Sapphire Sport Rebrands as 359 Capital with $300M AUM

8 hours ago7 min read

In a move that signals both maturation and ambition within the specialized world of sports-focused venture capital, Sapphire Sport has officially rebranded as 359 Capital, stepping out onto the field with a formidable $300 million in assets under management. This isn't just a simple name change; it's a strategic pivot, the kind of play you'd see from a seasoned startup refining its brand for a Series B push.The firm, which originally launched as a collaborative effort with Sapphire Ventures, is now fully independent, a transition that often unlocks greater agility and focused decision-making, much like a promising division finally spinning off from its corporate parent to chase its own destiny. The rebrand to 359 Capital, a name that evokes a full-circle journey and perhaps a nod to the comprehensive view required for successful investing, comes at a crucial midpoint for the team.They are reportedly already halfway through deploying capital from their second fund, a substantial $181 million war chest dedicated to seeding the next generation of companies at the intersection of technology, media, and the sprawling sports ecosystem. This pace of deployment is telling; it suggests a robust pipeline of deals and a confident, disciplined investment strategy, avoiding the trap of what personal finance gurus often call 'diworsification'—spreading capital too thin without conviction.The sports tech landscape itself is undergoing a revolution far beyond just fantasy apps and jersey sales. We're talking about a fundamental restructuring of how fans engage, how athletes train and monetize their brands, and how franchises operate.359 Capital is placing bets in areas like next-generation fan engagement platforms, which could range from immersive AR experiences to community-driven content hubs, as well as the booming fitness tech sector and the complex backend software that powers modern sports organizations. This is the financial equivalent of investing in the picks and shovels during a gold rush.While everyone watches the star players on the field, firms like 359 are building the infrastructure and tools that enable the entire industry to level up. For founders in this space, securing backing from a specialist firm like this is more than just a check; it's an endorsement and an entry into a network of league relationships, team owners, and veteran operators who can provide unparalleled strategic guidance.The successful raise and active deployment of Fund II, especially in a tighter fundraising environment, speaks volumes about the limited partners' confidence in the team's thesis and execution. It’s a lesson in building a niche expertise, not unlike the advice from 'Rich Dad Poor Dad' to focus on your circle of competence. By going independent, 359 Capital has effectively taken control of its own playbook, and with $300 million AUM and a live fund in active motion, they're not just watching the game from the sidelines—they're calling the plays that could define the future of sports business.

#359 Capital

#venture capital

#spinout

#rebranding

#$300M AUM

#Fund II

#featured

Stay Informed. Act Smarter.

Get weekly highlights, major headlines, and expert insights — then put your knowledge to work in our live prediction markets.