Sapphire Ventures Closes $1.7B Across Multiple Funds and Begins to Deploy New Capital

Rhea-AI Summary

Sapphire Ventures has successfully raised $1.7 billion across multiple funds, increasing its total Assets Under Management (AUM) to over $5.7 billion. This capital will primarily support investments in Series B to IPO stages of enterprise technology companies in the U.S., Europe, and Israel. In 2020, Sapphire committed more than $970 million to 48 companies, achieving notable milestones including IPOs for JFrog (NASDAQ: FROG) and Sumo Logic (NASDAQ: SUMO).

Positive

• Successfully raised $1.7 billion across multiple funds.
• Total AUM increased to over $5.7 billion.
• Committed over $970 million in 2020 across 48 companies.
• Achieved significant portfolio exits including IPOs for JFrog and Sumo Logic.

Negative

• None.

PALO ALTO, Calif., Feb. 4, 2021 /PRNewswire/ -- Sapphire Ventures, a leading venture capital firm that partners with visionary teams and venture funds to build companies of consequence, today announced that it recently raised $1.7 billion across multiple funds. The new capital, which Sapphire has already started to invest out of, will primarily be used to ramp up the firm's investments in Series B through IPO enterprise technology companies in the U.S., Europe and Israel. This brings Sapphire Ventures' total Assets Under Management (AUM) to more than $5.7 billion as of December 31, 2020.(1)

Sapphire Ventures' new fundraise comes on the heels of a noteworthy 2020. From January 1, 2020 to December 31, 2020, Sapphire invested and committed more than $970 million across 48 companies and venture funds. In addition, two of Sapphire's portfolio companies, JFrog (NASDAQ: FROG) and Sumo Logic (NASDAQ: SUMO), held an IPO on the Nasdaq. And six were acquired, including AllyO acquired by HireVue, Localytics acquired by Upland Software, PortWorx acquired by Pure Storage, Retail Solutions acquired by IRI and Segment acquired by Twilio.(2) 

New Fundraise Kicks-Off Sapphire's 10-Year Anniversary as an Independent VC
2021 marks a cornerstone year for Sapphire Ventures as it celebrates 10 years as an independent venture capital firm. Since its founding, Sapphire has been partnering with category-defining companies, investing capital, resources and expertise in visionary entrepreneurs and their teams. Since 2011, Sapphire has invested in more than 120 startups and has had 65 exits, including 23 IPOs and 42 acquisitions. (3)

"Today's entrepreneurs seek investors with not only deep-pockets, but experienced partners that can support them across every leg of their journey," said Nino Marakovic, CEO and Partner at Sapphire Ventures. "Sapphire Ventures has ample capital to invest in startups throughout all stages of growth. We also bring the necessary experience essential for companies to navigate different economic cycles, and we have an exceptional services team dedicated to helping our companies scale."

Enabling Sapphire's Portfolio Companies to Succeed With a Growing Suite of Services 
Since it was first created seven years ago, Sapphire Ventures' Portfolio Growth has grown to accommodate portfolio companies across their business development, go-to-market, talent, marketing and capital markets needs. Comprised of experienced professionals who have spent years as operators at SaaS startups and technology enterprises, the team enables Sapphire's portfolio companies to achieve their business goals by:

• Identifying and recruiting exceptional executive and board talent
• Facilitating hundreds of customer and partner introductions annually
• Sharing operational best practices across various functional areas
• Delivering marketing and communications insights and support
• Providing portfolio companies counsel on capital markets activities

The new capital will be used to expand the Portfolio Growth team to meet the demands of today's startups that require support along their growth trajectory.  

"Portfolio Growth is one of the key reasons CEOs partner with Sapphire, which is why we're expanding our services in the areas most important to our portfolio companies," said Rami Branitzky, Partner at Sapphire Ventures and Head of Portfolio Growth. "By surveying our startups every year, we are closely tapped into their evolving needs and satisfaction with the support we deliver. I'm looking forward to offering an even deeper level of service for our startups so that they can ultimately achieve their business goals."

"Sapphire Ventures is a VC you don't want to miss the opportunity to work with. They're a team of experienced investors who deeply understand the B2B enterprise tech ecosystem, and they have ample capital to invest in visionary ideas," said Eugenio Pace, co-Founder and CEO of Auth0. "In addition, Sapphire delivers a level of service that has been essential to Auth0's growth. They've introduced us to more than a dozen potential customers, helped hire senior leaders for our team and much more. Simply put, Sapphire's partnership is invaluable to Auth0."

"As a new addition to Sapphire's portfolio, we couldn't be more thrilled to partner with their exceptional group of investors," said Dr. Michelle Longmire, co-Founder and CEO of Medable. "In only just a couple of months, Sapphire has already been an invaluable partner. Sapphire has facilitated customer introductions, involved us in an upcoming life sciences roundtable and has made talent connections that will prove to be incredibly useful to our business. They are exactly the kind of VC that we need by our side as we move into our next stage of growth."

About Sapphire:
Sapphire Ventures is a leading venture capital firm that partners with visionary teams and venture funds to build companies of consequence. For nearly two decades, Sapphire has been investing capital, resources and expertise in innovative startups and technology-focused venture funds around the world. With more than $5.7B in AUM across Sapphire Ventures, Sapphire Partners and Sapphire Sport, and with team members in Austin, London, Palo Alto and San Francisco, Sapphire is well-positioned to help scale companies and venture funds, elevating them to become global category leaders. To learn more about Sapphire Ventures, visit: https://sapphireventures.com/.

Disclaimer:
⁽¹⁾ Assets Under Management (AUM) represents Sapphire's Regulatory Assets Under Management as of 12/31/2019 per ADV filed March 2020 as well as new commitments made to Sapphire Funds during calendar year 2020.
⁽²⁾ "IPO & M&A Exits" represents all Sapphire Ventures and Sport investments that have had an IPO or M&A exit during calendar year 2020;"IPOs" represents all Sapphire Ventures and Sport investments that have had an IPO exit during calendar year 2020; "Acquisitions" represents all Sapphire Ventures and Sport investments that have had a M&A exit during calendar year 2020
⁽³⁾ "IPO & M&A Exits" figures represent all Sapphire Venture direct investments that had an exit by IPO or merger and acquisition during the time period of January 2011 to December 2020. Investments made refers to direct investments made by Sapphire Ventures and Sapphire Sport over same time period.

Nothing presented herein is intended to constitute investment advice, and under no circumstances should any information provided herein be used or considered as an offer to sell or a solicitation of an offer to buy an interest in any investment fund managed by Sapphire Ventures. Sapphire Ventures does not solicit or make its services available to the public. Information provided herein reflects Sapphire Ventures views as of Dec. 31, 2020. Such views are subject to change without notice.

Due to various risks and uncertainties, actual events, results or the actual experience may differ materially from those reflected or contemplated statements above. The investments identified and discussed herein do not represent all of the investments made or recommended by Sapphire Ventures and may not be representative of any current or future investments. A complete alphabetical list of Sapphire's investments made by its direct growth investing funds is available here. The performance of these investments is not necessarily indicative of the performance of all investments made or recommended by Sapphire Ventures. It should not be assumed that any future investments will be profitable or will equal the performance of the companies identified herein. No guarantee of investment performance is being provided and no inference to the contrary should be made. Past performance is not indicative of future results.

Media Contact:
Jenny Smelyanets
jsmelyanets@sapphireventures.com
415-622-3025

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SOURCE Sapphire Ventures

FAQ

What is the significance of Sapphire Ventures raising $1.7 billion?

Sapphire Ventures' $1.7 billion fundraise enhances its investment capabilities in technology companies and marks a growth in its Assets Under Management (AUM) to over $5.7 billion.

Which companies went public from Sapphire Ventures' portfolio?

Sapphire Ventures' portfolio companies JFrog (NASDAQ: FROG) and Sumo Logic (NASDAQ: SUMO) held an IPO on the Nasdaq.

What areas will Sapphire Ventures focus on with the new capital?

The new capital will focus on investing in Series B through IPO stages of enterprise technology companies in the U.S., Europe, and Israel.