Polar Capital’s $12 B Fund Exits SAP Stake, Company Joins 15-Member Tech Alliance
Polar Capital’s $12 billion tech fund exited SAP and other application software stakes, citing a 22% ETF decline and AI coding tools’ existential threat. SAP joined a 15-member Trusted Tech Alliance with Anthropic, Microsoft and Google Cloud, pledging transparent governance, supply‐chain security and open ecosystems.
1. Polar Capital Exits SAP Stake
Nick Evans, manager of Polar Capital’s $12 billion global technology fund, fully exited the firm’s SAP stake along with holdings in ServiceNow, Adobe and HubSpot, citing a 22% drop in a US software ETF and advances in AI coding tools that could replace traditional application software.
2. SAP Joins Trusted Tech Alliance
SAP teamed up with 14 other global technology firms including Microsoft, Anthropic and Google Cloud to form the Trusted Tech Alliance, committing to five core principles such as transparent governance, supply-chain security oversight, operational transparency and promotion of open digital ecosystems.