Sapphire Ventures today announced it has closed on $1 billion in new capital commitments. All of the money comes from German software company SAP SE. The firm invests in high-growth, expansion-stage technology startups across the globe, as well as early-stage, technology-focused venture capital funds.

With this new funding, Sapphire’s total assets under management increased to more than $2.4 billion. Sapphire’s new $1 billion capital commitment comes on the heels of a strong track record of exits since early 2011, when the firm spun out of global technology leader SAP to become an independent venture capital firm owned and operated by its partners.

Sapphire has seen 38 exits in its portfolio, including 15 IPOs and 23 mergers and acquisitions. The firm has been among the top five most active VC investors in U.S.-based tech companies that have completed an IPO In 2015, Sapphire led U.S. venture firms in total number of IPOs with four of its portfolio companies going public – Apigee, Box, Fitbit and Square, the company said.

“Sapphire’s focus remains unchanged — to back extraordinary entrepreneurs globally and help them build industry-leading businesses,” said Nino Marakovic, CEO and managing director of Sapphire Ventures.

“In today’s rapidly changing marketplace, high-growth startups need the support of experienced, focused and deep-pocketed investors in order to stay competitive. Sapphire is better poised than ever to be this kind of partner for our portfolio companies,” he added.