Israeli VC Pitango launches its 7th early-stage fund of $175M

Pitango Venture Capital, one of the most active VCs in the Israeli startup scene, has announced its seventh fund, Pitango Venture Capital 7. The fund will have $175 million under management, and invest from seed upwards. The new fund focuses on IT and life science investments, specializing in enterprise infrastructure, IoT, artificial intelligence and digital health. The new fund joins Pitango's first Growth Fund, which focuses on late-stage companies and which came out last year. This latest move brings Pitango's recent capital raising to a total of $400 million in both funds, taking its total assets under management to $2 billion. Pitango Venture Capital 7's first investment is in Graphcore, a developer and manufacturer of an intelligent processing unit for machine learning, as part of a $32 million investment round, with Bosch VC, Foundation Capital, Amadeus Capital Partners, Samsung's investment arm and other leading technology companies.