Herzliya, Israel - 2 November, 2015 –Pitango Venture Capital announced today the first closing of Pitango Growth Fund, dedicated to investments in Growth-Stage companies. With a planned scope of $250 million, Pitango Growth will focus on companies raising funds to increase their revenues and cement their positioning in global markets. Isaac Hillel and Aaron Mankovski will lead the Growth investments at Pitango. Pitango Growth will operate in parallel to Pitango 6 which continues its ongoing investments in early-stage companies.
Pitango will maintain its strategy of diversified investment portfolio in technology, IT Infrastructure, Digital Healthcare and Life Sciences.
Joining Pitango Growth is Pascal Cagni, Founder of C4 Ventures and former GM & VP Apple Europe (2000-2012). Cagni was personally recruited by Steve Jobs to lead Apple EMEIA (Europe, Middle East, India, Africa) and grew revenues from $1 billion in 2002 to $40 billion in 2012, making it Apple’s fastest growing region.
Upon his departure from Apple, Cagni founded C4 Ventures, a London-based early-stage investment vehicle, through which he invests in startups and contributes to their product roadmap and international rollout. He also serves as a non-executive director at Vivendi SA (VIV.PA), Kingfisher Plc (KGF.L), and recently joined the Board of Style.com, a Condé Nast owned e-commerce website.
Based in Europe, Cagni will contribute his vast experience to Pitango's portfolio companies in their growth into the international markets.
Pascal Cagni: “When targeting growth companies looking for scale, partnering with one of the leading Israeli Venture Capital Funds became an obvious choice. I have worked closely with Pitango Partners over the years and believe they are uniquely placed to create a successful Growth Fund. This is a natural step to allow Israeli innovation to reach the U.S. and other international markets quicker. .
Aaron Mankovski, General Managing Partner at Pitango: "Israeli entrepreneurs are now more focused on building large companies for the long term. We believe the number of these companies will continue to grow. We see vast and diversified deal flow of companies ready to accelerate. We look forward to invest and work closely with those entrepreneurs and companies to build worldwide category leaders.
We are excited about Pascal Cagni joining us. His vast experience, knowledge of international markets and presence is Europe, can add tremendous value to companies in their growth stage.”