Canada Markets closed

SAP’s Venture Investments Pay Off in Boon to Bottom Line

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

(Bloomberg) -- SAP SE revealed in its latest quarterly earnings significant growth stemming from its Sapphire Ventures investing arm.

Of the 1.9 billion euros ($2.2 billion) of second-quarter operating profit Europe’s largest software company posted Wednesday, about 900 million euros came from Sapphire Ventures, a spokesperson confirmed to Bloomberg via email.

The results bolstered the confidence of SAP’s supervisory board, which approved $1.75 billion of additional funding to be made available to Sapphire for investments.

A run of exits, including the market debuts of Monday.com Ltd., 23andMe Inc. and Integral Ad Science Inc., contributed to the SAP investment vehicle’s boost, underscoring the ancillary benefits corporations can accrue from backing startups.

More stories like this are available on bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2021 Bloomberg L.P.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting