Palo Alto, California and London, UK-based venture capital firm Sapphire Ventures closed on $1 billion in new capital commitments.
Spun out of global technology leader SAP SE (NYSE:SAP) in early 2011, the firm is operated by its partners, independently, and invests in high-growth, expansion-stage technology startups across the globe. It also acts as a limited partner investing in early-stage venture capital funds across the United States, Europe and Israel.
Led by Nino Marakovic, CEO and managing director, Sapphire Ventures has exited 38 companies, including 15 IPOs and 23 mergers and acquisitions.
Along with the new capital commitment, which brought total assets under management to more than $2.4 billion, Sapphire’s fund investing business has a new evergreen structure. This enables the firm to provide long-term capital to emerging and established fund managers and stand behind them for multiple fund cycles.
To support the growth of its portfolio companies, Sapphire created a dedicated market development team in 2013. This team leverages the firm’s enterprise relationships to connect portfolio companies with decision-makers at Global 1000 companies and drives programs to enhance business development and operations. Initiatives include the annual CIO Summit and monthly events, such as the Next-Gen Tech Stack Forum.