Sapphire Ventures Secures $1 Billion to Invest

Sapphire Ventures

Palo Alto based Sapphire Ventures, owned by SAP, secures $1 Billion to invest in a new $700 Million growth fund and a $300 Million tech fund.

Following on the heels of a large group of venture groups – including Lightspeed Ventures Partners, Norwest Venture Partners, Accel Partners, Founders Fund, and Andreessen Horowitz – Sapphire Ventures joins the circle raising $1 Billion plus in 2016.

Like Wells Fargo and Norwest, Sapphire, along with limited partner SAP do not consider themselves corporate venture, but rather classic venture firms who do not invest by funding companies that can be sold to their partners.

Sapphire became an independent unit in 2011, and has subsequently funded 14 companies which have already moved from private to public and includes familiar names like Apigee, Box, and Square. In addition, Sapphire funded 33 acquisitions including the wildly popular LinkedIn.

Sapphire targets companies with a minimum of $5 million in revenue and invests in startups providing funds of up to $25 million.

Former Google GV CEO, Bill Maris, in Talks to Raise $500 Million

Bill Maris

Bill Maris, who founded GV (Google Ventures) in 2009, recently stepped down to allegedly spend more time with his wife and son as well as consider new ideas. A recent report states that Maris is now in talks to raise $500 Million for his own fund. Confirmation of the reports is still pending.

Bill Maris was succeeded by David Krane, who had previously spent nearly 10 years as Google’s Director of Public Affairs and Global Communications. Today GV employs 70, almost all in the United States, with several partners in London and is exceptionally diversified including interests from the food industry to primary medical care.

Considering Bill Maris education in neuroscience, his interest run the gamut, but life sciences seem to intrigue him, meaning any new fund under his direction would have a broad range of interests involved.