LPs include City Football Group, Sinclair, AEG, MSG Sports, Bank of montreal and team ownership in major global sports leagues
New fund vehicle to focus on early-stage tech companies capitalizing on next-generation consumer behavior
New York, January 25, 2023 /PRNewswire/ — Sapphire Sport, an early-stage investment platform at the intersection of technology, sports, media and entertainment, has convened several new investors to join existing LPs from its first fund platform. , announced an oversubscription. $181 million Second fund vehicle (2) Backed by leading names in sports, business and media.followed by $117 million initial funding vehicle (3) announced in January 2019This new initiative, which includes investments in companies such as , Overtime, Tonal and Fevo, is a Series B from Seed to powering the next generation of consumer behavior across media, digital commerce, gaming, health and human performance, culture and community. will continue to focus on companies in
Co-founded and led by Doug Higgins When Michael Spirito, Sapphire Sport combines technology investment experience with a unique LP base of iconic brands across global sports, business and media. Participating include Anchor’s City Football Group, Sinclair Broadcast Group, adidas, Anschutz Entertainment Group, Bank of montrealIntersect Capital, ownership of the Indiana Pacers, WISE Ventures (the Wilf family investment fund), Jeff Vinnik (owners of Tampa Bay Lightning) and Skyland Partners, among others.New investors include Madison Square Garden SportsArctos Partners, Pentland Group, Gametime Capital, Stephen Kaplan (Chairman of Nalpak Capital), Stephen Paluca (Co-Chairman of Bain Capital, Co-Owner of the Boston Celtics), David Blitzer (owners of several teams) and CAZ Investments, etc.
“When we launched Sapphire Sport in 2019, we believed that the sports, media and entertainment industry could be better served by an institutional investment approach that brings the experience and partnerships of sports and entertainment stakeholders to venture capital. At LPs, we believe we have made Sapphire Sports a key partner to early stage companies at the intersection of technology and these big markets.We are proud of this group of investors Technology to better understand the next generation of consumers has never been more important.” Michael Spirito When Doug Higginsa co-founding partner of Sapphire Sports.
“As a founder, I know that attracting the right investors is not just capital, but support and partnerships at critical times.For the past four years, I have had support from Sapphire Sports at the best of times. I’ve been feeling it, especially during the most difficult times, and Overtime is proud to partner with them as they continue to build great things.” Dan PorterOvertime CEO.
“The team at Sapphire Sport have been supportive of Fevo’s vision of bringing social commerce to the mainstream early on. They have been an invaluable partner as we have successfully scaled our business over the past few years. ” Ali Daye, CEO of Fevo. “We have been navigating some very tricky markets together and Sapphire Sport has added value and been extremely supportive every step of the way.”
The above statement was provided by executives of Sapphire Sports’ invested portfolio companies. Statements reflect recommendations as to the nature and type of management services provided by Sapphire as an operating partner and do not constitute testimony to Sapphire’s investment advisory services and should not be inferred to the contrary. Sapphire does not provide any indemnification in connection with such warranties.
About Sapphire Sports:
Sapphire Sport is an early stage investment platform at the intersection of technology, sports, media, entertainment and culture. Sapphire Sport combines technology investment experience with a unique LP base of iconic brands across global sports, media and entertainment.When ~$300 million In terms of assets under management, Sapphire Sport is seeding Series B companies and founders looking to build and scale significant companies in these high-growth areas. All companies Sapphire Sport has invested in include Aglet, Breathwrk, Buzzer, GreenPark, Jackpot.com, Fevo, Flowhaven, Manticore, Market, Mixhalo, mycujoo (acquired by DAZN), Overtime, Phoenix Labs (acquired by Garena), PlayVS, POAP and Tonal.
About Sapphire Ventures:
Sapphire Ventures is a venture capital firm focused on helping innovative technology companies become global category leaders. Leveraging nearly 20 years of experience and an extensive global enterprise network, Sapphire Ventures invests capital, resources and expertise to help portfolio companies scale rapidly. Whether entrepreneurs sell to businesses, consumers, or both, Sapphire Ventures provides a platform for business development and operational excellence to help accelerate growth.Above $10 billion assets under management (Four) Sapphire Ventures is positioned to bring companies to the global stage through direct early stage and growth investments and investments in early stage funds.
Sapphire Sport refers to the sports investment strategy of Sapphire Ventures, LLC (“Sapphire”).
(1) Sapphire Sport Assets Under Management (“AUM”) represents current Sapphire Sport regulated asset management. December 31, 2021 Per Form ADV submitted March 2022 (2) Sapphire Sports $181 million The Second Fund Vehicle represents the aggregate commitment of investors to the Second Series Private Fund Vehicles managed by Sapphire Sports. (3) Sapphire Sports $117 million The first fund vehicle represents the sum of investor commitments to the first series of private fund vehicles managed by Sapphire Sports. (4) Assets under management of Sapphire Ventures represent current regulatory assets under management of the entire Sapphire company. December 31, 2021 Per Form ADV submitted March 2022 As well as commitments made during the 2022 calendar year.
The investors of Sapphire Sports mentioned in this article are individuals, investment groups, related investment associations, affiliates, planning entities, and various entities that maintain equivalent ownership and/or are referred to. may reflect others that are closely related to the organization of interest. Sapphire Ventures, LLC (“Sapphire”) has consented from certain investors to describe the relationships presented in its articles and may also use the names of the relevant individuals presented. I agree. Nothing contained herein is intended to constitute investment advice and under no circumstances may the information contained herein constitute an offer to sell or purchase of any investment fund managed by Sapphire. It should not be used or considered as a solicitation of an offer. Any offer or solicitation of securities by Sapphire may only be made pursuant to the current offering documents of the managed fund of which Sapphire is an advisor. Further, Sapphire does not open or publish its services to the public. Such offerings are available only to accredited investors and qualified purchasers as defined in the Securities Act of 1933 and the Investment Companies Act of 1940. The information provided reflects Sapphire’s views at a particular point in time. Such views are subject to change at any time and Sapphire Ventures undertakes no obligation to notify you of such changes. Experiences highlighted within any nominations provided for Sapphire Sport are solely those presented in those nominations and do not necessarily represent or represent the current, past or future experiences of other portfolio companies. is not. Past results and experiences described in these statements are neither an indication nor a guarantee of future results or experiences. Readers should not assume that the investments identified in this article were or will be profitable in the future. Companies mentioned in this article include all portfolio companies in which Sapphire Sport has invested. Any reference to specific investment advice contained herein is for illustrative purposes only and is not necessarily representative of future investments made. Although Sapphire has made reasonable efforts to obtain information from reliable sources, Sapphire makes no representations or warranties as to the accuracy, reliability or completeness of any third party information presented herein. is not intended to No guarantee of investment performance is provided and inferences to the contrary should not be made. Past performance is not indicative of future results.
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