PICO Venture Partners
PICO Venture Partners is an Israel-focused early-stage venture capital firm founded in 2012 by Elie Wurtman, investing in 30+ technology startups across cybersecurity, AI, healthcare, automotive, and fintech, with offices in Jerusalem, Tel Aviv, and New York.
- Company typePrivate
- Founded2012
- HeadquartersJerusalem, Israel
- Headcount11–50
- GTM typeB2B
- OfferingServices
What PICO Venture Partners does
PICO Venture Partners is an Israel-focused early-stage venture capital firm founded in 2012 by Elie Wurtman and headquartered in Jerusalem, with additional offices in Tel Aviv and New York. The firm invests in 30+ technology startups across cybersecurity (Sepio, Zero Networks, Salvador, ReSec, Orion Security), AI (xpander, Apptor, Vault AI, CytoReason), healthcare (Patient21, K Health, The Vets), automotive (Fullpath, Ravin AI, AutoLeadStar, Vroom), fintech (ChargeAfter, Affogata), food tech (Tastewise, Wanda Fish), and HR technology (Gloat). Notable exits include Vroom's NASDAQ IPO at approximately $5 billion in 2020, Spotinst's $450 million sale to NetApp, and Fullpath's acquisition by Cox Automotive in April 2026, with cumulative exit value exceeding $6 billion.
The firm operates a traditional venture capital economic model, generating revenue through management fees (typically 2% of committed capital) on active funds and carried interest (typically 20%) on realized profits. Fund II closed at $80 million in September 2019, anchoring current AUM. Beyond core fund activity, the firm operates adjacent subsidiaries including PICO Spaces (co-working infrastructure), PICO Kids (social enterprise), and Bat Shlomo Vineyards, which collectively function as a founder-services and community platform layered on top of the investment vehicle. The ~15-person team includes Managing Partner Elie Wurtman, General Partner Tal Yatsiv, Partner Keren Kenan (Finance & Operations), and Venture Partner Tamir Carmi (IronSource co-founder), giving the firm operator credibility alongside its LP and portfolio network.
PICO Venture Partners firmographics
Firmographics- Name
- PICO Venture Partners
- Legal name
- PICO Venture Partners
- Website
- https://pico.partners
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- PICO Venture Partners is an Israel-focused early-stage venture capital firm founded in 2012 by Elie Wurtman, investing in 30+ technology startups across cybersecurity, AI, healthcare, automotive, and fintech, with offices in Jerusalem, Tel Aviv, and New York.
- Ownership category
- akta.pro rank
PICO Venture Partners industry classification
Industry- Product category
- Venture Capital
- NAICS
- Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)
Keywords
Where PICO Venture Partners is headquartered
LocationHeadquarters
- HQ city
- Jerusalem
- HQ country
- Israel
- HQ region
- Middle East
Offices3 records
Markets served
PICO Venture Partners business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Marketing or Sales, Others
Revenue model
- Management Fees: VC firms typically charge annual management fees on committed capital under management
- Carried Interest (Carry): Performance fees from successful portfolio company exits, typically 20% of profits above the hurdle rate
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Fund II - $80 million raised in 2019 |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels5 records
PICO Venture Partners product offering
Product offeringCore offering
PICO Venture Partners is a Jerusalem-headquartered venture capital firm that invests in early-stage Israeli technology startups through multi-stage funds. The firm provides capital combined with applied mentorship, ecosystem support via PICO Spaces co-working facilities, and US market access through its New York office. Fund II closed at $80 million in September 2019, with portfolio investments spanning cybersecurity, AI, healthcare, automotive retail, fintech, and food technology.
Product overview
PICO Venture Partners is a venture capital firm that invests in Israeli technology companies across multiple sectors including cybersecurity, AI/ML, healthcare, automotive, fintech, food technology, and enterprise software. The firm manages a portfolio of approximately 26 portfolio companies, each offering distinct products and services as independent companies. These include AI-powered platforms such as xpander (enterprise AI agents), Apptor (autonomous marketing engine), K Health (AI primary care), CytoReason (computational biology), and Vault AI (media prediction); cybersecurity solutions including Sepio Prime (hardware security), Salvador Technologies (cyber recovery), Zero Networks (network access), and Orion Security (data protection); automotive technology companies such as Fullpath (dealer AI toolbox) and Ravin AI (vehicle inspection); healthcare platforms like Patient21 (digital clinics) and The Vets (pet care); fintech solutions including ChargeAfter (POS financing); and various other specialized B2B platforms. The portfolio includes several notable exits including Vroom (NASDAQ IPO), Spotinst (acquired by NetApp for $450M), and ironSource, with Fullpath being acquired by Cox Automotive in 2026.
Differentiator
Problem solved
Functional benefit
Products and services
- PICO Venture Partners Fund II
- PICO Spaces Co-working
- PICO Kids
Quantifiable outcome
- Over $6 billion in total exits including Vroom (NASDAQ IPO), Spotinst ($450M NetApp acquisition), and Fullpath (Cox Automotive acquisition)
Companies that use PICO Venture Partners
Customer profileNamed customers7 records
Segments4 records
Ideal customer profiles1 record
PICO Venture Partners technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability39 records
PICO Venture Partners partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered flagship.
- Wells FargoflagshipWells Fargo partnered with ChargeAfter to expand the embedded lender network for point-of-sale financing, expanding ChargeAfter's lender network.
- SanofiflagshipSanofi extended cooperation with CytoReason for bowel disease drug discovery using CytoReason's AI-powered drug development platform.
- HertzflagshipHertz partnered with Ravin AI for AI-powered vehicle inspection pilot. Ravin uses AI to automatically inspect vehicle condition using off-the-shelf cameras.
- PfizerflagshipPfizer extended cooperation with CytoReason for AI drug discovery and development platform. CytoReason raised $20M from Pfizer in September 2022 for bowel disease drug discovery.
- Samsung DisplaysflagshipSamsung Displays partnered with Niio Art in strategic partnership, followed by Niio announcing $15M Series A funding.
Scale indicators4 records
Recent moves8 records
Expansion highlights5 records
PICO Venture Partners competitors and assessment
Company assessmentDirect peers
- Jerusalem Venture Partners (JVP): One of Israel's leading early-stage venture capital firms, also headquartered in Jerusalem. JVP operates multiple funds and community initiatives similar to PICO's structure, investing in Israeli tech across cybersecurity, enterprise software, and digital health.
- OurCrowd: Israel's largest venture investing platform, operating a hybrid VC-crowdfunding model focused on Israeli and global tech startups. OurCrowd and PICO both target Israeli founders with similar sector exposures (AI, cybersecurity, fintech).
- Magma Venture Partners: Early-stage Israeli venture capital firm investing in software, internet, and mobile companies. Magma and PICO share the same Israeli founder pool and typically invest at similar stages with comparable check sizes.
- StageOne Ventures: Israeli early-stage VC firm focused on enterprise software and deep tech. StageOne and PICO share the same core market of Israeli tech founders at seed and Series A, often co-investing in rounds.
- iAngels: Israeli venture capital platform that has backed many of the same Israeli founders as PICO. iAngels focuses on early-stage Israeli tech with an active investor network and LP structure similar to a traditional VC.
- Vertex Ventures Israel: Israel-focused early-stage venture capital firm operating as part of the Vertex global network. Competes directly with PICO for Israeli early-stage deals across enterprise software, fintech, and digital health.
- Aleph VC: Israeli early-stage venture capital firm investing across enterprise software, fintech, and digital health. Aleph and PICO both back Israeli founders at seed/Series A with similar value-add approaches.
Broad incumbents
- Pioneering Ventures (Pitango): Israel's largest and most established venture capital firm with multiple funds spanning early to growth stages. As a broad incumbent, Pitango competes for many of the same Israeli founders while offering significantly larger fund sizes than PICO.
- Battery Ventures: Global technology-focused venture capital firm investing across enterprise software, cybersecurity, and consumer tech. Battery has a strong track record in Israeli investments and frequently invests alongside or after early-stage Israeli funds like PICO.
- Insight Partners: Global software-focused investment firm with major presence in Israeli tech (HQ in NYC, large Tel Aviv office). Insight Partners often leads growth-stage rounds for Israeli companies that PICO backed at earlier stages.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
PICO Venture Partners social profiles
Digital presencePICO Venture Partners financial estimates
Financial estimateRevenue estimate
Valuation estimate
PICO Venture Partners leadership team
Management profileNumber of profiles
Profiles6 records
PICO Venture Partners subsidiaries and ownership
Company hierarchySubsidiaries3 records
PICO Venture Partners funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PICO Venture Partners M&A and investment
M&A and investmentM&A
Investments71 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PICO Venture Partners
What does PICO Venture Partners do?
PICO Venture Partners is a Jerusalem-headquartered venture capital firm that invests in early-stage Israeli technology startups through multi-stage funds. The firm provides capital combined with applied mentorship, ecosystem support via PICO Spaces co-working facilities, and US market access through its New York office. Fund II closed at $80 million in September 2019, with portfolio investments spanning cybersecurity, AI, healthcare, automotive retail, fintech, and food technology.
Is PICO Venture Partners a public or private company?
PICO Venture Partners is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was PICO Venture Partners founded?
PICO Venture Partners was founded in 2012. It employs 11 to 50 people.
Where is PICO Venture Partners based?
PICO Venture Partners is headquartered in Jerusalem, Israel, in the Middle East region.
How does PICO Venture Partners make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are carried Interest (Carry).
Who are PICO Venture Partners's main competitors?
Direct peers on record are Jerusalem Venture Partners (JVP), OurCrowd, Magma Venture Partners, StageOne Ventures, iAngels, Vertex Ventures Israel and Aleph VC. Broad incumbents are Pioneering Ventures (Pitango), Battery Ventures and Insight Partners.
Does PICO Venture Partners have an API?
No public API is recorded for PICO Venture Partners.
What industry is PICO Venture Partners in?
PICO Venture Partners's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAD, Sector-Focused Venture Capital (Vertical Specialists). Its NAICS code is 523940 and its SIC code is 6282.