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Omri Casspi, the first Israeli to play for the NBA has raised $250 million for the third fund of his venture capital firm, Swish Ventures, bringing the firm’s assets under management to about $800 million.
The new fund is expected to invest in roughly 12 companies, with an average investment of about $20 million per company. Swish plans to invest primarily at the seed and Series A stages, either as a co-lead investor alongside another fund or as a participant in a financing round. The firm also operates an Opportunity Fund that allows it to continue backing companies at later growth stages.
Omri Casspi: Deni, immense pride! Seeing the path you’ve taken, the hard work and perseverance — you deserve this. Enjoy every moment on that stage, you’re proof that the sky’s the limit. And this is just the beginning… :)
Former NBA athlete Omri Casspi has raised $60 million for his latest venture fund, Swish Ventures, which will invest in early-stage cybersecurity, cloud infrastructure, and AI startups. The fund plans to back 10 companies, and will invest $5 million to $7 million per deal. Swish Ventures is Casspi’s second fund following the launch of Sheva Capital, a $36 million fund, in 2022. Casspi said he manages Sheva’s portfolio now that its investment period has concluded. “I’m fully hands-on continuing the growth of our companies, but we will not be raising another fund under Sheva,” Casspi told TechCrunch, explaining his role in overseeing both funds
Casspi claims his firms have about $125 million in assets under management. Other startups in Sheva’s portfolio include Upwind, which today confirmed its $900 million valuation (Stephen Curry’s Penny Jar is also an investor) and PointFive, whose founders previously sold a company to Rapid7 and raised $36 million.
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Upon his retirement and return to Israel, Omri Casspi decided to ramp up his activity in the early-stage tech scene. Today, after a few successful investments under his belt, he has co-founded Sheva, a $50M early-stage investment fund together with veteran early stage investor David Citron.
“The game of basketball has given me so much, more than I ever dreamed of,” he shares as he considers the path that led him to his new role. “Following an unbelievable career of over 25 years, including 16 years as a professional basketball player, I was determined to expose myself to new sectors, and grow as an individual. I feel that my old and new career paths have a lot in common, as ambition and personal drive are the key to success in both. It's no surprise many of my colleagues have taken this similar route.”
Last week, at the age of 33, Omri Casspi announced his retirement from professional basketball. However, the former NBA player didn’t wait long to kick off another new post-basketball career, alongside his successful podcast. Casspi is using his fortune to invest in early-stage startups. Recently, the man considered one of the most successful Israeli basketball players of all time, put on his angel hat, investing in Israeli startup Boards’s $6.5 million funding round, led by Bessemer.
Omri Casspi, the first Israeli player to break through in the NBA, announced his retirement from professional basketball on Sunday. Casspi, 33, has spent the last two seasons at Maccabi Tel Aviv — where he first starred before being selected in the 2009 NBA Draft — but has been plagued by injuries. “Basketball has given me a lot over the years. I reached the peaks of European and world basketball that I never dreamed of. I did not believe I’d make those dreams come true,” he said in a statement.
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Culture and Sports Minister Chili Tropper said: “Omri Caspi has shown us throughout his career how much hard work, how much sacrifice is required, and how much determination is necessary when you want to become an elite athlete, when you want to break through.” “Omri is honorably ending his sports career today. I wish us, Israeli sports in particular and the State of Israel as a whole, more athletes and people who will lead us, on and off the playing field,” Tropper added.
Marc Stein: After 10 seasons in the NBA as his country’s first first-round draft pick, Omri Casspi is scheduled to announce his retirement at a news conference tonight in his native Israel. He spent the last two seasons back at @MaccabitlvBC, where he played with the Wizards’ Deni Avdija.
“The game of basketball has given me a lot over the years,” Caspi said in his opening remarks. “As a young boy from Yavneh who started playing with friends and my big brother, who did not really know what he was saying and went out with number 18 on his shirt, today on July 18 I retire. For the [Maccabi] family, this is a group that taught me a lot about professionalism, hard work, victory at all costs. It fell on very modest ears and I appreciate those values I learned”.
Eran Soroka: According to @sport5il's @Roi Cohen - Omri Casspi, who went through some injury-filled seasons lately and had a 10-years NBA career, is about to retire from basketball at the age of 33.