Israeli IT fund Pitango has attracted additional $150M

Israeli IT fund Pitango has attracted additional $150M One of Israel's largest investment funds Pitango announced the completion of the sixth round of financing for the further investment in companies of IT and telecom sectors. The fund raised about $150M in the sixth round of financing, bringing the total Pitango’s available amount to $250M.

As reported by the fund, the money raised for venture capital fund Pitango VI Fund will be used for seed investment in companies that are at early stages of development. The focus of the current investment-campaign will be given to start-ups operating in internet media technologies, mobile applications, data storage and cloud computing.

Pitango was previously specialized in infrastructure companies working in the sphere of semiconductors, renewable energy and medicine.

The general partner of Pitango Rami Kalish says that the funds of Pitango VI Fund will be used for investments in Israeli companies and foreign start-ups that are ready to offer interesting innovations with the potential for commercialization.

Pitango Fund was founded in 1993, the total amount of invested funds exceeds $1.5B. The company has offices in Israel and California. Ptango has invested in 106 companies.