Sapphire Ventures, L.P.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Sapphire Ventures, L.P. reported 6 stock positions worth $90.5 million. Its top holding was Braze Class A (BRZE) at 53.5% of the portfolio, followed by Avidxchange (AVDX, 20.2%) and Kaltura (KLTR, 17.7%). Compared with Q1 2025, it opened 1 new position and reduced 2. The biggest buy was a new position in Coreweave Class A (CRWV) and the biggest sale Braze Class A (BRZE, shares −5%).
- Most Recent 13F
- Q2 2026
- Location
- Austin, TX
- CIK
- 0001697665
- Portfolio Value
- $90.5M (Q2 2025)
- SEC Filing
- 0001172661-25-003164 ↗ filed Aug 13, 2025
Holdings Value
Holdings 6 stocks · $90.5M
| BRZE Braze Inc. Class A | 53.46% | 1,665,798 | $48.4M | Reduce -4.6% |
| AVDX Avidxchange Holdings Inc. | 20.19% | 1,866,248 | $18.3M | Reduce -35.6% |
| KLTR Kaltura Inc. | 17.73% | 7,980,295 | $16.0M | No change |
| CRWV Coreweave Inc. Class A | 5.20% | 28,841 | $4.7M | New |
| PATH Uipath Inc. Class A | 2.83% | 200,000 | $2.6M | No change |
| ONTF ON24 Inc. | 0.60% | 100,000 | $543K | No change |
Portfolio Sells Q1 2025 → Q2 2025
Portfolio Buys Q1 2025 → Q2 2025
| CRWV Coreweave Inc. Class A | New | 5.20% | +5.20 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 4 | $103.8M | NTSK, BRZE, KLTR, PATH |
| Q1 2026 | 4 | $99.4M | NTSK, BRZE, KLTR, PATH |
| Q4 2025 | 4 | $74.3M | BRZE, KLTR, PATH, ONTF |
| Q3 2025 | 6 | $84.6M | BRZE, AVDX, KLTR, CRWV, PATH |
| Q2 2025 | 6 | $90.5M | BRZE, AVDX, KLTR, CRWV, PATH |
| Q1 2025 | 5 | $105.1M | BRZE, AVDX, KLTR, PATH, ONTF |
| Q4 2024 | 6 | $124.7M | BRZE, AVDX, KLTR, PATH, 23ANDME HOLDING CO |
| Q3 2024 | 6 | $95.8M | BRZE, AVDX, KLTR, PATH, 23ANDME HOLDING CO |
| Q2 2024 | 6 | $117.5M | BRZE, AVDX, KLTR, PATH, 23ANDME HOLDING CO |
| Q1 2024 | 6 | $134.3M | BRZE, AVDX, KLTR, PATH, 23ANDME HOLDING CO |