Benzinga | Feb 4, 2021 09:49AM EST

Sapphire Ventures Rakes In $1.7B To Fund Tech Startups

* Sapphire Ventures raked in $1.7 billion to accelerate enterprise technology IPO funding in the U.S., Europe, and Israel, reaching a total Assets Under Management (AUM) of over $5.7 billion as of December 31, 2020.

* The capital will be used to expand the Portfolio Growth team to cater to the start-up requirements.

* Sapphire financed over $970 million across 48 companies and venture funds in 2020. Additionally, two of its companies, JFrog Ltd (NASDAQ: FROG) and Sumo Logic Inc (NASDAQ: SUMO), held an IPO. Another six were acquired, including AllyO, Localytics, PortWorx, Retail Solutions, and Segment by HireVue, Upland Software, Pure Storage, IRI, and Twilio, respectively.

* It has financed over 120 start-ups, including 23 IPOs and 42 acquisitions since 2011.

* "Portfolio Growth is one of the key reasons CEOs partner with Sapphire, which is why we're expanding our services in the areas most important to our portfolio companies," said Head of Portfolio Growth Rami Branitzky.