DFX Intelligence
Sapphire Ventures Fund VII, L.P.
As of · the latest observation of this vehicle; each figure below carries its own filing date
- Vintage
- 2025
- Form D sold
- $1.5B
- Reported gross assets
- $74.6M
Form ADV, Jul 30, 2026
FundraisingEvergreen or indefinite offeringADV: Venture Capital Fund
As of · the latest observation of this vehicle; each figure below carries its own filing date
What matters now
- $1.54Bsold at the filing
Latest Form D filed on 20 Aug 2026: $1.54B sold, 32 investors. A Form D amount is what was sold at the filing, never a final close.
A new or amended Form D means the vehicle is taking money now.
- -94%reported GAV
Reported gross assets fell from $1.26B to $74.6M between the Form ADV filings of 29 Mar 2024 and 30 Jul 2026.
The fund's assets as the adviser swears them, never its size or dry powder.
- 2 agentsplacement
2 placement agents named on the vehicle's Form D filings.
A placement agent means the vehicle is marketed to outside LPs.
Drawing the relationship network…
Amounts, each with its basis
- Vintage
- 2025basis: form d first sale
- Target
- unknownnot announced
- First close
- unknownnever inferred from a Form D
- Final close
- unknownonly from an announcement or an LP disclosure
- Announced size
- unknown
- Form D offering
- indefinitewhat may be sold, not what was raised; joined by exact issuer name, corroborated by a person on the adviser's roster named on the filing, the adviser itself named on the filing, the general partner the adviser swears for this fund, the filing's signer sitting on the adviser's roster, the issuer filing from the adviser's state, not sworn by the adviser (confidence 0.85); file 021-555629
- Form D sold
- $1.5Bas of the filing of Aug 20, 2026, 32 investors
- First sale
- Sep 4, 2025
- Reported GAV
- $74.6Mon the Form ADV filed Jul 30, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 3
- Reported on ADV
- Mar 30, 2023 to Jul 30, 2026
Fundraising evidenceWhat counts as raisingA Form D offering is permission to sell, not a fund in market; an amount sold is never a close; an evergreen offering amended every year is not a raise.
Evergreen or indefinite offering
Form D filed or amended 2026-08-20: offering indefinite, sold $1.5bn (fr-1)
evidence dated Aug 20, 2026.
LifecycleFundraising
Form D within 18 months and the offering is not sold out
first sale: Sep 4, 2025vintage year: 2025adv gav as of: Jul 30, 2026vintage basis: Form d first saleform d sold: $1.5Bform d offering: n/aform d latest filed at: Aug 20, 2026
The fund's own reporting through time
3 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 30, 2023 | Venture Capital Fund | $1.3M | 2 | $1.3B | 1% | no | |
| Mar 29, 2024 | Venture Capital Fund | $1.3B | 3 | $1.3B | 1% | no | |
| Jul 30, 2026 | Venture Capital Fund | $74.6M | 3 | $1.3B | 0% |
Principals and agents
3 principals on Form D, 2 placement agents
- Sapphire Ventures (GPE) VII, L.P. Director
- Nino Nikola Marakovic Executive Officer/Director
- Sapphire Ventures (MGP), LLC Promoter
- Connaught (U.S.) LLC placement agent
- Wedbush & Co., LLC placement agent
Service providers
1 named on Form ADV Schedule D and Form D
- CustodianSilicon Valley Bank · MENLO PARK, California, United StatesForm ADV filed Mar 31, 2025 reports.adviserinfo.sec.gov
Limited partners and their reported performanceWhose numbers these areEach row is the LP’s own number: its cash flows and its valuation policy as of its reporting date, not the fund’s. Net IRR is printed only when the LP prints one. The vintage is the LP’s definition (CalPERS: year of its first cash flow; WSIB: year of its initial investment).
0 public LP reports
No public LP has reported this vehicle. The LP tape is read from public pension disclosures (see Limited partners); a fund appears here only when an LP’s report names it.
Known LPs and allocatorsWhat these amounts and dates areA commitment date prints only when the source printed one; otherwise the row carries the date of the report that listed it. A foundation’s 990-PF line is a holding at fair value on its return, never a commitment.
0 relationships, public pensions and the allocator graph, each counted once
No allocator names this vehicle in a public disclosure DFX holds: pension reports, foundation 990-PF returns or endowment disclosures.
Investments attributed to this vehicle
0
No investment attributed to this vehicle. The firm’s investments sit on the firm; a fund gets one only when a source names the vehicle.
Timeline
4 events
- Aug 20, 2026Sapphire Ventures Fund VII, L.P. filed Form D/A: $1,540,506,500 sold (indefinite offering), Private Equity FundForm D filed Fact Form D
- Aug 20, 2026Sapphire Ventures Fund VII, L.P. filed Form D/A: $1,540,506,500 sold (indefinite offering), Private Equity FundForm D filed Fact Form D
- Aug 22, 2025Sapphire Ventures Fund VII, L.P. filed Form D: no sales yet (indefinite offering), Private Equity FundForm D filed Fact Form D
- Mar 30, 2023Sapphire Ventures Fund VII, L.P. first reported on Form ADV by Sapphire Ventures, LLC (Venture Capital Fund), GAV $1,256,250Fund first reported on Form ADV Fact Form ADV
Evidence
31 observations
Every observation on this vehicle
- Entity type: Limited Partnership Aug 20, 2026 Fact Form D
- Entity type: Limited Partnership Aug 22, 2025 Fact Form D
- Form D fund type: Private Equity Fund Aug 20, 2026 Fact Form D
- Form D fund type: Private Equity Fund Aug 22, 2025 Fact Form D
- Form D industry group: Pooled Investment Fund Aug 20, 2026 Fact Form D
- Form D industry group: Pooled Investment Fund Aug 22, 2025 Fact Form D
- Amendment: true Aug 20, 2026 Fact Form D
- Amendment: false Aug 22, 2025 Fact Form D
- Revenue range (Form D): Decline to Disclose Aug 20, 2026 Fact Form D
- Revenue range (Form D): Decline to Disclose Aug 22, 2025 Fact Form D
- Incorporated: withinFiveYears Aug 20, 2026 Fact Form D
- Incorporated: withinFiveYears Aug 22, 2025 Fact Form D
- Jurisdiction: Delaware Aug 20, 2026 Fact Form D
- Jurisdiction: Delaware Aug 22, 2025 Fact Form D
- Amount sold (Form D): $1.5B Aug 20, 2026 Fact Form D
- Amount sold (Form D): $0 Aug 22, 2025 Fact Form D
- Exemptions: 06b, 3C, 3C.1, 3C.7 Aug 20, 2026 Fact Form D
- Exemptions: 06b, 3C, 3C.1, 3C.7 Aug 22, 2025 Fact Form D
- First sale: 2025-09-04 Aug 20, 2026 Fact Form D
- Indefinite offering: true Aug 20, 2026 Fact Form D
- Indefinite offering: true Aug 22, 2025 Fact Form D
- Investors (Form D): 32 Aug 20, 2026 Fact Form D
- Investors (Form D): 0 Aug 22, 2025 Fact Form D
- Minimum investment (Form D): 5,000,000 Aug 20, 2026 Fact Form D
- Minimum investment (Form D): 5,000,000 Aug 22, 2025 Fact Form D
- Securities offered: Equity, pooled Aug 20, 2026 Fact Form D
- Securities offered: Equity, pooled Aug 22, 2025 Fact Form D
- Office address: Aug 20, 2026 Fact Form D
- Office address: Aug 22, 2025 Fact Form D
- Year of incorporation: 2025 Aug 20, 2026 Fact Form D
- Year of incorporation: 2025 Aug 22, 2025 Fact Form D
Relationships across DFX
on 2 other DFX graphs
Across the graphs
Sapphire Ventures Fund VII, L.P. is the same institution as 2 records in RIA and Wealth and Private Equity.
RIA and Wealth1Private Equity1
DFX found 2 relationships across 2 datasets
Which record it is in each graph, what it is called there, and what the two were joined on.
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Record history
4 dated events on the change ledger, latest first
+1 more change on this record's ledger
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.