Software group SAP is to commit $650m its corporate venture capital unit’s second direct investment vehicle, fund SAP Ventures Fund II.
SAP Ventures is an independent firm having spun out from SAP, but counts its parent company as its only limited partner.
The new fund will focus on information technology for enterprises, Nino Marakovic, chief executive of SAP Ventures, told Reuters.
The firm previously raised $353m for its first fund in 2011, and $405m for its SAP HANA Real Time Fund, a venture capital fund of funds.
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