In celebration of the holidays, Sapphire worddocx Ventures unveiled a $250 million fund to invest in several sports tech startups.
Sapphire Ventures Sport Fund III, the company’s newest fund, has already invested in five companies: at-home fitness system hdxwallpaper Tonal; live soccer streaming platform Mycujoo; digital sports network Overtime; ticketing and events platform Fevo; and gaming studio Phoenix Labs.
Nino Marakovic, CEO of Sapphire Ventures, informed TechCrunch about their plan to invest in “the best of the best” sports tech startups. He telesup estimated that they would make five or six investments per year between $3 million and $7 million.
Established in 1996 and now independent of German software giant SAP, Sapphire has 40 venture experts investing in enterprise SaaS, infrastructure software, fintech, healthcare IT and crypto-infrastructure. With the happn intention to maximize value-added resources while expanding into Europe and Israel with plans to open offices in Berlin and Tel Aviv according to the name of their most recent fund.
Tetrate
The most obvious use of the new fund was to invest in Tetrate, a service mesh management plane designed to sit on top of your roobytalk infrastructure and offer one central point to manage networking, security and observability across your entire mesh-managed environment. Furthermore, the company innovated with their Titrate Service Bridge which utilizes an exclusive algorithm to optimize performance and scalability for cloud-native applications.
Most impressive of all, the fund’s greatest strength lies in its team located across Austin, London, New York and Palo Alto. This group consists of experienced veterans and recent grads – many with expertise from within high-tech.
