Omri Casspi Closes $250 Million Fund for Swish Ventures
Translated & summarized from N12 by baba
Former NBA player Omri Casspi's venture capital firm, Swish Ventures, has closed its third fund, raising $250 million. The firm now manages approximately $800 million and will invest in early-stage startups across sectors like cybersecurity and AI.
The story in 5 lines · by baba
- Omri Casspi's Swish Ventures raised $250 million for its third fund.
- The fund brings total assets under management to $800 million.
- Investments will target early-stage startups in tech, cyber, and defense.
- Eight of Swish Ventures' previous 20 investments became unicorns.
- Investors include Sequoia Capital and major U.S. institutional funds.
Former NBA player Omri Casspi has announced the successful closing of his third fund for Swish Ventures, raising $250 million. This latest fundraising effort brings the total assets under management for the venture capital firm to approximately $800 million.
Swish Ventures plans to invest in around 12 early-stage companies, with an average investment of $20 million per company. The fund will focus on seed and Series A funding rounds, often co-investing alongside other funds or participating as a joining investor. The firm's investment strategy is supported by an Opportunity Fund, enabling investments from seed to growth stages.
The new fund will target startups in key sectors including cybersecurity, technology infrastructure, physical AI, defense, AI for industrial applications, 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), with the total portfolio value exceeding $60 billion.
Notable portfolio companies include Cognition AI, Applied Compute, and EON. Swish Ventures was launched in early 2025 by founder and sole managing partner Omri Casspi. Investors in the new fund include previous Swish backers as well as new limited partners, such as Sequoia Capital, U.S. institutional investors like pension funds, leading American universities, and family offices.
Casspi stated, "Closing the third fund in a short period, 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."
