Omri Casspi launches $50M fund to build up his activity in early-stage tech scene / News - Basketnews.com

Credit: AP – Scanpix Credit AP – Scanpix

The first-ever Israeli NBA player Omri Casspi launched an early-stage venture capital (VC) fund, according to Forbes.

Omri Caspi

Position:SF, PFAge:33Height:203 cmBirth place:Tel Aviv, IsraelProfileNewsStatistics

Venture capital is a form of private equity and a type of financing that investors provide to startup companies and small businesses that are believed to have long-term growth potential.

Venture capital generally comes from well-off investors, investment banks, and any other financial institutions.

Prior to his retirement last year, Casspi was determined to join the growing Israeli entrepreneurial scene and become an active angel investor (private investing).

Today, after a few successful investments under his belt, Casspi has co-founded Sheva, a $50M early-stage investment fund together with veteran early-stage investor David Citron.

"The game of basketball has given me so much, more than I ever dreamed of," the former player said. "Following an unbelievable career of over 25 years, including 16 years as a professional basketball player, I was determined to expose myself to new sectors and grow as an individual.

I feel that my old and new career paths have a lot in common, as ambition and personal drive are the keys to success in both. It's no surprise many of my colleagues have taken this similar route."

The fund intends to make $1M-$2M investments in each of about 20 companies. It has already invested in fintech, cyber security, and web3 venture companies, via the report.

Omri Casspi and his partner are confident that their new fund is an unconventional one.

"VC funds have traditionally viewed ownership, i.e., owning a big chunk of the company, as key to getting the deal done. However, we believe that it creates a misbalance between investors and founders.

When we look at the overall future potential of early-stage investments, we offer to take a much smaller piece of the pie, which increases our chances of getting the investment and reduces the predatory nature of aggressive ownership."

Last summer, the 33-year-old Israeli announced his retirement from professional basketball.

He started his career with Maccabi in 2005. Casspi spent ten years in the NBA before returning to Israel.

The 2.06-meter forward played for seven NBA teams (Kings, Cavaliers, Rockets, Pelicans, Timberwolves, Warriors, Grizzlies) throughout his career and holds career averages of 7.9 points, 4.0 rebounds, and 1.1 assists.

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