Sapphire Ventures: Exploring the Expertise of Josh Shieber

It announced a $30 million Series C financing round today, raising the entire amount to $50 million. Sapphire Ventures, based in Silicon Valley, led the latest funding round. Mangrove Capital Partners, Felix Capital, SAP.iO, and aws Gründerfonds have also re-invested in this newest round.

Adverity will use the Series C funding to expand its business and office network and R&D. IKEA, Unilever, MediaCom, and IPG Mediabrands are among Adverity’s clients.

“Our platform plays a critical role in helping enterprises become agile, empowering digital teams with intelligent insights,” said Alexander Igelsböck, CEO and co-founder of Adverity. We must invest in evolving and developing new solutions, improving access and quality, and addressing data challenges.

What is Sapphire Ventures?

Sapphire Ventures, a top venture capital firm that partners with unrealistic teams and venture funds to build companies of significance, announced today that it had raised $1.7 billion in multiple funds. The new capital, which Sapphire has already begun to invest from, will be used primarily to increase the firm’s investments in Series B through IPO enterprise technology companies in the United States, Europe, and Israel. Sapphire Ventures’ total Assets Under Management (AUM) will now exceed $5.7 billion as of December 31, 2020.

Sapphire Ventures’ new fundraiser follows a successful 2020. The sapphire capitalized and committed more than $970 million in 48 companies and venture funds between January 1, 2020, and December 31, 2020. Furthermore, two of Sapphire’s portfolio companies, JFrog (NASDAQ: FROG) and Sumo Logic (NASDAQ: SUMO), held Nasdaq IPOs. Six companies were acquired: AllyO by HireVue, Localytics by Upland Software, PortWorx by Pure Storage, Retail Solutions by IRI, and Segment by Twilio.

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Sapphire Ventures, SAP’s former corporate venture arm, has raised $1.4 billion in growth capital, including a $150 million opportunity fund to support more significant transactions.

The firm primarily invests in enterprise technology companies in the United States, Europe, and Israel and makes Series B investments through pre-IPO companies. 23andMe, Sumo Logic, and TransferWise are among the companies in its portfolio.

Sapphire Ventures, which broke away from the German software company SAP in 2011, now has assets under management worth more than $4 billion. Sapphire will use the new funds to write checks ranging from $5 million to $100 million, allowing the team to “do any financing we need or want,” CEO and Managing Director Nino Marakovic tell TechCrunch. Sapphire’s fourth growth fund is more than double the size of the firm’s previous fund, which was $700 million.

“We need this fund because companies are staying private much longer because they want to hit a revenue run rate of $200 million before going public,” Sapphire Ventures (series sapphire venturesshiebertechcrunch) president and co-founder Jai Das (pictured) tells TechCrunch. “We want the capital to support these businesses as they grow.”

The fund’s announcement comes nearly a year after Sapphire Ventures raised $115 million from new limited partners to invest in tech, sports, media, and entertainment. Sapphire Sport has ties to the sports industry, including City Football Group, which owns Manchester City in the English Premier League, and Adidas, which owns the Indiana Pacers, New York Jets, San Jose Sharks, and Tampa Bay Lightning, among others.

Who is Jonathan Shieber?

Jon Shieber is a Footprint Coalition venture partner and editor in chief in Techcrunch. He previously worked as a senior reporter for Dow Jones & Co. in Los Angeles, New York, and Shanghai, covering venture capital and private equity investment in cleantech, climate tech, and energy.

series sapphire ventures shieber TechCrunch

Sapphire Ventures (series sapphire venturesshiebertechcrunch) will invest $2 billion in two new funds, Sapphire Ventures Fund VI and Sapphire Ventures Opportunity Fund III, in growth-stage enterprise companies.

According to Nino Markovic, CEO of Sapphire, the new funding represents the venture capital firm’s most significant raise to date, giving it more than $8.8 billion in assets under management with team members in Austin, London, New York, Palo Alto, and San Francisco.

Sapphire has raised $3.7 billion in capital in the last year, including a $1.7 billion announced in February that will be invested in enterprise technology companies, according to Marakovic.

Sapphire was founded in 1996 and invested in Series B and IPO stage companies in the United States, Europe, and Israel. The company is investing in value-added resources and planning to open offices in Berlin and Tel Aviv in Europe and Israel.

Its 40 investment professionals focus on enterprise SaaS, infrastructure software, fintech, healthcare IT, and crypto-infrastructure. DocuSign, LinkedIn, Fitbit, Box, Sumo Logic, and 23andMe are among the companies in which the firm has made significant investments.

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