On Sunday, January 20, software giant SAP became the latest company–and, it says, the only business software company–to target a share of its venture investments directly to women and underrepresented minorities.
Its fund, called SAP.iO, was launched in 2017 and invests in business-to-business startups that are a fit with SAP’s own technology platforms. With $35 million to invest, it’s already put about $4 million to work in 15 companies, 60 percent of which are in the U.S. Now, under an initiative called SAP.iO No Boundaries, the fund will invest 40 percent of its money in women and underrepresented minorities, says SAP chief strategy officer Deepak Krishnamurthy. He says the company will start ramping up its Asia-Pacific focus within the next year.
