Sapphire Ventures

Sapphire Ventures is an independent venture capital firm that invests in expansion-stage and later-stage technology companies. Founded in 1996 as the corporate venture arm of SAP, it spun out as an independent entity in 2011. The firm focuses on enterprise technology investments in the US, Europe, and Israel, providing initial investments ranging from USD 5 million to USD 10 million for expansion-stage companies and up to USD 100 million for later-stage businesses. As of 2023, Sapphire Ventures had over USD 8.8 billion in assets under management.

Sapphire Ventures operates several investment strategies. Its main fund invests in enterprise software companies, while Sapphire Sport focuses on sports, media, and entertainment technology. Through Sapphire Partners, the firm also invests in early-stage venture capital funds. Sapphire Ventures typically participates in 7-12 deals annually, often investing in companies valued at over USD 1 billion. The firm prefers to invest in rounds with 5-6 participants and commonly makes investments in the USD 10-50 million range.

Key customers and partnerships

Sapphire Ventures has invested in numerous high-profile technology companies. Some of its notable portfolio companies include LinkedIn, MuleSoft, and Monday.com. The firm often co-invests alongside other prominent venture capital firms.