SAP Establishes $125 Million Global SAP NetWeaver Fund

The announcement was made at SAPPHIRE ’06, SAP’s international customer conference, being held in Orlando, Florida, May 16-18. SAP cited the rapid progression of ISV innovation building on SAP NetWeaver had inspired the company to leverage its financial resources to further stimulate a market which had already indicated strong endorsement of the SAP ecosystem strategy and of SAP NetWeaver as the market-leading innovation platform. At the same time, the SAP NetWeaver Fund provides a new opportunity for SAP to focus its investments into taking a funding leadership position with up-and-coming companies that have committed to building their products on the SAP NetWeaver platform. “SAP firmly believes in the power of co-innovation and – with the formation of the SAP NetWeaver Fund – we have taken another step forward to extend our lead in cultivating a world-class ecosystem and, ultimately, expanding the options available to customers,” said Shai Agassi, president of the Product & Technology Group and executive board member at SAP.
Financed out of SAP’s corporate development funds, the SAP NetWeaver Fund will be managed jointly by Zia Yusuf, executive vice president of platform ecosystem at SAP, and Jim Mackey, senior vice president of corporate finance at SAP. “The formation of the SAP NetWeaver Fund further expands the SAP investment toolkit and complements the efforts of SAP Ventures,” said Werner Brandt, chief financial officer and executive board member, SAP AG. “Building on the widespread adoption of the SAP NetWeaver platform, the establishment of the SAP NetWeaver Fund further underscores our dedication to co-innovation and driving real customer value.” SAP will continue to leverage its venture arm, SAP Ventures, which primarily invests in emerging technology that combines large market potential with high growth opportunity. These investments are designed to create positive financial returns to SAP, while, at the same time, creating seed innovation that supports SAP and the needs of customers and the marketplace.

Source: SAP AG