Venture Capital: VC Firms Top Tier And Sapphire Close On Nearly $3B Of New Funds

February 5, 2021 | News, Venture Capital
https://dailyalts.com/wp-content/uploads/2021/02/stairs-4781221_640.jpg

Top Tier raised $1.2 billion. Sapphire got $1.7 billion. Both firms invest in other VC firms.

Palo Alto, CA-based venture firm Sapphire Ventures announced Thursday that it recently closed $1.7 billion across multiple funds, bringing its total assets under management to $5.7 billion. On the other hand, San Francisco-based VC, Top Tier Capital Partners, hauled in $1.2 billion from investors, with its total assets going up to $7.5 billion.

Sapphire Ventures

Sapphire said it has already started to deploy the funds it raised. It intends to focus on enterprise technology companies located in the U.S., Europe, and Israel. Sapphire would look for startups in the stages of Series B through IPO.

The firm reported a highly successful 2020, the pandemic notwithstanding. Portfolio companies, JFrog (NASDAQ: FROG) and Sumo Logic (NASDAQ: SUMO), held an IPO on the Nasdaq.

Six companies from Sapphire’s portfolio were acquired, including AllyO, Localytics, PortWorx, Retail Solutions, and Segment.

During the year, Sapphire invested $970 million in 48 companies and venture funds.

“Sapphire Ventures has ample capital to invest in startups throughout all stages of growth,” said Nino Marakovic, CEO and Partner at Sapphire Ventures. “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.”

The firm also invests as a limited partner in other VCs. These include Union Square Ventures and Amplify Partners.

Top Tier Capital Partners

Top Tier is known for its savvy investments in top-drawer venture firms such as Andreessen Horowitz, Mayfield Fund and True Ventures.

It raised $1.2 billion in new commitments for its ninth family of funds, the firm announced in a tweet.

CEO David York told Bloomberg that Top Tier’s reputation assured access to the best venture firms. These were typically companies that had strong networks and could “see around corners.”

“Ninety percent of the success comes from roughly 10% of the managers,” he said.

Related Story:  TalkDesk Raises $143M, Triples Valuation to $3B

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2023/12/AMD_headquarters_santa_clara.624da707519a6.jpg
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…

https://dailyalts.com/wp-content/uploads/2023/12/RHCEU-Inline.jpg
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…

https://dailyalts.com/wp-content/uploads/2023/12/Samsung_UK_Samsung_Pay_Lifestyle_0552-revised-Pictogram-23.11.30-1024x744-1.png
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…

https://dailyalts.com/wp-content/uploads/2023/12/Revaia-founders.jpg
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…