SAP agrees first Latin American deal

May 27, 2010 • James Mawson

SAP Ventures, the corporate venturing arm of the German enterprise software company, has agreed its first investment in Latin America.

SAP Ventures, the corporate venturing arm of the German enterprise software company, has agreed its first investment in Latin America.

SAP Ventures led the $12m, fourth-round funding for Brazil-based Spring Wireless as a new investor. The venture arm of US bank Goldman Sachs and venture capital firm New Enterprise Associates (NEA) reinvested after Spring raised a $56m series C round at a $110 million pre-money valuation in 2008, according to news provider pehub.com.

Doug Higgins, California-based partner at SAP Ventures,…

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