SAP Ventures, the corporate venturing unit of the Germany-based enterprise software company led by Nino Marakovic, is considering raising more funds from its parent.
The firm is now half way through investing its $350m SAP Ventures Fund I, which was set up in January 2011, and is considering raising a new fund within the next two years from SAP, news provider PE Hub reported.
Nino Marakovic said to GCV: "We are targeting to do our next "core" fund in about 24 months and have not decided if we will consider partnering with other limited partners yet."
SAP Ventures is also planning expanding its investment team this year and could do so again in 2013 and 2014, PE Hub said. The company might consider an office in India, PE Hub added.
The comments came in an interview with Nino Marakovic, SAP Ventures’ chief executive, by PE Hub, where he flagged up the corporate venturing unit has sold nearly as many companies to Oracle (three), as SAP (four).
Marakovic added the firm was a top quartile fund, and sought to get good returns, but also wanted to "signal" to SAP what is going on in the market. He also discussed the company’s preference for late stage deals.