In the quiet rhythm of Tel Aviv’s technology corridors, where ideas often begin as conversations around small tables before becoming companies, another large pool of capital has now taken shape. Swish Ventures, the Israeli venture capital firm founded by former NBA player Omri Casspi, has closed its third fund at $250 million, marking another step in its short but rapidly expanding investment journey.
The new fund brings Swish Ventures’ total assets under management to roughly $800 million. The figure reflects the pace at which the firm has expanded since its founding in early 2025, while positioning the new vehicle toward early-stage technology companies that are still building products, teams and markets.
According to Reuters, the fund has closed to new investors after reaching the $250 million target. The capital is expected to be deployed across approximately 12 companies, with an average investment of about $20 million per company. Swish can participate as a co-lead alongside another fund or join an existing investment round.
Its investment focus stretches across several technology areas, including cybersecurity, technology infrastructure, Physical AI, artificial intelligence for industrial applications and government technology. The firm also operates an Opportunity Fund, allowing it to remain involved as companies move beyond their earliest stages.
That structure gives the firm a wider path through the life of a startup. Instead of concentrating solely on the first financing round, Swish Ventures can follow companies as they move from Seed and Series A financing toward later growth. In an industry where capital needs can change quickly, that continuity can become an important part of an investment strategy.
The fundraise also comes against a backdrop in which artificial intelligence and cybersecurity remain major areas of interest for technology investors. Swish’s portfolio reflects that direction, with investments spanning companies working across AI, infrastructure and security. Since its establishment, the firm says it has invested in 20 companies, eight of which have reached unicorn status.
Casspi’s transition from professional basketball into venture capital adds another layer to the story. After becoming the first Israeli player in the NBA and spending his playing career between 2009 and 2019, he moved into technology investing and established Swish Ventures in 2025. Reuters described him as the firm’s founder and sole managing partner.
The new fund has attracted both existing backers and new investors, including Sequoia Capital, U.S. institutional investors, pension funds, universities and family offices, according to Globes. The combination gives the fund a broad investor base while placing its next investment cycle within a larger international technology ecosystem.
For Israel’s startup market, the announcement is another indication of continued interest in companies developing technologies around AI, security and infrastructure. Swish Ventures now has a larger pool from which to select a relatively small number of companies, keeping its stated strategy focused on early-stage businesses and close participation with their founders.
The next chapter will unfold gradually, company by company, as the $250 million fund moves from commitments on paper into investments across Israel’s technology landscape. For now, the closing of the third fund gives Swish Ventures a larger platform from which to continue that journey.
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Sources Reuters Globes
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