News Summary

• Sapphire Sport, the venture fund focused on sports, media, and entertainment, is spinning out from Sapphire Ventures.
• The fund will rebrand as an independent venture firm, 359 Capital.
• The firm’s new name is a tribute to the sub-four-minute mile, a feat once deemed humanly impossible but ultimately achieved through rigorous dedication and perseverance.
• As 359 Capital, the firm will continue to focus primarily on Series A and Series B startups, writing checks between $2 million to $10 million.