Hello, Guest!
  • Friday, April 26, 2024

SAP Ventures Gets $650M for New Investment Fund; Nino Marakovic Comments

SAP-logo-EbizSAP Ventures has generated more than $650 million for a fresh investment fund, growing the company’s direct funds by more than $1 billion in one year.

The SAP AG (NYSE: SAP) venture capital firm intends to allocate that money to SAP Ventures Fund II, in addition to $405 million for SAP HANA Real Time Fund and another $353 million for SAP Ventures Fund I, SAP said Wednesday.

SAP Ventures currently holds more than $1.4 billion in total assets under management.

Nino Marakovic, CEO and managing director of SAP Ventures, said the company intends to leverage its access to SAP’s pool of customers and partners worldwide in order to help businesses execute acquisitions and expansion.

Marakovic added that the venture capital firm is an independent company but has access to a global ecosystem through SAP’s business and partnerships.

SAP Ventures will form a new business development team based in the U.S., Europe and Asia that will work to help companies connect with clients, go-to-market partners and industry to give organizations access to various revenue channels through SAP AG.

Video of the Day

Related Articles

Blue Delta Invests in Software Defined Radio, SIGINT Tech Provider HTL; Mark Frantz, Acie Vickers Quoted News

Blue Delta Invests in Software Defined Radio, SIGINT Tech Provider HTL; Mark Frantz, Acie Vickers Quoted

Blue Delta Capital Partners, a federal government market-focused venture capital firm, has invested in Herrick Technology Laboratories, a provider of software-defined radio, electronic warfare and signals intelligence products for the Department of Defense. Acie Vickers, CEO and co-founder of HTL, said in a statement published Wednesday the $25 million investment from Blue Delta will enable

Gina Raimondo on Commerce’s Investments in Leading-Edge Logic Chip Manufacturing for AI Systems News

Gina Raimondo on Commerce’s Investments in Leading-Edge Logic Chip Manufacturing for AI Systems

Commerce Secretary Gina Raimondo said artificial intelligence systems are driving the demand for leading-edge logic chips and the Department of Commerce is working to meet that demand through its investments under the CHIPS for America program as part of its implementation of the CHIPS and Science Act. “We anticipate that our investments in leading-edge logic

FirstNet Authority, AT&T to Expand Public Safety Broadband Network With $8B Investment; Joe Wassel Quoted News

FirstNet Authority, AT&T to Expand Public Safety Broadband Network With $8B Investment; Joe Wassel Quoted

The First Responder Network Authority and AT&T (NYSE: T) have unveiled a 10-year, $8 billion initiative to further develop and expand FirstNet, the country’s public safety broadband network. The FirstNet Authority intends to make an investment of $6.3 billion through its contract with AT&T with plans to invest $2 billion more to support coverage improvements,