Pitango VC, established in 1993, is Israel’s largest and longest standing venture capital fund with over US$3 billion under management as of 2025, with a recent vintage in 2020 of US$750M making it the largest venture group in Israel.[1]
Headquartered in Tel Aviv, Israel (Sarona) Pitango has raised 14 venture funds, invested in more than 300 companies and accomplished over 90 companies becoming publicly traded in NASDAQ and NYSE or acquired by strategic players such as Google, Apple, IBM, Cisco. Investors are institutional and strategic investors from the US, Europe, Japan, and SouthEast Asia and have included Time Warner, Citigroup, Eastman Kodak, Deutsche Bank and HarbourVest Partners.[2]
Pitango VC invests through three dedicated funds, Pitango First (early-stage investments),[3] Pitango HealthTech (HealthTech investments),[4] and Pitango Growth (growth investments).[5]
The fund was founded as Polaris Venture Capital in 1993 by Rami Kalish. In 1996, Kalish was joined by Chemi Peres, son of former Israeli president Shimon Peres, to create Polaris Fund II, which raised more than $100 million. Polaris II invested in 35 high-tech companies.[11]
In 2001, Polaris Venture Capital changed its name to Pitango Venture Capital to avoid confusion with Boston-based Polaris Venture Partners.[12] Although the Boston firm was founded in 1996, which was after Pitango was founded, the Israeli firm decided to change its name. Pitango takes its name from the semi-wild Surinam Cherry that grows in Israel.
Since then, the company has grown to include 14 partners, a value-add team, an operations and support team, and venture partners.
^Cohen, Omri (7 February 2007). "Biotech comes of age: Bioline floats at half-billion shekel market cap". TheMarker. Retrieved 28 November 2011. Bioline Therapeutics today pulled off its initial public offering in Tel Aviv, raising NIS 211 million at a company valuation of NIS 494 million, making this the biggest flotation by a biotechnology company in local history.
^Rheinheimer, Laura (8 February 2007). "BioLineRx raises $50m. in TASE's largest biomedical IPO". Jerusalem Post. Retrieved 28 November 2011. BioLineRx Ltd. on Wednesday priced the largest ever initial public offering of a biomedical company on the Tel Aviv Stock Exchange, raising a total of NIS 211 million, or $50m.
