Ex-NBA Star Omri Casspi Launches $60M Fund Targeting Cybersecurity, Cloud & AI
Former NBA player Omri Casspi has secured \(60 million for his new venture fund, **Swish Ventures**, focusing on early-stage investments in **cybersecurity, cloud infrastructure, and artificial intelligence (AI)** startups. The fund aims to back 10 companies with investments ranging from **\)5 million to $7 million per deal**.
From the Court to the Boardroom: Casspi’s Venture Journey
Swish Ventures marks Casspi’s second fund following the launch of Sheva Capital, a $36 million fund, in 2022. While Casspi continues to manage Sheva’s portfolio, he confirmed that no additional funds will be raised under the Sheva brand.
“I’m fully hands-on in growing our companies, but Swish represents our new direction,” Casspi told TechCrunch.
Key Investors and Strategic Focus
Several founders backed by Sheva have joined Swish as investors, including:
- Ophir Ehrlich (Founder of EON)
- Amiram Shachar (CEO of Upwind)
- Gal Ben-David & Alon Arvatz (Co-founders of PointFive)
Institutional investors like Sequoia Capital also serve as anchor backers.
Swish Ventures will maintain Sheva’s core philosophy of investing in seasoned entrepreneurs building market-defining companies, but with a sharper focus on:
- Cybersecurity
- Cloud Infrastructure
- AI Technologies
This contrasts with Sheva’s broader portfolio, which included fintech and Web3 startups.
Why Cybersecurity and AI? Israel’s Tech Dominance
Casspi’s strategy aligns with surging investor interest in cybersecurity and AI, particularly in Israel and the U.S. Israel’s cybersecurity sector alone accounted for over 50% of all VC funding raised by Israeli startups in H1 2024 (Startup Nation Central).
Notable successes include:
- Wiz: Rejected a $23B acquisition offer from Google (TechCrunch)
- EON: Achieved unicorn status within a year of launch (TechCrunch)
Casspi has personally invested in Wiz, while EON is part of Sheva’s portfolio.
Athletes Turned Investors: A Growing Trend
Casspi, the first Israeli NBA player and former national team captain, joins a wave of athletes entering venture capital:
- Serena Williams (Serena Ventures)
- Kevin Durant (35V)
- Stephen Curry (Penny Jar Capital)
- Andre Iguodala (Mosaic General Partnership)
His firms now manage $125 million in assets, with Sheva’s portfolio including:
- Upwind: Recently valued at $900M (TechCrunch)
- PointFive: Founders previously sold a company to Rapid7
Leadership Boost
Swish Ventures has appointed Dana Alexandrovich, former COO of Microsoft Israel, as Operating Partner. Her experience leading sales across the Middle East and Africa adds strategic depth to the team.
Casspi’s pivot reflects both his investment acumen and the explosive potential of cybersecurity and AI in today’s tech landscape.
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