SAP Ventures raises more than $650m

The fundraising takes the total amount raised by the firm in the last 12 months to more than $1bn. It follows the announcement of the SAP Hana Real Time Fund, a $405m fund-of-funds that launched in 2012 and backs early-stage VC fund managers globally.

SAP Ventures is affilated with German multinational software corporation SAP, but now operates independently following a spinout in 2011. SAP is the sole LP in SAP Ventures Fund II.

The VC is also in the process of building a 10-person internal business development team in Europe, the US and Asia. The team will focus on connecting portfolio companies with customers, market partners and industry experts.

SAP Ventures has invested in more than 125 companies across five continents since its launch in 1997. Fund I portfolio companies include LinkedIn, Criteo – which recently filed for an IPO – and healthcare technology company Fitbit.

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