SAP Ventures, the independent venture capital firm affiliated with SAP AG, on Friday said it had raised over $650 million for a new direct investment fund, SAP Ventures Fund II. Taken together with SAP HANA Real Time Fund, which is a $405 million fund-of-funds that invests in early stage VC funds, SAP Ventures has added more than $1 billion in new funds in 12 months, the company said. Inclusive of SAP Ventures Fund I, a $353 million direct investment fund launched in 2011, the firm’s total assets under management increased to more than $1.4 billion, it added.

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