SAP Launches $650M Fund To Invest In IT Startups

Law360, New York (October 2, 2013, 5:42 PM EDT) -- SAP Ventures, a Palo Alto, Calif.-based investment firm, will launch a $650 million direct investment fund using cash raised from its German software affiliate SAP AG to invest in startups, the companies announced Wednesday.

The new fund will specialize in information technology, SAP Ventures said, and its goal is to serve as a vehicle for SAP's investment in startups.

“We believe that we represent a new breed of venture capital funds,” SAP Ventures CEO Nino Marakovic said in a statement. “We are in a unique position...
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