Omri Casspi Raises $250 Million for Third Swish Ventures Fund
Translated & summarized from Mako by baba
Former NBA player Omri Casspi's Swish Ventures has raised $250 million for its third fund, bringing total assets under management to $800 million. The fund will invest in approximately 12 early-stage startups in cyber, AI, and defense sectors.
The story in 5 lines · by baba
- Omri Casspi's Swish Ventures raised $250 million for its third fund.
- Total assets under management for Swish Ventures now reach $800 million.
- The fund will invest in about 12 startups in cyber, AI, and defense.
- Investments will focus on early-stage companies with average $20 million stakes.
- Swish Ventures has backed 20 companies, with eight reaching unicorn status.
Former NBA player Omri Casspi has successfully raised $250 million for the third fund of his venture capital firm, Swish Ventures. This latest fund brings the total assets under management for Swish to approximately $800 million.
The new fund plans to invest in around 12 startups, with an average investment of $20 million per company. Swish Ventures will focus on early-stage investments (seed and Series A) in sectors including cyber, technology infrastructure, physical AI, defense, and AI for government and industrial applications. The firm also operates alongside an opportunity fund, enabling investments from seed to growth stages.
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 exceeds $60 billion. Notable portfolio companies include Cognition AI, Applied Compute, and EON. Two of these companies, Wonderful and Upwind, recently announced significant funding rounds of $550 million and $300 million, respectively.
Casspi stated that the successful fundraising, completed quickly and with support from leading global institutional investors, reflects confidence in the entrepreneurs they back. He emphasized Swish Ventures' strategy of being deeply involved with a select group of exceptional entrepreneurs each year, acting as true partners in their journey. Swish Ventures was launched in early 2025, with Casspi serving as the sole managing partner. Investors in the new fund include previous Swish backers, new institutional investors such as Sequoia Capital, U.S. pension funds, leading American universities, and family offices.
