Omri Casspi Raises $250 Million for Third Venture Capital Fund

Former NBA player and Israeli basketball legend Omri Casspi has raised $250 million for the third fund of his venture capital firm, Swish Ventures. Founded in early 2025, the new fund brings Swish Ventures' total assets under management to approximately $800 million. Casspi's firm has invested in 20 companies to date, including eight unicorns valued at over $60 billion. Notable investments include Cognition AI, Applied Compute, EON, and Wonderful.

One significant investment was in the cybersecurity firm Glow, participating in a $180 million funding round that valued the company at $1.2 billion upon its reveal. Swish Ventures invested alongside major global venture capital firms like Sequoia and Redpoint.

The new fund plans to invest in about 12 additional startups, with an average investment of $20 million per company, often alongside other funds or as a co-investor. The focus areas for investment are cybersecurity, technology infrastructure, "physical AI," defense industry, AI for industrial sectors, and technology for governments.

Casspi, the sole managing partner of Swish Ventures, stated that the new fund continues the firm's strategy of being a significant partner to leading global entrepreneurs. He emphasized a focus on selecting a small number of exceptional entrepreneurs each year. Investors in the new fund include previous Swish backers, new investors such as Sequoia, American institutional investors like pension funds, leading U.S. universities, and family offices.

Casspi explained that his sports career has been instrumental in building his network and fostering long-term relationships, which are crucial in the venture capital world. He noted that his network allows him to connect with influential individuals who invest in funds, entrepreneurs, and potential partners for his portfolio companies. The article also mentions Casspi's investment in the Israeli cybersecurity company Upwind, alongside the investment fund of NBA player Steph Curry, with whom Casspi played.