Sapphire Sport Rebrands as 359 Capital with $300M AUM in Major Spin-Out Move
Sapphire Sport, a venture capital firm known for its focus on sports, media, and entertainment tech, has officially spun out from Sapphire Ventures to become an independent entity named 359 Capital.
This rebranding, announced on November 10, 2025, marks a significant milestone for the firm as it steps out with $300 million in assets under management (AUM) and a clear vision for consumer-focused innovation.
The Journey from Sapphire Sport to 359 Capital
Originally launched in 2018 under the Sapphire Ventures umbrella, the firm built a reputation for backing early-stage tech companies in sports and adjacent consumer sectors.
With a portfolio of over 30 companies, including notable names like Overtime and Tonal, the firm has already made a substantial impact in the industry.
Current Investments and Financial Backing
Currently, 359 Capital is halfway through investing its $181 million Fund II, supported by iconic limited partners (LPs) from sports, media, and entertainment.
The firm’s independence allows it to sharpen its focus on consumer and consumer-adjacent innovations, a niche that has seen growing interest in recent years.
Historical Context and Industry Impact
Since its inception, Sapphire Sport capitalized on the booming intersection of technology and entertainment, with early investments reflecting trends like esports and at-home fitness.
The spin-out to 359 Capital signals a broader trend of specialized VC firms seeking autonomy to double down on high-growth sectors.
Future Prospects for 359 Capital
Looking ahead, 359 Capital aims to leverage its independent status to forge deeper partnerships and drive innovation in untapped consumer markets.
Industry analysts predict that the firm’s focus on tech-driven consumer experiences could position it as a key player in shaping the future of entertainment and lifestyle sectors.
With its entire team transitioning to the new brand, 359 Capital is poised to maintain continuity while exploring bold new opportunities.
For more details on the announcement, visit the original report on TechCrunch.
