Former NBA star Omri Casspi’s Swish Ventures raises $250 million for its third fund to invest in AI and other sectors.

According to YNetNews, Omri Casspi, the first Israeli star to play in the NBA, announced that the venture capital firm he founded, Swish Ventures, has closed its $250 million third fund, bringing the firm's assets under management (AUM) to approximately $800 million. The new fund is expected to invest in around 12 startups, with an average investment of roughly $20 million per deal, focusing primarily on cybersecurity, artificial intelligence, and infrastructure, mainly targeting seed and Series A financing rounds. So far, Swish Ventures has invested in 20 companies, including Cognition AI, Applied Compute, EON, Wonderful, and Upwind, eight of which have achieved unicorn valuations, bringing the total valuation of its portfolio companies to over $60 billion.