SAP Ventures raises USD 1 bln in one year
Venture capital firm SAP Ventures on Friday announced it has raised more than USUSD 650 million for a new direct investment fund, SAP Ventures Fund II.
Taken together with SAP HANA Real Time Fund, a USUSD 405 million fund-of-funds that invests in early stage VC funds, SAP Ventures has added more than USUSD 1 billion in new funds in 12 months.
Inclusive of SAP Ventures Fund I, a USUSD 353 million direct investment fund launched in 2011, the firm's total assets under management increased to more than USUSD 1.4 billion.
SAP Ventures also announced it is building out a dedicated 10-person business development team to enable its portfolio companies to easily access and leverage the capabilities and expertise of SAP AG.
In addition, SAP Ventures will continue to build a larger network of portfolio companies and investment experts through its fund of funds, the SAP HANA Real Time Fund.
(Posted on 05-10-2013)