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The recently launched Swish Ventures, an early-stage investment fund focused on supporting promising Israeli startups, has secured $60 million in its second seed fund. This brings the firm’s total assets under management to $125 million.

Swish Ventures is the second VC firm founded by NBA star Omri Casspi after his retirement from professional basketball, following the foundation of Sheva in 2022.

The new firm’s investment strategy centers on identifying and supporting companies founded by serial entrepreneurs in high-growth sectors like cybersecurity, cloud infrastructure and artificial intelligence.

This latest funding round attracted a diverse group of investors, including Sequoia Capital, Israeli and American institutional investors and a network of over 25 seasoned entrepreneurs.

With this new fund, Swish Ventures announced that it plans to invest in around 10 startups, with individual deals ranging from $5 million to $7 million.

“We are launching Swish at a time when the importance of the high-tech sector to Israel is maturing,” says Casspi. “The industry continues to bring foreign investments into the country. We are hands-on working with entrepreneurs on building large and global Israeli companies.”

Beyond financial success, Casspi said he recognizes the broader impact of the Israeli tech sector. He highlights its role as a global ambassador for the country, fostering international connections and driving positive change.

Musk and Sandberg

“The high-tech sector serves as an ambassador for Israel during these challenging times,” Casspi explained.

“The network of connections within the industry enabled us to initiate the visit of Elon Musk to Israel, one of the most influential people in the world. We have also partnered with Sheryl Sandberg, former COO of Meta and a board member of some of the largest companies in the US, to expose facts about Hamas’ crimes that she has shared worldwide.”

Casspi, 36, continued: “Through the industry’s network, we had the privilege of participating in raising significant donations for the rehabilitation of communities in the Gaza perimeter. The high-tech infrastructure allows us to serve national interests and is more important than ever.”

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