Former NBA Star Omri Casspi Raises $250 Million for Third Venture Fund

Former NBA player Omri Casspi has raised $250 million for the third fund of his venture capital firm, Swish Ventures, marking another major milestone in his transition from professional basketball to the technology investment world.

The new fund brings Swish Ventures' total assets under management to approximately $800 million, according to reports.

Casspi, the first Israeli player to compete in the NBA, founded Swish Ventures after retiring from professional basketball and has rapidly established himself as a significant investor in early-stage technology companies.

The new fund is expected to invest in approximately 12 startups, with investments averaging around $20 million per company. Swish Ventures will primarily target companies at the Seed and Series A stages, either leading investment rounds jointly with other funds or participating alongside other investors.

Focus on AI, Cybersecurity and Defense

The investment strategy of the new fund reflects some of the fastest-growing areas of the global technology market.

Swish Ventures said it will focus on companies developing technologies in cybersecurity, technology infrastructure, Physical AI, defense, industrial artificial intelligence and government technology.

The firm also operates an Opportunity Fund, allowing it to continue supporting portfolio companies as they move beyond their initial funding rounds and into later stages of growth.

Eight Unicorns Among 20 Investments

Swish Ventures has built a strong early portfolio in a relatively short period.

Since beginning operations, the firm has invested in 20 companies, with eight reaching unicorn status, meaning valuations of at least $1 billion. The combined valuation of companies in the portfolio exceeds $60 billion, according to the firm.

Among the companies in Casspi's portfolio are Cognition AI, Applied Compute, EON, Wonderful, Upwind, Long Lake, Glow, Tenzai, PointFive, Irregular and Turnout.

One of the most prominent investments is Cognition AI, the developer of the AI coding agent Devin. Casspi participated in the company's early funding after meeting its founders in 2024, when the company was valued at roughly $150 million.

Backing From Major Institutional Investors

The latest fundraising attracted a group of prominent institutional investors, including Sequoia Capital, U.S. pension funds, American universities, family offices and Israeli institutional investors.

Sequoia had also invested in Casspi's previous fund.

Casspi described the successful fundraising as a vote of confidence in the entrepreneurs backed by Swish Ventures and said the new fund represents a continuation of the firm's focused investment strategy.

From the NBA to Silicon Valley

Casspi spent roughly a decade in the NBA before retiring from professional basketball and moving into venture capital.

His investment career began with Sheva, which he co-founded with investor David Citron in 2022.

He subsequently established Swish Ventures, initially raising tens of millions of dollars to invest in cybersecurity, cloud infrastructure and artificial intelligence.

In December 2025, Swish added a $100 million Opportunity Fund, taking its assets under management at the time to approximately $300 million.

The latest $250 million fund represents a dramatic acceleration of that trajectory and positions Casspi as one of the more prominent Israeli figures in the global venture capital market.

From the basketball court to an $800 million venture capital platform, Casspi's second career is rapidly becoming as notable as his first.