SAP Ventures has announced it has raised more than $650 million for a new direct investment fund, SAP Ventures Fund II.
Taken together with SAP HANA Real Time Fund, a $405 million fund-of-funds that invests in early stage VC funds, SAP Ventures has added more than $1 billion in new funds in 12 months.
Inclusive of SAP Ventures Fund I, a $353 million direct investment fund launched in 2011, the firm's total assets under management increased to more than $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 unmatched capabilities and expertise of one of the world's largest enterprise ecosystems through its limited partner, SAP AG.
SAP Ventures has seen impressive results this year, with 12 initial public offering (IPO) and merger and acquisition (M&A) events to date in 2013. Five of its portfolio companies went public, including Control 4, Just Dial, Marin Software, Tremor Video and Violin Memory. Seven of its portfolio companies were acquired, including Aepona, Apriso, Datria, ExactTarget, Ignite, ScaleIO and Voxeo.
"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 Dr. Vishal Sikka, member of the Executive Board of SAP AG. "I have been a big supporter of SAP Ventures over the years. We are proud of our commitment to their newest fund and I look forward to supporting them on their journey."
"We believe that we represent a new breed of venture capital funds. We are in a unique position of being independent and yet having unparalleled access to one of the world's largest global ecosystems of enterprise customers and partners," said Nino Marakovic, CEO and managing director, SAP Ventures. "As a result, we help entrepreneurs tap into proven approaches for customer acquisition and international expansion. They get the best of both worlds -- an unmatched mix of independent funding and the relationships of an enterprise powerhouse."