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Sapphire Partners
Limited partner investing in early-stage venture fund managers.
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Sapphire

BACKING Exceptional Early-Stage Venture Fund Managers

Sapphire Partners is a Limited Partner seeking to invest in elite early-stage venture capital funds, across the U.S., Europe, and Israel.

We work with exceptional venture funds across sectors and geographies, and we’ve developed a clear perspective on what it takes to be best in class.

Given our venture focus, we believe we’re well positioned to help our portfolio of GPs grow into industry leaders with our experience, deep industry insights from our proprietary database and our OpenLP initiative, which aims to demystify the “LP perspective.”

{"data":[{"author_id":"708387810319839232","id":"2031387853817594253","public_metrics":{"retweet_count":0,"reply_count":1,"like_count":5,"quote_count":0,"bookmark_count":6,"impression_count":1166},"edit_history_tweet_ids":["2031387853817594253"],"text":"Michael Larsen of Cambridge Associates has sat in on ~5,000 GP meetings & spent nearly 2 decades advising institutional investors & family offices.\n\nOn @DWeisburd's How I Invest, he shared a few lessons from his experience for LPs building VC portfolios:\n\n• Venture decisions","created_at":"2026-03-10T15:13:00.000Z"},{"author_id":"708387810319839232","id":"2026711972562219263","public_metrics":{"retweet_count":2,"reply_count":2,"like_count":10,"quote_count":1,"bookmark_count":12,"impression_count":12500},"edit_history_tweet_ids":["2026711972562219263"],"text":"Does portfolio size change risk tolerance? Research suggests more diversified GPs may take more risks because they can afford more misses. And always, research > speculation.\n\nVenture is full of “what we’re seeing…” but in the latest Origins episode, @credistick reminds us to","created_at":"2026-02-25T17:32:43.000Z"},{"author_id":"708387810319839232","id":"2024933353351532753","public_metrics":{"retweet_count":0,"reply_count":0,"like_count":1,"quote_count":0,"bookmark_count":0,"impression_count":21},"edit_history_tweet_ids":["2024933353351532753"],"text":"@JCassidyHogan Agreed \uD83D\uDE4C","created_at":"2026-02-20T19:45:07.000Z"},{"author_id":"708387810319839232","id":"2024572475296948615","public_metrics":{"retweet_count":0,"reply_count":0,"like_count":1,"quote_count":0,"bookmark_count":0,"impression_count":198},"edit_history_tweet_ids":["2024572475296948615"],"text":"For more insights from Dan listen to the latest episode of Origins with @Beezer232 where they unpack what’s happening beneath the surface in venture right now: https://t.co/Je6N6x4mL8","created_at":"2026-02-19T19:51:07.000Z"},{"author_id":"708387810319839232","id":"2024572473866653827","public_metrics":{"retweet_count":1,"reply_count":1,"like_count":6,"quote_count":0,"bookmark_count":3,"impression_count":669},"edit_history_tweet_ids":["2024572473866653827"],"text":"@credistick synthesized data from Cambridge Associates, @PitchBook, Greenspring Associates, & @SapphirePrtnrs in his latest piece, Too Big to Succeed, making a clear case: emerging managers remain one of the most overlooked opportunities in venture capital. While LP capital","created_at":"2026-02-19T19:51:07.000Z"},{"author_id":"708387810319839232","id":"2024572471509442591","public_metrics":{"retweet_count":3,"reply_count":2,"like_count":8,"quote_count":0,"bookmark_count":4,"impression_count":417},"edit_history_tweet_ids":["2024572471509442591"],"text":"40–70% of total venture gains over the last decade were generated by new & emerging managers, according to Cambridge Associates.\n\nAnd yet 2025 marked the first net decline in active VC firms since the dotcom era, as capital continues consolidating around established brands.\n\nSo https://t.co/Wm1588dy7J","created_at":"2026-02-19T19:51:06.000Z"}],"includes":{"users":[{"username":"Open_LP","created_at":"2016-03-11T20:23:09.000Z","id":"708387810319839232","name":"OpenLP"}]},"meta":{"result_count":6,"newest_id":"2031387853817594253","oldest_id":"2024572471509442591","next_token":"7140dibdnow9c7btwoxgufkkmxhxbkzh7d59pd6oro7xt"}}

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A Sapphire Partners Initiative

OpenLP curates key content and resources for GPs, LPs, entrepreneurs, and other stakeholders to help them stay on top of their game. 

By sharing insights across the VC ecosystem, we aim to demystify the LP perspective and help you develop a greater understanding of the venture market and the technology startup ecosystem. 

Click below to explore the latest articles, podcasts, reports, and more on OpenLP. 

Get in Touch

If you’re an early-stage venture fund in the US, Europe or Israel and would like to get in touch with Sapphire Partners, please click below to learn more about us and what we look for.

Get in touch page visual

By the numbers

  • 270+
    underlying portfolio companies valued at $1B+
  • ~70%
    diverse managers
  • $1B+
    capital commitments to funds
  • ~60%
    of relationships started as emerging managers
Legal disclaimer

“Underlying companies valued at $1B+” is an estimated count of underlying portfolio companies in third-party funds in which Sapphire has invested,  with valuations greater than $1B based on a combination of audited & unaudited valuations from third party fund managers, as well as Pitchbook estimates, both as of  Q2 2023 which are subject to change. Sapphire Partners has no investment discretion with respect to the investments made by the third-party managed funds in which Sapphire Partners has invested. 

“Capital Commitments to funds”– Figure represents the cumulative amount of capital commitments made to third-party managed funds on the behalf of funds managed by Sapphire.

“Diverse Managers” – Sapphire defines a diverse manager as a third-party manager in which Sapphire has invested that includes a female and/or underrepresented minority professional with investment decision-making ability. While Sapphire has used reasonable efforts and assumptions to determine such results according to third-party information and internal analysis, Sapphire provides no guarantee of accuracy of results. Additionally, categorizations may be viewed differently by other market participants.

“Emerging Managers”– Sapphire defines an emerging manager as a third-party manager in which Sapphire has invested in a fund series I through III of such a fund manager. While Sapphire has used reasonable efforts and assumptions to determine such results according to third-party information and internal analysis, Sapphire provides no guarantee of accuracy of results. Additionally, categorizations may be viewed differently by other market participants.