SAP’s Venture Arm Sapphire Plans to Invest $100 Million Into VC Funds

Written by Leena Rao, FORTUNE

Sapphire Ventures, a firm whose sole backer is enterprise giant SAP, said Wednesday that it would deploy $100 million this year into eight to nine early stage venture capital funds.

Sapphire Ventures, formerly known as SAP Ventures, is somewhat unique in the venture world in that it is both an investor in technology companies as well as an investor in early stage funds. SAP is the firm’s sole backer and provider of capital, but Sapphire’s managing director Beezer Clarkson insists that the firm has complete independence from SAP. That means that SAP isn’t considered a strategic investor, doesn’t weigh in on investment decisions, and isn’t involved with the day-to-day operations of the firm.

Through its $650 million fund, Sapphire Ventures has invested in Fitbit, Box, Criteo, Docusign, and others. The firm, which currently manages over $1.4 billion, has also deployed capital as a limited partner or LP into a number of VC funds including August Capital, Data Collective, LA-based Amplify, and Berlin-based Point Nine Capital.

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