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]
Notable successful investments made by the firm include Via Transportation, DriveNets, AppsFlyer, Forescout, and Varonis.
Pitango invests in a wide range of technology and innovation-driven sectors. These include deep technology fields such as generative artificial intelligence (AI),[6] quantum computing,[7] and cybersecurity,[8] as well as infrastructure-focused areas like cloud computing, DevOps,[9] and enterprise infrastructure. Pitango is also active in financial technology (FinTech) and TransitTech, reflecting its interest in modernizing financial services and urban mobility solutions. In the healthcare sector,[10] Pitango supports ventures in digital health, medical devices, and biotechnology. Additionally, the firm invests in companies operating in sales and marketing technologies, as well as retail and eCommerce platforms.
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.
| Company | Industry | Description | Initial Investment Date | Exit/IPO |
|---|---|---|---|---|
| Taboola | Advertising Tech | Content recommendation platform | 2011 | IPO on NASDAQ in 2021.[13] |
| Riskified | E-Commerce / SaaS | Fraud prevention platform using ML-powered chargeback guarantee | 2017 | IPO on NYSE in 2021.[14] |
| Vertos Medical | Medical devices | Minimally invasive lumbar spinal stenosis treatment | 2013 | Acquired by Stryker Corporation in 2024.[15] |
| Skycure Ltd | Mobile cybersecurity (MTD) | Mobile Threat Defense platform based on AI/ML | 2017 | Acquired by Symantec in July 2017.[16] |
| Forescout | Cybersecurity | Agentless IoT and enterprise device visibility & control platform | 2001 | IPO on NASDAQ in 2017.[17] |
| Varonis Systems | Data Security / SaaS | Data security platform analyzing unstructured enterprise data (UBA) | 2014 | IPO on NASDAQ in 2014.[18] |
| Anobit | Semiconductors | flash memory controllers | 2006 | Acquired by Apple Inc. in 2012 for a reported $390 million.[19] |
| Traiana | Software | Post-trade processing, client servicing, and trading partner integration for financial institutions | 2004 | Acquired by ICAP in 2007 for $247 million.[20] |
| InstallFree | Software | Application virtualization technology | 2006 | In December 2012, WatchDox Acquired InstallFree.[21] |
| ClearForest | Software | Brokerage compliance, anti-money laundering, and fraud prevention | 2001 | Acquired by Reuters in 2007 for $25 Million.[22] |
| Radcom Ltd | Communications | Networking Infrastructure Equipment | 1993 | IPO on NASDAQ in 1997. |
| Boxee | Consumer electronics | 2007 | Acquired by Samsung Electronics in 2013 for $30 million.[23] | |
| Check, Inc. | Mobile | Mobile Applications | 2007 | Acquired by Intuit in 2014 for $360 million.[24] |
| AeroScout Industrial | Communications | RFID | 2000 | Acquired by Stanley Black & Decker in 2012.[25] |
| BioLineRx | Biotechnology | 2003 | IPO on the Tel Aviv Stock Exchange.[26][27] | |
| dbMotion | Software | Health technology interoperability | 2005 | Acquired by Allscripts in 2013 for $235 million.[28] |
| Mainsoft | Software | Network virtualization for software testing | 1993 | |
| VocalTec | Telecommunication | VocalTec released the first Voice over Internet Protocol application | 1993 | IPO on NASDAQ in 1996. |
| Red Bend Software | Software | Mobile software management | 2000 | Acquired by Harman International Industries in 2015.[29] |
| Radware | Communications | Advertising Data | 1997 | IPO on NASDAQ in 1999. |
| EarlySense | Medical Technology | Medical device company | 2004 | IP acquired by Hillrom in 2021 for $30 million plus revenue share.[30] |
| Graphcore | Semiconductor / AI chips | AI processors (IPU systems) | 2016 | Acquired by SoftBank in 2024.[31] |
| Zerto | Software / Disaster recovery | Cloud disaster recovery & data protection platform | 2018 | Acquired by Hewlett Packard Enterprise in 2021.[32] |
| Celeno | Semiconductors / Communications | Wi-Fi chipsets and solutions | 2007 | Acquired by Renesas in 2021.[33] |
| TScan | Biotechnology | T cell therapies for cancer | 2019 | IPO on NASDAQ in 2021.[34] |
| Optimal Plus | Software / Analytics | Big Data analytics for semiconductor & electronics mfg. | 2007 | Acquired by National Instruments in 2020.[35] |
| LiveU | Video technology | Live video transmission over cellular networks | 2019 | Acquired by Carlyle Group in 2021.[36] |
| Voltaire | Networking | InfiniBand and Ethernet switch solutions | 2017 | IPO on NASDAQ in 2017. |
| Leaba | Semiconductors | Networking semiconductors | 2016 | Acquired by Cisco in 2016.[37] |
| SuperDimension | Medical devices | Minimally invasive pulmonary devices | 2012 | Acquired by Covidien in 2012.[38] |
| SuperDerivatives | FinTech / Software | Derivatives pricing & risk management software | 2014 | Acquired by Intercontinental Exchange in 2014.[39] |
| Borderfree | E-Commerce | Cross-border e-commerce solutions | 2014 | IPO on NASDAQ in 2014. |
| Provigent Inc | Semiconductors | System-on-Chip for broadband wireless backhaul | 2011 | Acquired by Broadcom in 2011.[40] |
| Mobile Access Inc. | Telecommunications | In-building wireless solutions | 2011 | Acquired by Corning in 2011.[41] |
| Convergin | Telecommunications | Service broker for telecom networks | 2010 | Acquired by Oracle in 2010.[42] |
| Jinko Solar | Renewable energy | Solar panel manufacturer | 2014 | IPO on NYSE in 2014. |
| Dune Networks | Semiconductors | Network processors | 2009 | Acquired by Broadcom in 2009.[43] |
| Optonol | Medical devices | Glaucoma treatment devices | 2009 | Acquired by Alcon in 2009.[44] |
| Ventor | Medical devices | Transcatheter heart valves | 2009 | Acquired by Medtronic in 2009.[45] |
| Disc-O-Tech | Medical devices | Minimally invasive orthopedic devices | 2006 | Acquired by Kyphon in 2006.[46] |
| Colbar | Biotechnology | Tissue engineering and aesthetics | 2006 | Acquired by Johnson & Johnson in 2006.[47] |
| Phonetic | Software / Speech tech | Voice recognition technologies | 2004 | Acquired by Nuance in 2004.[48] |
| Radlan | Networking software | Ethernet switching software | 2003 | Acquired by Marvell in 2003.[49] |
| Audiocodes | Telecommunications | VoIP and networking solutions | 1999 | IPO on NASDAQ in 1999.[50] |
| Card Guard | Medical devices | Remote patient monitoring | 1999 | IPO on Zurich SWX in 1999. |
| BackWeb | Software | Push technology software | 1999 | IPO on NASDAQ in 1999.[51] |
| ITXC | Telecommunications | Global VoIP network operator | 1999 | IPO on NASDAQ in 1999. |
| Optibase | Video technology | Digital video streaming solutions | 1999 | IPO on NASDAQ in 1999. |
| Retalix | Software / Retail tech | Retail and supply chain management software | 1997 | IPO on NASDAQ in 1997. |
| Medinol | Medical devices | Coronary stents | 1995 | Acquired by Boston Scientific in 1995. |
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.
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.
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