Former NBA player Omri Casspi has launched Swish Ventures, a $60 million fund focused on early-stage investments in cybersecurity, cloud infrastructure, and AI.
This marks Casspi's second venture fund, following the $36 million Sheva Capital launched in 2022. Swish Ventures will invest between $5 million and $7 million in approximately 10 companies. Several founders previously backed by Sheva, including those from Upwind, are now investors in Swish.
While following a similar investment thesis as Sheva, focusing on seed-stage startups with experienced entrepreneurs, Swish has a narrower focus. It concentrates on cybersecurity, cloud infrastructure, and AI, reflecting growing investor interest in these sectors, particularly in Israel and the U.S.
Israel's cybersecurity strength is notable, with the sector attracting significant venture capital. Successful companies like Wiz, known for declining a substantial acquisition offer from Google, highlight Israel's prominence in cloud security.
Casspi joins other athletes venturing into the VC world, including notable figures like Serena Williams, Kevin Durant, Stephen Curry, and Andre Iguodala. With Swish Ventures, Casspi's firms now manage about $125 million in assets.
Swish Ventures also welcomes Dana Alexandrovich as an operating partner, bringing her experience as former COO of Microsoft in Israel.