Sapphire Ventures, the venture capital firm with $2.5 billion assets under management, has launched a $115 million sports fund targeted at early stage startups. Sapphire has previously invested in such big names as 23andMe, Box, and Fitbit.
The fund, called Sapphire Sport, is Sapphire’s first dedicated sports fund and its first fund ever focused on early stage startups (Series A and Series B).
Sapphire Sport promises to spur collaboration between the VC and and a number of leading sports, media and entertainment brands, including major league team owners from the NFL, the NBA, the NHL, MLB, and MLS, and brands such as Adidas and the Sinclair Broadcast Group.