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Sapphire Sport Once more Convenes Massive Names in Sport, Enterprise and Leisure to Elevate Oversubscribed $181M Second Fund Platform taking AUM to ~$300M(1)

LPs embody Metropolis Soccer Group, Sinclair, AEG, MSG Sports activities, Financial institution of Montréal and Crew Possession Throughout Main World Sporting Leagues

New Fund Automobile to Give attention to Early-Stage Tech Corporations Tapping into the Subsequent Technology of Shopper Conduct

NEW YORK, Jan 25, 2023 /PRNewswire/ — Sapphire Sport, an early-stage funding platform on the intersection of know-how, sport, media and leisure, has agreed a number of new buyers to affix current LPs from their first fund platform to announce an oversubscribed $181M second fund car (2) Backed by main names throughout sport, enterprise and media. following its $117M preliminary fund car (3) introduced in January 2019which incorporates investments in firms like Time beyond regulation, Tonal and Fevo, this new effort will proceed to concentrate on Seed to Sequence B firms powering the following technology of client habits throughout media, digital commerce, gaming, well being and human efficiency, tradition and group.

Co-founded and led by Doug Higgins and Michael Spirito, Sapphire Sport pairs know-how funding expertise with a singular LP base of iconic manufacturers throughout world sport, enterprise and media. Participation contains returning buyers like anchor Metropolis Soccer Group, Sinclair Broadcast Group, adidas, Anschutz Leisure Group, Financial institution of MontréalIntersect Capital, the possession of the Indiana Pacers, WISE Ventures (the funding fund of the Wilf household), jeff vinik (proprietor of the Tampa Bay Lightning) and Skyland Companions, amongst others. New buyers embody Madison Sq. Backyard Sports activitiesArctos Companions, Pentland Group, Gametime Capital, Stephen Kaplan (Chairman of Nalpak Capital), Stephen Pagliuca (Co-Chairman of Bain Capital, co-owner of the Boston Celtics), david blitzer (proprietor of a number of groups) and CAZ Investments, amongst others.

“Once we launched Sapphire Sport in 2019, we believed that the game, media and leisure industries could be higher served by an institutional funding method to the sector, one which introduced the expertise and partnership of sport and leisure stakeholders to enterprise capital. Alongside our LPs, we consider we’ve got constructed Sapphire Sport into a number one companion for early-stage firms on the intersection of know-how and these giant markets.We could not be prouder of this group of buyers, and we consider that they’d agree that harnessing new applied sciences to higher perceive the following technology of shoppers has by no means been extra necessary,” stated Michael Spirito and Doug HigginsCo-Founding Companions of Sapphire Sport.

“As a Founder I do know that bringing on the best buyers is not nearly capital, it is about assist and partnership throughout important occasions. Over the previous 4 years I’ve felt that assist from Sapphire Sport throughout the most effective occasions, however particularly throughout probably the most difficult occasions, and we at Time beyond regulation are proud to companion with them as we proceed to construct nice issues,” stated Dan PorterCEO of Time beyond regulation.

“The group at Sapphire Sport backed Fevo’s imaginative and prescient to carry social commerce to the early mainstream, they usually have been invaluable companions as we’ve got efficiently scaled the enterprise over the previous a number of years,” stated Ari Daie, CEO of Fevo. “We have now navigated by means of some very tough markets collectively, and Sapphire Sport has added worth and been extraordinarily supportive each step of the best way.”

Statements above have been supplied by executives of portfolio firms wherein Sapphire Sport has invested. Statements replicate endorsements associated to the character and sort of administration providers supplied by Sapphire as an working companion and don’t represent testimonials to Sapphires’ funding advisory providers the place by no inference on the contrary must be made. Sapphire has supplied no compensation associated to such endorsements.

About Sapphire Sports activities:

Sapphire Sport is an early-stage funding platform on the intersection of know-how, sports activities, media, leisure and tradition. Sapphire Sport pairs know-how funding expertise with a singular LP base of iconic manufacturers throughout world sport, media and leisure. With ~$300M In belongings underneath administration, Sapphire Sport backs Seed to Sequence B firms and founders seeking to construct and scale firms of consequence in these excessive development areas. All firms wherein Sapphire Sport has invested embody Aglet, Breathwrk, Buzzer, GreenPark, Jackpot.com, Fevo, Flowhaven, Manticore, Market, Mixhalo, mycujoo (acquired by DAZN), Time beyond regulation, Phoenix Labs (acquired by Garena), PlayVS, POAP and Tonal.

About Sapphire Ventures:

Sapphire Ventures is a enterprise capital agency targeted on serving to revolutionary know-how firms change into world class leaders. Leveraging almost twenty years of expertise and an intensive world enterprise community, Sapphire Ventures invests capital, assets and experience to assist its portfolio firms to scale quickly. Whether or not entrepreneurs promote to companies, shoppers or each, Sapphire Ventures presents a platform for enterprise growth and operational excellence to assist them speed up development. With greater than $10 billion in belongings underneath administration (4) Through direct early-stage and development investments and early-stage fund investments, Sapphire Ventures is positioned to raise firms to the worldwide stage.

DISCLAIMER

Sapphire Sport refers to Sapphire Ventures, LLC (“Sapphire”) Sport Funding Technique.

(1) Sapphire Sport belongings underneath administration (“AUM”) represents Sapphire Sport Regulatory Belongings Beneath Administration as of 12/31/2021 per Kind ADV filed March 2022 in addition to commitments made throughout calendar yr 2022. (2) Sapphire Sports activities’ $181M second fund car represents whole investor commitments made to the second collection personal fund car which Sapphire Sport manages. (3) Sapphire Sports activities’ $117M Preliminary fund car represents whole investor commitments made to the primary collection personal fund car which Sapphire Sport manages. (4) Sapphire Ventures belongings underneath administration represents Sapphire’s firmwide Regulatory Belongings Beneath Administration as of 12/31/2021 per Kind ADV filed March 2022 in addition to commitments made throughout calendar yr 2022.

Sapphire Sport buyers listed inside this text could replicate people, funding teams, associated funding events, associates, property planning entities, and others who keep a degree possession and/or are carefully affiliated with the varied organizations talked about. Sapphire Ventures, LLC (“Sapphire”) has been granted consent by particular buyers to explain relationships as they’re introduced throughout the article, and has additionally been granted consent to make use of related, particular person names which are to be introduced. Nothing introduced herein is meant to represent funding recommendation, and not at all ought to any data supplied herein be used or thought-about as a proposal to promote or a solicitation of a proposal to purchase an curiosity in any funding fund managed by Sapphire. Any supply or solicitation of securities by Sapphire could solely be made in accordance with the present providing paperwork for a managed Fund wherein Sapphire is an advisor. Moreover, Sapphire doesn’t solicit or make its providers out there to the general public; Such choices could solely be supplied to accredited buyers and certified purchasers outlined throughout the Securities Act of 1933 and the Funding Firm Act of 1940. Data supplied displays Sapphires’ views as of a specific time. Such views are topic to vary at any level and Sapphire Ventures shall not be obliged to supply discover of any change. Experiences highlighted inside endorsements supplied about Sapphire Sport solely these of these profiled in these endorsements and should not essentially signify or be indicative of the present, previous or future experiences of different portfolio firms. Previous outcomes and experiences mentioned in these statements should not indicative, or a assure of future outcomes and experiences. The reader shouldn’t assume that any investments recognized inside this text have been or shall be worthwhile sooner or later. Corporations talked about on this article embody all portfolio firms wherein Sapphire Sport has invested. Particular funding recommendation references supplied herein are for illustrative functions solely and should not essentially consultant of investments that shall be made sooner or later. Whereas Sapphire has used cheap efforts to acquire data from dependable sources, we make no representations or warranties as to the accuracy, reliability, or completeness of third-party data introduced herein. No assure of funding efficiency is being supplied and no inference on the contrary must be made. Previous efficiency will not be indicative of future outcomes.

Media Contact:
Tatiana Winograd,
[email protected]

SOURCE Sapphire Sport

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