---
title: "Swish Ventures Closes $250M Fund III — $800M Is AUM, Not This Vehicle"
description: "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. No Swish /fund/ page here."
date: 2026-09-06T00:00:00.000Z
tags: ["2026-vc-news", "venture-capital", "fund-close", "fund-tracker", "market-analysis"]
source: https://venturecapitaltracker.com/2026-swish-ventures-250m-fund-iii
---

# 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. No Swish /fund/ page here.

**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 **no** Swish `/fund/` page here. Last verified **September 6, 2026**. Sources: [Globes](https://en.globes.co.il/en/article-omri-casspis-swish-ventures-closes-250m-fund-1001554339), [Jerusalem Post](https://www.jpost.com/business-and-innovation/tech-and-start-ups/article-907430), [Ynet](https://www.ynetnews.com/business/article/sjrsop8ugx).

## 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](/startup/cognition), [Wonderful](/startup/wonderful), [Upwind](/startup/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](/2026-cherubic-ventures-68-88m-fund-vi), not to [a16z Growth $8.5B](/2026-a16z-8-5b-growth-fund). |

**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](https://www.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 this pass). |
| 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](/startup/cognition), [Wonderful](/startup/wonderful), [Upwind](/startup/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](/2026-air-security-50m-seed-sequoia-greenoaks) 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](/2026-cherubic-ventures-68-88m-fund-vi) | [a16z Growth](/2026-a16z-8-5b-growth-fund) |
| --- | --- | --- | --- |
| 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](/fund/andreessen-horowitz) |

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 invent a Swish `/fund/` page. Do not file this as a Cognition, Wonderful, or Upwind **new round**.

Related: [Cognition](/startup/cognition) · [Wonderful $550M C](/2026-wonderful-550m-series-c-5b) · [Upwind ~$300M C](/2026-upwind-300m-series-c-3-8b) · [AIR $50M](/2026-air-security-50m-seed-sequoia-greenoaks) · [September 5–6 tape](/2026-september-5-6-investment-news-swish-sweep).

**By:** [Venture Capital Tracker](https://venturecapitaltracker.com/editorial-policy)
**Last updated:** September 6, 2026

**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.