Sapphire Ventures today announced it has closed on $1 billion in new capital commitments. 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 SE (NYSE:SAP) to become an independentventure 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.
“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.”
In addition to making direct growth investments, Sapphire invests as a limited partner (LP) in early-stage venture capital funds across the United States, Europe and Israel. Along with the new capital commitment, Sapphire’s fund investing business has a new evergreen structure, enabling the firm to provide long-term capital to emerging and established fund managers and stand behind them for multiple fund cycles.
To help its portfolio companies accelerate growth, Sapphire Ventures created a dedicated market development team in 2013. This team leverages the firm’s enterprise relationships to connect portfolio companies with decision-makers at Global 1000 companies and drives programs to enhance business development and operations. For example, Sapphire convenes portfolio companies and CIOs of global corporations at its annual CIO Summit and hosts monthly events, such as the Next-Gen Tech Stack Forum. Furthermore, Sapphire proactively draws on the extensive reach and resources of SAP, the firm’s limited partner, to maximize access to prominent customers and channel partners globally.
To learn more about Sapphire Ventures, please visit www.sapphireventures.com.