Omri Casspi, the first Israeli to play for the NBA has raised $250 million for the third fund of his venture capital firm, Swish Ventures, bringing the firm’s assets under management to about $800 million.
The new fund is expected to invest in roughly 12 companies, with an average investment of about $20 million per company. Swish plans to invest primarily at the seed and Series A stages, either as a co-lead investor alongside another fund or as a participant in a financing round. The firm also operates an Opportunity Fund that allows it to continue backing companies at later growth stages.
Omri Casspi
(Photo: Ilya Melnikov)
Swish said the new fund will focus on startups in cybersecurity, technology infrastructure, physical AI, defense, industrial AI and government technology.
Since its launch, the firm has invested in 20 companies. Eight of them have reached unicorn status, and the combined valuation of the Swish portfolio companies exceeds $60 billion. Its portfolio includes Cognition AI, Applied Compute, EON, Wonderful, Upwind, Long Lake, Glow, Tenzai, PointFive, Irregular and Turnout.
Casspi launched Swish Ventures in early 2025 and serves as its founder and sole managing partner. According to the firm, investors in the new fund include existing backers as well as new investors, among them Sequoia Capital, U.S. pension funds, American universities and family offices.
“Closing our third fund in a short period of time, with the support of some of the world’s leading institutional investors, is first and foremost a vote of confidence in the founders we back and the credit they deserve,” Casspi said.
“For us, the new fund is a direct continuation of our focused strategy. We want to be the most meaningful partners to the world’s leading entrepreneurs. We believe in carefully selecting a small number of exceptional founders each year, allowing us to serve as true partners to them throughout their journey.”