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.