Despite the recent economic downturn, there is no shortage of money available to investors for spotting the next big technology idea.
Boxee, Fring and mySupermarket investor Pitango Ventures of Israel has received $150 million to comprise its sixth investment fund.
As with its predecessors, the Pitango VI fund will go toward early-stage and growth-stage companies in digital media, mobile apps, data storage and enterprise computing, the company tells Globes.
Based in Herzliya, Israel, and San Mateo, California, the firm straddles Israel and U.S. innovation, typified by its investment in Boxee, which itself has operated in both countries.
This $150 million is the first tranche of what Pitango hopes will make up a $250 million fund.
Pitango managing general partner Rami Kalish (via Globes): “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.”
Not all of Pitango’s investments are exclusive Israeli – some, like mySupermarket Gamingo, are UK-based.