PALO ALTO — Venture capital firm Sapphire Ventures said 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.
In 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.
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.
“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.”
Marakovic announced he has opened a new office for Sapphire in Austin and will relocate there from Silicon Valley.