The SAP venture capital arm is looking to support new, larger deals

Sapphire Ventures has raised $1.4 billion for growth investments, an outlet that will also provide $150 million to boost larger deals. The group, which spun out of SAP, has traditionally focused on enterprise technology companies that operate out of Israel and Europe. It has successfully funded companies like Sumo Logic, TransferWise, and 23andMe. The capital raise represents the largest event to date. The venture arm now has an AUM of $4 billion.

However, the firm plans to tackle smaller investments as needed.

“The new capital raise gives us the flexibility to write initial investments as small as [$3 million to $5 million] for what traditionally would have been a Series B company, all the way up to $100 million for the right later-stage company,” Sapphire Ventures CEO and managing director Nino Marakovic told PitchBook.

Sapphire Ventures New Fund

The firm plans to write checks ranging from $5 million to $100 million in expansion and late-state “companies of consequence” in Europe, Israel, and the United States.

The new fund comes at a time that Sapphire has been busy. The firm invested in 15 new companies this year. It also has a portfolio of five exits, including the recent purchase of Fitbit by Google. Its exits also include Looker’s purchase by Google Cloud and the IPO of Livongo. It also exited different deals for Return Path, Jibe, and Onventis.

Related: HCM Capital to Launch Second, Larger Venture Fund