Omri Casspi Raises $250 Million for Third Swish Ventures Fund
Translated & summarized from N12 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 early-stage startups.
- Focus sectors include cyber, AI, defense, and technology infrastructure.
- Eight of Swish Ventures' previous investments have become unicorns.
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, specifically seed and Series A rounds, in sectors including cyber, technology infrastructure, physical AI, defense, and AI for government and industrial applications. The fund will operate alongside an opportunity fund that allows Swish to invest 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, is a "vote of confidence in the entrepreneurs we accompany." 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, American pension funds, leading U.S. universities, and family offices.
