Published On:June 5 2008
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SAP to invest in six technology firms
Mumbai: Business software maker SAP India intends to invest about $4-5 million each in at least six emerging technology firms over the next 18 months through its venture capital arm, SAP Ventures.
The company is looking at funding early-stage companies that provide enterprise IT solutions, managed solutions, ITES services and other innovative offerings, Mr Jai Das, Partner, SAP Ventures, said on the sidelines of the SAP Summit here in Mumbai.
“Ideally we would pick up anywhere between 2-20 per cent stake in such companies and stay invested from a long-term perspective,” said Mr Das.
However, Mr Das did not give out the exact amount that the company has earmarked for funding early-stage companies in India. These investments would be a part of the $1 billion commitment made by the company in 2006, said Mr Ranjan Das, President & CEO, SAP India Subcontinent.
SAP generally invests in companies with revenues of $5-10 million; the company prefers to generally exit via the IPO route.
Globally, SAP Ventures has invested in about 38 countries.