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Adidas, MSG Sports Among Backers of Sapphire Sport’s Venture Fund

New US venture capital fund Sapphire Sport has raised a further $181m as it focuses on investments in sport, media, technology and entertainment, mostly in California and New York. The fund plans to make about 20 investments.

Investors in Sapphire include some of the biggest names in sport. Adidas, City Football Group, AEG Worldwide, Madison Square Garden Sports, Sinclair Broadcast Group and Arctos Sports Partners now join existing investors which include David Blitzer, co-owner of the Philadelphia 76ers and New Jersey Devils and Stephen Pagliuca, shareholder in the Boston Celtics.

The second funding round brings Sapphire’s total assets under management to $300 million. The fund targets high-growth, early-stage technology companies at the nexus of sport, culture and tech. Its portfolio includes media company Overtime and fitness brand Tonal.


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