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Adidas, MSG Sports Among Backers of Sapphire Sport’s Venture Fund

January 25, 2023

Some of the largest companies in sports have invested in a new venture capital fund.

Sapphire Sport has raised $181 million from a group of investors that include Sinclair Broadcast Group, Adidas, Madison Square Garden Sports, Arctos Sports Partners, City Football Group, and AEG Worldwide.

The fund will focus on investments in sports, media, tech, and entertainment, aims to make about 18-20 different investments, mainly in California and New York and has explored opportunities in free-to-play gaming, health, and e-commerce. FOS