AEG backs $115m Sapphire sports/entertainment fund
Anschutz Entertainment Group joins Manchester City, Adidas and others in investing in Sapphire Sport, which aims to bring VC expertise to sports, media and entertainment
News By IQ | 29 January 2019
Technology-focused venture-capital investor Sapphire Ventures has launched Sapphire Sport, a US$115 million fund which will invest in early-stage start-ups “at the intersection of sports, media and entertainment”.
According to California-based Sapphire, which manages more than $2.5 billion worth of assets, Sapphire Sport combines the firm’s investment experiences with “premier global sporting, media and lifestyle brands”, including Manchester City FC owner City Football Group, other US sports teams from the National Football League (NFL), Major League Baseball (MLB), National Basketball Association (NBA), National Hockey League (NHL) and Major League Soccer (MLS) and investors such as AEG, the Bank of Montreal, Adidas and US television giant Sinclair Broadcast Group (SBG).
Sapphire Sport launches with a portfolio of five start-ups: including Tonal, a digitally connected home fitness…
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