· Investment Strategies · 3 sources · Updated · Verified
Swish Ventures Closes $250M Fund III — $800M Is AUM, Not This Vehicle
Omri Casspi’s Swish Ventures closed Fund III at $250 million on September 3, 2026. The firm said AUM is about $800 million. Named portfolio overlap on this site: Cognition, Wonderful, and Upwind. Sequoia is a press-named LP.
By Venture Capital Tracker Editorial
Swish Ventures closed Fund III at $250 million on September 3, 2026. The number that will get copied wrong is about $800 million — that is the firm’s AUM claim after the close, not fresh capital in this vehicle. Casspi is sole managing partner. There is Last verified September 6, 2026**. Sources: Globes, Jerusalem Post, Ynet.
Five-minute decision
| If you need… | Verdict |
|---|---|
| What happened | Fund closed. $250M Fund III. Seed / Series A mandate. ~12 companies, ~$20M average (firm). |
| What $800M is | AUM after the raise, not Fund III. |
| Proof on this site | Cognition, Wonderful, Upwind are named portfolio. |
| Sequoia | Press-named LP. Not a lead on this vehicle and not a substitute for /fund/sequoia deal pages. |
| Tracker next step | Do not expect a directory profile. Compare size to Cherubic VI $68.88M, not to a16z Growth $8.5B. |
Investigate further when: you want a concentrated early check next to a name we already cover.
Wait or pass when: you treat $800M as this fund, or $60B combined portfolio value as a Tracker-verified mark.
What closed
| Field | Detail |
|---|---|
| Firm | Swish Ventures — founded early 2025, Tel Aviv. Sole MP Omri Casspi. Site: swish.vc. |
| Vehicle | Fund III · $250M · Sep 3, 2026 |
| AUM claim | ~$800M after the close (firm / Israeli press) |
| Prior vehicles | Seed fund $60M (TechCrunch, Dec 2024 launch). Opportunity Fund $100M (Globes related item; not re-verified here). |
| Pace | ~12 companies · ~$20M average · co-lead or participant (firm) |
| Mandate | Cyber, infra, physical AI, defense, industrial AI, govtech |
| LP names | Sequoia, U.S. pensions, universities, family offices (press). No LP letter. |
| Named overlap here | Cognition, Wonderful, Upwind |
| Also named, no page | Applied Compute, EON, Long Lake, Glow, Tenzai, PointFive, Irregular, Turnout |
Globes said Swish has invested in 20 companies, eight unicorns, with combined portfolio value exceeding $60 billion. That is a firm marketing total. Three marks we already publish — Cognition’s May $26B (or the ~$47B Bloomberg print), Wonderful’s $5B press mark, Upwind’s ~$3.8B — already explain a large share of that claim. Do not treat $60B as incremental new value created this week.
AIR listed Swish as a participant on its September 1 seed stack. That is a check, not this fund close.
Swish $250M vs Cherubic $68.88M vs a16z Growth $8.5B
| Swish III | Cherubic VI | a16z Growth | |
|---|---|---|---|
| Date | Sep 3, 2026 | Sep 1, 2026 | Aug 31, 2026 |
| Amount | $250M new vehicle | $68.88M new vehicle | $8.5B existing Growth total |
| Job | Concentrated Seed / A | Solo-GP early AI-native | Scale already-winning companies |
| Directory | No | No | Yes |
Do not add them. They answer different founder questions.
What remains undisclosed
No LP letter. No audited AUM roll-forward. No check-by-check list for the 20-name book. Sequoia-as-LP is press, not a Sequoia filing. Do not file this as a Cognition, Wonderful, or Upwind new round.
Related: Cognition · Wonderful $550M C · Upwind ~$300M C · AIR $50M · September 5–6 tape.
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Editorial note: AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.
