Sapphire Sport

Renamed

Overview

Sapphire Sport was a venture capital fund focused on early-stage technology companies in sports, media, entertainment, and e-commerce. Operating as part of Sapphire Ventures, it invested in Seed through Series C stage companies, typically writing checks between $2-10 million. The fund maintained a distinct limited partner base composed of iconic figures and brands from sports, media, and entertainment sectors, differentiating it from Sapphire Ventures' broader software focus.

History

Sapphire Sport was founded in 2019 as a specialized venture fund within Sapphire Ventures, incubated by the parent firm's co-founders David Hartwig and Doug Higgins. The fund closed its second fund at $181 million in January 2023. In November 2025, Sapphire Sport spun out from Sapphire Ventures and rebranded as 359 Capital, becoming an independent venture firm with $300 million in assets under management and a portfolio of over 30 companies.

Reputation

Sapphire Sport was recognized as a sector-focused venture capital firm with deep industry connections in sports, media, and entertainment. The fund's unique positioning came from its LP base of prominent sports and entertainment brands, providing portfolio companies with connectivity to difficult-to-penetrate markets. The firm's transition to 359 Capital reflects confidence in its investment thesis and the strength of its portfolio, though as a venture fund rather than a product company, traditional reputation metrics around brand perception differ from consumer-facing businesses.

Sources (6)