Omri Casspi Raised $250 Million for Third Swish Ventures Fund
The new fund of the former NBA player will invest in about 12 startups in the fields of cyber, AI, and defense. Following the raise, the assets under management of Swish grow to about $800 million.
Omri Casspi has completed a $250 million raise for the third Swish Ventures fund, according to a statement from the fund. Following the raise, the assets under management of Swish grow to about $800 million. The fund intends to invest in about 12 companies, with an average amount of about $20 million per company, leading jointly alongside another fund or as a follow-on investor. It focuses on early investment stages of Seed and Series A, and operates alongside an Opportunity fund that allows Swish to invest in companies from the Seed stage to growth stages.
The new fund will focus on startups in the fields of cyber, technological infrastructure, physical AI, defense, and AI for industrial sectors and government technologies. Since its inception, Swish Ventures has invested in 20 companies, eight of which have become unicorns, and the aggregate value of its portfolio companies exceeds $60 billion. Among the companies in the portfolio: Cognition AI, Applied Compute, EON, Wonderful, Upwind, Long Lake, Glow, Tenzai, PointFive, Irregular, and Turnout. Two of the companies, Wonderful and Upwind, announced just yesterday massive raises of $550 million and $300 million, respectively.
"Completing the third fund raise within a short period of time, and with the support of some of the world's leading institutional investors, is first and foremost a vote of confidence in the entrepreneurs we accompany and the credit goes to them," said Casspi. "For us, the new fund is a direct continuation of our focused strategy; we want to be the most significant partners for the world's leading entrepreneurs. We believe in the precise selection of a small number of exceptional entrepreneurs each year, so we can serve as true partners on their journey."
Swish Ventures was launched in early 2025 by Casspi, the fund's founder, who serves as the sole managing partner. Among the investors in the fund are previous Swish investors alongside new investors, including the Sequoia fund, American institutional entities including pension funds, leading US universities, and family offices.
