Pitango announced the first closing of its VI Fund, out of a planned overall venture capital fund of $250 million.
Pitango Venture Capital has announced the $150 million first closing of its Pitango VI, sixth fund. The key to today’s announcement was the commitment received by an “anchor” investor, which enabled the establishment of the new venture capital fund, and will allow Pitango to continue raising money for an overall fund of $250 million.
Pitango’s investment focus is diversified and balanced across investment stage and technology sectors: the company invests in early, expansion and late stage companies in the fields of Communications; Networking & Storage; Wireless, Cellular and Mobile technologies; Enterprise Software, Internet and Media; Healthcare & Life Sciences, and Clean Technologies.
With over $1.4 billion under management and a growing portfolio of innovative start-ups, Pitango is one of Israel’s leading Venture Capital funds with some very well known acquisitions such as Anobit (Apple), ClearForest (Reuters); WorkLight (IBM); COMSYS(Intel); and 3DV Systems (Microsoft), among several others.
Managing general partner Rami Kalish at Pitango said, “The first closing is an important milestone for us and for Israeli industry, as well marking investor confidence in us. Israel is a fertile source for innovation, and we believe in the Israeli market and in its current excellent opportunities. To our delight, we are now seeing more new ventures than before, and we intend for the new fund to invest in outstanding venture and entrepreneurs, beginning with the pre-seed and concept stage, through mature and established companies. The fund’s size gives us the flexibility necessary for both pre-seed investments and to lead later financing rounds in late-stage companies.”