SAP's venture capital arm has raised $1 billion over the past year as the company tries to land stakes in hot startup companies, both to generate profit down the road and to align itself with the industry's newest technologies.
In total, SAP now has $1.4 billion under management in its various venture funds, according to Wednesday's announcement. As part of SAP Ventures' expansion, the organization is also creating a new 10-member business development team, SAP said.
