In order to gain access to investing in software service companies that are powering digital transformation, venture capital unit of Deutsche Telekom said it raised $350 million.
In a statement issued by Deutsche Telekom Capital Partners (DTCP), the second raising was carried out by SK Telecom of Korea and German optics company Zeiss have joined Deutsche Telekom, HarbourVest and Neuberger Bermann.
Managing Partner Jack Young of DTCP, said: “From an investor’s perspective, an enterprise SaaS business is easily measurable and predictable.”
The company has invested in Fastly, a company uses software to make web pages load faster through its DTCP’s Venture/Growth Fund II.
DTCP was founded in 2015 by Deutsche Telekom with a $145 million funding.
Young told Reuters that DTCP is managing or advising on $1.7 billion in assets.