Sapphire Ventures, L.P.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Sapphire Ventures, L.P. reported 4 stock positions worth $74.3 million. Its top holding was Braze Class A (BRZE) at 76.9% of the portfolio, followed by Kaltura (KLTR, 17.6%) and Uipath Class A (PATH, 4.4%). Compared with Q3 2025, it sold out of 2. The biggest sale was an exit from Avidxchange (AVDX).

Most Recent 13F
Q2 2026
Location
Austin, TX
CIK
0001697665
Portfolio Value
$74.3M (Q4 2025)
SEC Filing
0001172661-26-000609 ↗ filed Feb 11, 2026

Holdings Value

0$50.0M$100.0M$150.0M Q1 2024: $134.3M Q1 2024 Q2 2024: $117.5M Q2 2024 Q3 2024: $95.8M Q3 2024 Q4 2024: $124.7M Q4 2024 Q1 2025: $105.1M Q1 2025 Q2 2025: $90.5M Q2 2025 Q3 2025: $84.6M Q3 2025 Q4 2025: $74.3M $74.3M Q4 2025 Q1 2026: $99.4M Q1 2026 Q2 2026: $103.8M Q2 2026

Holdings 4 stocks · $74.3M
BRZE Braze Inc. Class A 76.90% 1,665,798 $57.1M No change
KLTR Kaltura Inc. 17.62% 7,980,295 $13.1M No change
PATH Uipath Inc. Class A 4.41% 200,000 $3.3M No change
ONTF ON24 Inc. 1.07% 100,000 $796K No change

Portfolio Sells Q3 2025 → Q4 2025
AVDX Avidxchange Holdings Inc. Sold out 0.00% −21.94
CRWV Coreweave Inc. Class A Sold out 0.00% −4.66

Portfolio Buys Q3 2025 → Q4 2025
None this quarter.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 4$103.8MNTSK, BRZE, KLTR, PATH
Q1 2026 4$99.4MNTSK, BRZE, KLTR, PATH
Q4 2025 4$74.3MBRZE, KLTR, PATH, ONTF
Q3 2025 6$84.6MBRZE, AVDX, KLTR, CRWV, PATH
Q2 2025 6$90.5MBRZE, AVDX, KLTR, CRWV, PATH
Q1 2025 5$105.1MBRZE, AVDX, KLTR, PATH, ONTF
Q4 2024 6$124.7MBRZE, AVDX, KLTR, PATH, 23ANDME HOLDING CO
Q3 2024 6$95.8MBRZE, AVDX, KLTR, PATH, 23ANDME HOLDING CO
Q2 2024 6$117.5MBRZE, AVDX, KLTR, PATH, 23ANDME HOLDING CO
Q1 2024 6$134.3MBRZE, AVDX, KLTR, PATH, 23ANDME HOLDING CO