Salesforce Ventures, Salesforce.com's venture capital firm, has earmarked $100 million to invest in European cloud computing startups. "It’s now the right time for us in Europe," John Somorjai, Salesforce’s executive vice president of corporate development and Salesforce Ventures, said. "Europe is adopting the cloud very rapidly, and the opportunities are immense for us with an enormous pipeline for us to invest in."
IDC has predicted that cloud computing in Europe will grow twelve times faster than other IT markets.
Salesforce Ventures has already invested in most than 150 startups, but so far only seventeen of those firms have been located in Europe.