Pitango Venture Capital was co-founded in 1996 by Rami Kalish and Chemi Peres. Rami Kalish and Chemi Peres, began investing in Israeli entrepreneurs in 1993. At that time, Rami Kalish was managing Polaris, one of the first Yozma funds in Israel (Yozam was the Israeli Government initiative to encourage VC industry in Israel), and Chemi Peres was the managing director of the Mofet Israel Technology Fund, one of the first Israeli funds who raised capital on the Tel Aviv Stock Exchange. Both of them decided to team up in 1996 and raise their second fund together. In 1996, they launched their first fund as co-founders and Managing General Partners - Pitango Fund II – with $125 million under management - the first Israel-originated fund to raise more than $100 million

Pitango's Fund II invested in 35 high tech companies-several of which were jointly funded by Eucalyptus Ventures. As a result of these successful co-investments, the two firms merged and began raising capital for a third independent fund. In early 2000, Fund III closed at $500 million, bringing the funds managed by Pitango to over $700 million.

In 2004, the Pitango team successfully raised Pitango Venture Capital Fund IV, with committed capital in the amount of over $300 million.

In 2007, Pitango V was raised, closing $330 million in committed capital.

In 2010, Pitango raised the first fund in Israel to invest in the minority sectors in Israel, with the support of the Israeli government. The fund, Al-Bawader (“Early Signs”) has $50 million under management.

With total funds managed by Pitango reaching over $1.3 billion, Pitango has become Israel’s largest venture capital firm.