Israel-based VC firm Pitango has launched a US$175m fund dedicated to entrepreneurs leveraging data science, AI, medical devices and novel biology for improved health outcomes.
The fund, Pitango HealthTech II, with invest in healthcare innovation, including the decentralisation of healthcare, personalised medicine, medical devices and diagnostics, as well as AI, software and data infrastructure.
“Despite the global and local macroeconomic challenges, the healthcare sector continues to show resilience and growth. Recent events such as the pandemic, decentralization of healthcare, and value-based care, have resulted in unprecedented openness towards the adoption of new technologies,” said Ittai Harel, managing partner at Pitango HealthTech.
“We’re launching this new fund to continue to back entrepreneurs and invest in companies that are revolutionising the healthcare industry.
“Pitango believes that the most promising healthcare innovations occur at the convergence of life science and medical technologies with data science and AI, coupled with innovative services. This revolution is at its early onset, and is yet to accelerate.”
Pitango HealthTech invests in companies from seed to commercial stage. The fund’s investment strategy is focused on all segments of healthcare and life sciences.
Previous investments include value-driving companies such as Protai, Laguna Health, Vertos, Visby, Clew and Magenta.
The first investments of the newest fund are QuantHealth.ai, an AI company focused on clinical trial simulations to accelerate and de-risk drug development, and Nevia Bio, a FemTech company developing an AI-based biomarker platform for early detection of women’s health diseases.
“The current environment offers great investment opportunities for health tech investors,” said Hila Karah, managing partner at Pitango HealthTech.
“Our team has decades of experience working with global healthcare providers, payers, medical device and pharma companies. We garner this expertise to support our portfolio companies from inception to scale. We’re seeing an incredible generation of companies being formed right now and are looking forward to working with the best of them.”
Pitango HealthTech is part of the Pitango investment platform, operating alongside Pitango First and Pitango Growth Funds. Since its inception in 1993, Pitango has invested in over 250 companies and seen more than 85 become publicly traded companies, or acquired by strategic players.