SAP Announces Venture Capital Fund Around NetWeaverBy Renee Boucher Ferguson | Posted 2006-05-18 Email Print
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The $125 million fund is for building a development ecosystem around NetWeaver.ORLANDO, Fla.SAP AG announced at its annual Sapphire user conference a $125 million venture capital fund for expanding development around its NetWeaver platform.
The SAP NetWeaver Fund is geared toward ISVs that are or will be "Powered by NetWeaver" partners actively developing on SAP's platform.
The NetWeaver Fund is, interestingly, also aimed at helping SAP suss out acquisition targets.
Agassi said the fund will focus on supporting and bringing along those ISVs intent on building either horizontal or vertical process-based applications that leverage SAP's ESA (Enterprise Services Architecture).
Each investment in an ISV will likely also bring in additional venture firms, though SAP is not specifying which ones those might be.
The time horizon is similar to that of a traditional venture fund: SAP is looking for a seven-year return on investment, with one or two investment rounds.
The fund is paid for out of SAP's corporate development funds. It will be led by Zia Yusuf, executive vice president of platform ecosystem at SAP, and Jim Mackey, senior vice president of corporate finance.
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