(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.
©2021 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
