Sapphire Ventures Draws Who’s Who of Sports to $115 Million Fund
- Jets, 49ers owners are among backers seeking next big thing
- Managers look at startups in technology, media, entertainment
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On the field, the New York Jets and San Francisco 49ers are competitors. Off the field, their owners are teaming up in a new $115 million investment fund by Sapphire Ventures.
The NFL franchises aren’t alone. The anchor investor is City Football Group, which owns Manchester City and the New York soccer club NYCFC. Other backers from the world of sports include entertainment giant AEG, Adidas AG, Major League Baseball, the San Jose Sharks, Sinclair Broadcast Group Inc., and former Fidelity fund manager Jeff Vinik, the owner of the Tampa Bay Lightning.