Omri Casspi Raises $250 Million for Third Venture Fund

Former NBA player Omri Casspi has successfully raised $250 million for his third venture capital fund, Swish Ventures. This latest fundraising effort brings the total assets under management for Swish Ventures to $800 million. The fund, which began operations in 2025 with Casspi as the sole managing partner, attracted investments from Israeli institutional bodies, the American venture capital firm Sequoia Capital, U.S. institutional investors, and several American universities.

Swish Ventures plans to invest in approximately 12 companies, typically with substantial checks of around $20 million per company. These investments will often be co-led with other funds or made as a participating investment. The fund focuses on early-stage investments, specifically seed and Series A rounds, and operates alongside an opportunity fund that allows Swish to invest across various stages, from seed to growth.

Casspi, who faced initial skepticism when launching his first, smaller seed fund, has since gained access to prominent Israeli and U.S. companies, building a notable portfolio. In late 2025, this success enabled him to raise a larger $100 million for his opportunity fund, which invests in different company stages. His portfolio includes investments in companies like Wonderll, which recently raised $550 million at a $5 billion valuation, and Appwind, which raised $300 million at a $3.8 billion valuation, both doubling their value in under a year.

Other significant Israeli tech investments include EON, Irregular, Tenzai, and Glow, many of which operate in the cybersecurity sector. A key highlight in Casspi's portfolio is the American AI startup Cognition, currently raising capital at a $47 billion valuation, up from a $26 billion valuation just three months prior after raising $1 billion. In total, Swish has invested in 21 companies since its inception, with nine achieving unicorn status (valuation over $1 billion).

Casspi stated, "I know $20 million is a large amount for checks in the early stages of companies' lives, but I want to find the best opportunities that exist. The companies I invest in often receive more than the average investment. This is a small group of exceptional entrepreneurs." He added, "We are at the top globally in terms of returns in our funds, and after Cognition's fundraising, in which I've invested almost since the company's inception, the aggregate value of the companies will reach nearly $100 billion. It was important for me to raise money for the fund from institutional bodies in Israel, so that Israeli investors also profit and gain access to the best companies that exist today, not only in Israel but also abroad. Some institutional bodies have been with me since the first fund."