# Sapphire Ventures, LP

> Sapphire Ventures, LP is an SEC-registered investment advisory firm in Austin, TX, registered since 2012, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 30, 2026.

- CRD: 161558
- Filed as: SAPPHIRE VENTURES, LP
- Also doing business as: SAPPHIRE
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Austin, TX
- Filing period: October 2026
- Form ADV filing dated: July 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/161558
- AdvisorCensus page: https://advisorcensus.com/firm/sapphire-ventures-lp-austin-tx-161558

## Quick answers

**How is Sapphire Ventures, LP compensated?**
On its Form ADV (Item 5.E, October 2026), Sapphire Ventures, LP reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**Where is Sapphire Ventures, LP located?**
Sapphire Ventures, LP's principal office is in Austin, TX, according to its Form ADV; the August 2026 filing also lists 3 other offices (Schedule D, Section 1.F).

**Is Sapphire Ventures, LP registered with the SEC or a state?**
Sapphire Ventures, LP is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 161558.

**How much does Sapphire Ventures, LP manage?**
Sapphire Ventures, LP reports $10,442,887,960 in regulatory assets under management in its Form ADV filing dated July 30, 2026 (100% discretionary).

**How have Sapphire Ventures, LP's assets and staff changed since 2021?**
In the Form ADV data for Sapphire Ventures, LP: Regulatory assets under management: $6,814,316,299 in the October 2021 data and $10,442,887,960 in the October 2026 data, up 53%. Total employees: 52 in October 2021 and 72 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Sapphire Ventures, LP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (18).

**Does Sapphire Ventures, LP report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/161558

**What changed in Sapphire Ventures, LP's recent Form ADV filings?**
In the August 2026 filing data: Changed its legal name from Sapphire Ventures, LLC to Sapphire Ventures, LP. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $10,442,887,960
- Discretionary: $10,442,887,960
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 18 | $10,442,887,960 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2012 (14 years)
- Employees: 72 total, 22 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- London
- Menlo Park, CA
- San Francisco, CA

### Websites listed on Form ADV (Item 1.I)
- events.sapphireventures.com/hypergrowthsummit
- openlp.com
- sapphireventures.com
- LinkedIn @SAPPHIREVC
- LinkedIn @sapphire-partners-lp
- X @Open_LP
- X @SAPPHIREVC
- YouTube @UCU15ELvJ1AcdL-c_-n_JCjQ

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $6,814,316,299 | 52 | May 6, 2021 |
| October 2022 | $10,285,084,856 | 71 | August 31, 2022 |
| October 2023 | $9,969,208,815 | 95 | March 30, 2023 |
| October 2024 | $10,775,605,970 | 86 | March 29, 2024 |
| October 2025 | $11,339,080,933 | 89 | March 31, 2025 |
| October 2026 | $10,442,887,960 | 72 | July 30, 2026 |

Regulatory assets under management: $6,814,316,299 in the October 2021 data and $10,442,887,960 in the October 2026 data, up 53%.
Total employees: 52 in October 2021 and 72 in October 2026.

## Changes in the filing (last 12 months)

### August 2026
- Changed its legal name from Sapphire Ventures, LLC to Sapphire Ventures, LP.
- Updated its list of owners and control persons (Schedule A).

### May 2026
- No longer lists the business name Sapphire Partners.
- Employees performing advisory functions went from 30 to 22.
- Regulatory assets under management went from $11,962,021,512 to $10,442,887,960 (-13%).

### April 2026
- No longer lists the business name Sapphire Sport.
- Employees performing advisory functions went from 34 to 30.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Sapphire Ventures, LP (CRD 161558): Form ADV filing data as of October 2026.