Omri Casspi's Swish Ventures Raises $250 Million for Third Fund
Translated & summarized from Sport5 by baba
Omri Casspi's venture capital firm, Swish Ventures, has raised $250 million for its third fund, bringing its total assets under management to $800 million. The fund will invest in early-stage startups across various tech sectors, including cybersecurity and AI.
The story in 5 lines · by baba
- Omri Casspi's Swish Ventures raised $250 million for its third fund.
- The fund's assets under management now total $800 million.
- Investments will focus on early-stage startups in tech, cyber, and AI.
- Swish Ventures has previously invested in 20 companies, including eight unicorns.
- Investors include Sequoia Capital and major U.S. institutional funds.
Omri Casspi, the first Israeli to play in the NBA, has announced the successful completion of a $250 million fundraising round for the third fund of his venture capital firm, Swish Ventures. This latest capital infusion brings the total assets under management for the fund to approximately $800 million.
The new fund plans to invest in around 12 companies, with an average investment of $20 million per company. Swish Ventures will act as a lead investor or a participating investor alongside other funds. The firm focuses on early-stage investments, specifically Seed and Series A rounds, and leverages an opportunity fund that allows investments from seed to growth stages.
Swish Ventures' investment strategy targets startups in sectors including cybersecurity, technology infrastructure, physical AI, defense, AI for industry, and technology for governments. Since its inception, Swish Ventures has invested in 20 companies, eight of which have achieved "unicorn" status (valued at over $1 billion). The aggregate valuation of its portfolio companies now exceeds $60 billion.
Notable portfolio companies include Cognition AI, Applied Compute, EON, and Wonderful. Swish Ventures was founded by Omri Casspi, who serves as the sole managing partner. Investors in the third fund include previous Swish Ventures backers as well as new limited partners, such as Sequoia Capital, U.S. institutional investors including pension funds, leading American universities, and family offices.
Casspi stated, "Completing the fundraising for the third fund in a short period, and with the support of some of the world's leading institutional investors, is first and foremost an expression of confidence in the entrepreneurs we support, and the credit belongs to them. For us, the new fund is a direct continuation of our focused strategy; we want to be the most significant partners to the world's leading entrepreneurs. We believe in the precise selection of a small number of exceptional entrepreneurs each year, allowing us to serve as true partners on their journey."
