The venture capital platform Sapphire Sport has raised $181 million for a new fund focusing on sports, media, entertainment and technology in North America, mainly in California and New York, Bloomberg has reported. The new fund’s investors include Adidas, AEG Worldwide, Arctos Sports Partners, the Bank of Montreal, City Football Group, Madison Square Garden Sports, and Sinclair Broadcast Group. The fund is also backed by Stephen Pagliuca, co-owner of the Boston Celtics, and David Blitzer, co-owner of the Philadelphia 76ers. The management is reportedly aiming at 18 to 20 different investments, focusing on free-to-play gaming, digital commerce and health, among other areas.

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