SAP Ventures promotes new head

Nino Marakovic has taken over the venture arm of software giant SAP, following the departure of Lisa Reeves for Vista Ventures.

SAP AG has promoted Nino Marakovic to lead its venture arm, after its former head, Lisa Reeves, left the firm earlier this month for Boulder, Colorado-based Vista Ventures.

Marakovic joined the Palo Alto and Walldorf, Germany-based firm 18 months ago, before which he was a partner at venture capital firms Draper Fisher Jurvetson and IVF Ventures. Currently Marakovic manages investments in IT companies Apriso, Right Hemisphere, Vendavo and Zend.

SAP Ventures was founded 10 years ago by its parent company, global business software provider SAP, and has since invested in more than 75 companies. The firm focusses on companies that make products and services in the business solutions sector.

This summer, SAP Ventures provided $10.3 million (€7.6 million) in Series C funding for real-time salary date provider PayScale and participated in a $12 million round of financing for open source business software maker JasperSoft.