SAP Ventures, the independent venture capital firm affiliated with enterprise software major SAP, has raised more than $650 million for a new direct investment fund, SAP Ventures Fund II, over the last 12 months.
Taken together with SAP HANA Real Time Fund, a $405 million fund-of-funds that invests in early stage VC funds internationally as well as startups focused on the development of real-time technologies leveraging Big Data, SAP Ventures added more than $1 billion in new funds over the last one year.
SAP Ventures had been investing out of SAP Ventures Fund I, a $353-million direct investment fund launched in 2011. Its total assets under management have now increased to more than $1.4 billion, the company said in a press statement.
Both direct investment funds SAP Ventures Fund I and SAP Ventures Fund II chase investments in disruptive expansion stage companies across the IT sector.
“SAP Ventures is an integral partner of the innovation drive and intellectual renewal happening at SAP. They are helping us build a broader ecosystem that includes some of the most innovative founders, developers and venture capitalists,” said Vishal Sikka, member of the executive board of SAP AG.
SAP Ventures has seen record results this year, with 12 initial public offering (IPO) and merger and acquisition (M&A) events related to its portfolio firms to date in 2013. Five of its portfolio companies went public; these include Indian online business listing firm, Just Dial. SAP Venture’s other Indian investments include iYogi, NewGen Software and One97 Communications.
The company also said that it is building a dedicated, 10-person internal business development team located in the US, Europe and Asia. This team will work closely with portfolio companies to connect with customers, go-to-market partners and technology and industry experts in the enterprise ecosystem that can help them accelerate growth, scale and success.
In addition, SAP Ventures will continue to build a larger network of portfolio companies and investment experts through HANA Real Time Fund.
(Edited by Joby Puthuparampil Johnson)