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/2021/02/bitcoin-4034393_640.jpg
Digital Assets: South Korean Central Banker Engages In Bitcoin Bashing
February 25, 2021     Digital Assets, News, Regulations

Bank of Korea Governor Lee Ju-yeol, when speaking at a parliamentary session on Wednesday, said crypto-assets such as bitcoin had no intrinsic value and were victim to highly volatile price…

https://dailyalts.com/wp-content/uploads/2021/02/bitcoin-5927460_640.jpg
Digital Assets: Corporates Buy More Bitcoin – MicroStrategy $1B; Square $170M
February 24, 2021     Digital Assets, News

MicroStrategy describes bitcoin as “a dependable store of value.” In an announcement today, MicroStrategy (NASDAQ: MSTR) said it had invested an additional $1.026 billion in the purchase of 19,452 bitcoins…

https://dailyalts.com/wp-content/uploads/2021/02/download_url-0617_klarna_highres-25-1.jpg
Venture Capital: Klarna’s Funding Binge On Course For A $1B Raise
February 24, 2021     FinTech, Latest News, News

Bloomberg reports that Klarna Bank AB, the Swedish fintech startup that was valued at $10.65 billion in September, may raise another $1 billion. But this time its valuation could be…

https://dailyalts.com/wp-content/uploads/2021/02/screenshot-www.tyme_.com-2021.02.24-20_04_34.png
FinTech: Tyme Raises $110M For Its Bank In South Africa, ASEAN Expansion
February 24, 2021     FinTech, News

Tyme has partnered with JG Summit to Launch Digital Bank for the Philippines. Digital banking network Tyme announced Tuesday its raise of $110 million from new investors Apis Growth Fund…