The fund was founded as Polaris Venture Capital in 1993 by Rami Kalish. In 1996, Kalish was joined by
Chemi Peres, son of former Israeli president
Shimon Peres, to create Polaris Fund II, which raised more than $100 million. Polaris II invested in 35 high-tech companies. In 2001, Polaris Venture Capital changed its name to Pitango Venture Capital to avoid confusion with
Boston-based
Polaris Venture Partners. Although the
Boston firm was founded in 1996, which was after Pitango was founded, the Israeli firm decided to change its name. Pitango takes its name from the semi-wild
Surinam Cherry that grows in Israel. Since then, the company has grown to include 14 partners, a value-add team, an operations and support team, and venture partners. == Notable companies==