SAP Ventures accelerates strategy with new direct investment

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

SAP Ventures accelerates strategy with new direct investment 
The independent venture capital firm, SAP Ventures affiliated with SAP AGhas announced that it has raised more than US$650 million for a new direct investment fund, SAP Ventures Fund II.

Taken together with SAP HANA Real-Time Fund, SAP Ventures has added more than US$1 billion in new funds in 12 months. Inclusive of SAP Ventures Fund I, a US$353 million direct investment fund launched in 2011, the firm’s total assets under management increased to more than US$1.4 billion. SAP Ventures has also announced that it is building out a 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.

Dr Vishal Sikka, Member of the Executive Board of SAP AG, said, 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. 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.

In addition, SAP Ventures will continue to build a larger network of portfolio companies and investment experts through its fund of funds, the SAP HANA Real Time Fund........See More

Comments

Post a Comment

Popular posts from this blog

N Chandrasekaran appointed chairman of Tata Sons

Image
The board of directors of Tata Sons, at its meeting has unanimously appointed N Chandrasekaran as executive chairman, Tata Sons. N Chandrasekaran shall take charge from February 21, 2017. The board of Tata Sons said, “Chandrasekaran has demonstrated exemplary leadership as the chief executive officer and managing director, Tata Consultancy Services. We believe he will now inspire the entire Tata group to realise its potential acting as leaders in their respective businesses, always in keeping with our value system and ethics and adhering with the practices of the Tata group which have stood it in good stead.” Chandrasekaran was the chief executive officer and managing director of Tata Consultancy Services since 2009. A Tata lifer, he had joined the company in 1987 and was appointed as a director on the board of Tata Sons on October 25, 2016.
Read more

Visa buys NFT based CryptoPunk and paid $150,000 in Etherium

Image
Visa buys NFT based CryptoPunk and paid $150,000 in Etherium:  Leader in the digital payments   Visa   has purchased a digital CryptoPunk for $150,000, marking the company's first ever   NFT   purchase. The deal is clearly shows that, Visa is stepping into the world of NFTs with its purchase of   CryptoPunk 7610 .   Going forward, NFTs and Visa to align and integrate them in new brand strategy to gain a sizable market share. However, NFTs have often been compared to physical collectible items like rare trading cards and works of art.   The CryptoPunk 7610, which feBlatures a female punk with a mohawk and large green eyes. "We envision there could be a future where your crypto address becomes as important as your mailing address," Visa's Head of Crypto said.   An NFT - which stands for non-fungible token - is a unique digital asset designed to represent ownership of a virtual item. Unlike bitcoin and other cryptocurrencies, NFTs can’...
Read more

Prizm Payment Services changes its name to Hitachi Payment Services

Image
Hitachi Payment Services Pvt. Ltd has changed its corporate name from Prizm Payment Services Pvt. Ltd (“Prizm Payment Services”) to Hitachi Payment Services Pvt. Ltd (“Hitachi Payment Services”). “The new name reflects Hitachi’s commitment to business expansion in India, and to build a strong global financial payments offering leveraging the expertise of the Prizm Payment Services acquisition. Hitachi sees immediate potential to grow in the Asian subcontinent markets with the epicentre of growth being India, and migrate into other markets. Also, the name change will have no change on Prizm Payment Services’ operations,” said Loney Antony, Managing Director, Hitachi Payment Services. “Hitachi had acquired Prizm Payment Services with the aim of accelerating global development of IT services businesses targeting financial institutions, particularly in the fast-growing Asian region, and the company has been the gateway of entering into the services business in India for Hitachi. We ...
Read more