Pitango raises $300 million across two new early-stage funds
The firm says demand for Israeli innovation remains strong despite a tougher fundraising climate.
Pitango Venture Capital has raised $300 million for two new funds focused on Seed investments. The funds include Pitango First, which invests in disruptive technology startups, and Pitango HealthTech, which specializes in breakthrough life sciences ventures. Each fund raised roughly half of the total capital.
In a conversation with Calcalist, Eyal Niv, Managing Partner at Pitango First, said:
“This is our ninth fund, and our long-standing partners remain part of it. We have investors who appreciate what’s happening here in Israel. It took a little longer to raise the fund, but we succeeded. Competition in Israel has intensified, there are more funds now, but they market Israel well, and their investors know the country. There’s room for both local and global players, and our successes often begin through collaboration. The competition is strong, but so is the interest. Israel remains exceptional in its resource of entrepreneurs; there’s truly no equal in the world.”
Niv added that while cybersecurity will continue to be part of Pitango’s investment strategy, it will not be the sole focus.
“We’ve already invested in two undisclosed cybersecurity companies and will collaborate with local cyber funds to strengthen this field. We’ve had past successes here, such as Varonis and others,” he said. “There’s a big difference between first-time and second-time entrepreneurs. In large funds, founders can sometimes feel like small fish in a big pond. We aim to invest where others don’t look, in unconventional areas shaped by the entry of AI into new industries. We’re not chasing trends; we’re looking for transformational change and exceptional teams, often before a product even exists.”
Pitango First, the firm’s Seed-stage arm, is led by Eyal Niv, Dr. Ayal Itzkovitz , Gad Huldai, and Yair Cassuto, who are now leading their third consecutive fund together. The new fund has already begun investing in companies in artificial intelligence, infrastructure, quantum, cybersecurity, and cloud computing, including AAI, Gamma Time, and Apprentice.AI.
Pitango HealthTech, which focuses on digital medicine, medical devices, biopharma, and AI-driven healthcare, is led by Ittai Harel, Hila Karah, and Dr. Jonathan Glazer. The fund has already achieved notable successes, including the exit of Vertos and the IPO of TScan, and has invested in companies such as QuantHealth, Somite, Leafix, Guardoc, and others. Pitango HealthTech has also developed a new investment acceleration model to support startups in its core sectors.
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“Since launching the fund, we’ve already invested in eight new companies in medtech, biopharma, and digital medicine, and the pace is increasing,” said Harel. “The medical sector is adopting AI faster than most industries precisely because of its complexity. This presents a tremendous opportunity. With our experience in achieving product-market fit and building global companies, we believe we can create healthcare giants from Israel.”
Founded 30 years ago by Rami Kalish and Chemi Peres, Pitango Venture Capital now manages over $3 billion in assets across three funds: Pitango First (early-stage investments), Pitango Growth (growth-stage), and Pitango HealthTech (life sciences). Its investors include leading Israeli and international financial institutions and strategic partners from some of the world’s largest corporations.
