Omri Casspi, the former professional basketball player turned venture capitalist, has closed a $250 million third fund for Swish Ventures. The new vehicle raises the firm's total assets under management to approximately $800 million and highlights a rapid rise for a fund that only began operating in early 2025. The announcement reinforces Casspi's growing presence across the Israeli and American technology investment landscape.
A Rapid Ascent in Venture Capital
Swish Ventures began operating in 2025 with Casspi as its founder and sole managing partner. The former NBA player initially faced skepticism while managing a small seed fund, but he quickly secured access to high-demand startups in Israel and the United States. That early momentum helped him close a $100 million Opportunity Fund by the end of 2025 and set the stage for the new $250 million vehicle.
Third Fund Size and Strategy
The new fund will invest in roughly 12 companies, with average checks of about $20 million per company. Swish intends to act as a co-lead or participating investor in early-stage Seed and Series A rounds. The fund will operate alongside the Opportunity Fund, enabling the firm to back companies from seed through growth stages.
Institutional Investor Support
Investors in the third fund include Sequoia Capital, Israeli institutional investors, United States pension funds, American universities, and family offices. Several backers have supported Casspi since his first fund, reflecting sustained confidence in his approach. The firm said the capital will support a focused portfolio of early-stage technology companies.
Portfolio Performance and Notable Investments
Since its inception, Swish Ventures has invested in 20 companies, eight of which have become unicorns, with a combined portfolio valuation exceeding $60 billion. Notable portfolio companies include Cognition AI, Applied Compute, EON, Wonderful, Upwind, Long Lake, Glow, Tenzai, PointFive, Irregular, and Turnout. Several holdings have more than doubled their valuations in under a year, with Cognition AI reportedly raising at a $47 billion valuation.
Focus on Strategic Technology Sectors
The fund's focus areas include cybersecurity, technology infrastructure, physical AI, defense, industrial AI, and government technology. Casspi is directing capital toward sectors where public and private organizations face urgent modernization demands and complex security challenges. This thematic approach is intended to support founders building critical solutions for large enterprise and government customers.
Leadership Perspective
Casspi said the closing of the third fund is a vote of confidence in the founders Swish backs and a continuation of its concentrated strategy. He emphasized the firm's goal of being a meaningful partner to a small number of exceptional entrepreneurs each year. He also noted that large early-stage checks are deliberate, allowing Swish to back the best opportunities with more capital than average.
The $250 million fundraise reinforces Swish Ventures' emergence as a notable early-stage technology investor. It also gives Israeli institutional investors access to leading startups in both Israel and the United States across high-priority sectors. With a concentrated portfolio, strong early returns, and backing from prominent institutions, Casspi has translated athletic discipline into a fast-rising venture platform.
Source: CTech