|AUM||USD 1.800 million|
Number of employees
Pitango Venture Capital, established in 1993, is Israel's largest venture capital fund with over $1.8 billion under management. Pitango is focused on seed, expansion and late stage companies in core technologies, consumer, and Life Sciences. The firm's investors include Time Warner, Citigroup, Eastman Kodak, Deutsche Bank and HarbourVest Partners.
The fund was founded as Polaris Venture Capital in 1993 by Rami Kalish, as part of a government initiative named the Yozma program ("Initiative" in Hebrew); which offered attractive tax incentives to any foreign venture-capital investments in Israel and offered to double any investment with funds from the government.
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. Some were partially funded by another Israeli VC firm, Eucalyptus Ventures. When the investments proved successful, Polaris II and Eucalyptus merged into Fund III in early 2000.
In 2000, Rami Beracha, who joined Pitango in 1996, became a managing general partner. He resigned in 2018.
In 2001, Polaris Venture Capital changed its name to Pitango Venture Capital, to avoid confusion with Boston based Polaris Venture Partners. 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.
Pitango Venture Capital Fund IV followed in 2004, and in 2007, Pitango V.
In 2010, with the support of the Israeli government, Pitango established the first fund in the country focused on investment in the Arab-Israeli sector, called Al-Bawader (Arabic for “early signs”).
|Company||Industry||Description||Initial Investment Date||Exit|
|Anobit||Semiconductors||flash memory controllers||2006||Acquired by Apple Inc. in 2012 for a reported $390 million.|
|InstallFree||Software||Application virtualization technology||2006||In December 2012, WatchDox Acquired InstallFree.|
|ClearForest||Software||Brokerage compliance, anti-money laundering, and fraud prevention||2001||Acquired by Reuters in 2007 for $25 Million|
|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|
|Check, Inc.||Mobile||Mobile Applications||2007||Acquired by Intuit in 2014 for $360 million.|
|AeroScout Industrial||Communications||RFID||2000||Acquired by Stanley Black & Decker in 2012.|
|BioLineRx||Biotechnology||2003||IPO on the Tel Aviv Stock Exchange.|
|dbMotion||Software||Health technology interoperability||2005||Acquired by Allscripts in 2013 for $235 million.|
|Mainsoft||Software||Network virtualization for software testing||1993|
|VocalTec||Telecommunication||VocalTec released the first Voice over Internet Protocol application||1993||IPO on NASDAQ 1996|
|Red Bend Software||Software||Mobile software management||2000||Acquired by Harman International Industries in 2015.|
|Radware||Communications||Advertising Data||1997||IPO on NASDAQ 1999|
|Traiana||Software||Post-trade processing, client servicing, and trading partner integration for financial institutions||2004||Acquired by ICAP in 2007 for $247 million.|
|EarlySense||Medical Technology||Medical device company||2004||IP acquired by Hillrom in 2021 for $30 million plus revenue share.|
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- Gilder, George, "Silicon Israel — How market capitalism saved the Jewish state", City Journal -Summer 2009, 19 (3), retrieved 2009-11-11
- Israel's Polaris changes name to avoid confusion with Polaris Ventures; Boston Business Journal, Jul 11, 2001
- The Startups of Nazareth, Drake Bennett, Bloomberg Businessweek, November 26, 2014
- Ha, Anthony. "AppsFlyer raises $210M for ad attribution and more". TechCrunch. Retrieved 28 May 2021.
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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.
- Allscripts Healthcare Solutions is acquiring Israeli healthcare software provider dbMotion for $235 million, Reuters, Mar 5, 2013
- "Archived copy". Archived from the original on 2016-03-04. Retrieved 2016-09-13.CS1 maint: archived copy as title (link)
- "ICAP acquires Israeli post-trade software firm Traiana". ITPro. 11 Oct 2007.
- Pennic, Fred (2021-02-01). "EarlySense Sells Contact-Free Monitoring IP to Hilrom for $30M". hitconsultant.net. Retrieved 2021-05-28.