Former NBA Player Omri Casspi Raises $250 Million Fund, Pushing Swish Ventures to $800 Million

Former NBA role player turned venture capitalist Omri Casspi has been on a winning streak.

A slam dunk. Former NBA player Omri Casspi has built Swish Ventures into an $800 million venture-capital firm focused on AI infrastructure, cybersecurity and other early-stage technology companies. [Photo: Pkantz, Wikimedia Commons]

He invested in Cognition, the artificial-intelligence startup behind the coding agent Devin, at an early stage when the company was valued at about $150 million.

Cognition has since become one of the most closely watched AI startups, with its valuation reportedly approaching $47 billion.

Casspi's Swish Ventures is now announcing its third and largest fund, raising $250 million from investors as the Tel Aviv-based firm expands its focus on early-stage companies in artificial intelligence infrastructure and cybersecurity.

The new fund brings Swish's assets under management to approximately $800 million.

Swish Ventures plans to invest in roughly 12 companies through the new fund, with average investments of about $20 million. The firm invests primarily at the seed and Series

A stages while also operating an Opportunity Fund that allows it to continue backing companies as they grow.

Casspi, who spent 10 years in the NBA before retiring from professional basketball in 2021, said his investment philosophy centers on backing founders with unusual strengths and determination.

"He can build whatever he wants—I just wanted to be in business with Scott," Casspi said of Cognition co-founder Scott Wu.

"We want to invest in 'spiky' people, folks that have an unfair advantage to a certain extent in their industries and have a cutthroat mentality."

Casspi's transition from professional basketball to venture capital has made him an increasingly prominent investor in Israel's technology ecosystem.