# Ayal Itzkovitz
Ayal Itzkovitz is an Israeli venture capital investor and computer scientist who serves as a Managing Partner at Pitango First, the early-stage arm of Pitango Venture Capital, and who previously co-founded the telecom software company Convergin, acquired by Oracle in 2010. He joined Pitango as a Venture Partner in 2015 and has held a managing partner role since November 2018, investing across artificial intelligence, quantum computing, cybersecurity, cloud, and deeptech from Israel.
| Fact | Detail |
|---|---|
| Current role | Managing Partner, Pitango First, since November 2018 [1](https://pitango.ventures/ayal-itzkovitz/) |
| Earlier at Pitango | Venture Partner, April 2015 to September 2018 [2](https://www.linkedin.com/in/ayali) |
| Operating background | Co-founder of Convergin (acquired by Oracle, 2010); Vice President (CGBU) at Oracle, June 2010 to July 2012 [1](https://pitango.ventures/ayal-itzkovitz/) |
| Education | PhD in Computer Science, distributed scalable systems (1998), and BSc in Computer Science (1991–1994), Technion [1](https://pitango.ventures/ayal-itzkovitz/) |
| Public board | Israel Aerospace Industries, December 2014 to December 2017 [1](https://pitango.ventures/ayal-itzkovitz/) |
| Exits he has announced on LinkedIn | Convergin to Oracle (2010); ParallelM to DataRobot; Jounce to Red Hat; per his own posts, OpenAI's acquisition of Pitango portfolio company neptune.ai and Via Transportation's NYSE IPO at $3.65B [1](https://pitango.ventures/ayal-itzkovitz/) • [2](https://www.linkedin.com/in/ayali) |
| Recent fund | Pitango First's new early-stage fund, part of a $300M raise closed November 2025, targeting AI, quantum, deeptech, and cybersecurity [3](https://olam.business/pitango-venture-capital) • [2](https://www.linkedin.com/in/ayali) |
## Career and education
Itzkovitz studied computer science at the Technion Israel Institute of Technology in Haifa, completing his bachelor's degree between 1991 and 1994 and a PhD in distributed scalable systems in 1998. [1](https://pitango.ventures/ayal-itzkovitz/)
He co-founded Convergin, a company that Pitango had backed as a portfolio investment and that [Oracle Corporation](https://www.edgepedia.org/oracle-corporation) acquired in 2010. [4](https://www.calcalistech.com/ctech/articles/0,7340,L-3749848,00.html) After the acquisition he stayed at Oracle as Vice President in its Communications Global Business Unit (CGBU) from June 2010 to July 2012. [1](https://pitango.ventures/ayal-itzkovitz/)
Between Oracle and Pitango, Itzkovitz held a public-sector position: he sat on the Board of Directors of Israel Aerospace Industries (IAI), the state-owned aerospace manufacturer, from December 2014 to December 2017. [1](https://pitango.ventures/ayal-itzkovitz/) He joined Pitango as a Venture Partner in April 2015 and was promoted in November 2018. [1](https://pitango.ventures/ayal-itzkovitz/) • [2](https://www.linkedin.com/in/ayali)
## Pitango and the First strategy
Pitango has over $2 billion in assets under management and portfolio companies that have included [Via Transportation](https://www.edgepedia.org/via-transportation), Taboola.com, and ForeScout Technologies. [4](https://www.calcalistech.com/ctech/articles/0,7340,L-3749848,00.html) The firm organizes its investing into distinct vehicles: Pitango First for early-stage technology, Pitango Growth for later-stage rounds, and Pitango HealthTech. [3](https://olam.business/pitango-venture-capital)
Pitango First is the firm's seed and early-stage technology fund, and Itzkovitz's mandate sits there rather than with the growth-stage partners. Reporting on the firm describes the First team as led by Managing Partner Eyal Niv, alongside Itzkovitz, Gad Huldai, and [Yair Cassuto](https://www.edgepedia.org/yair-cassuto). [3](https://olam.business/pitango-venture-capital) His own profile and roster entry describe him as Managing Partner at Pitango First, a role he has held since November 2018. [2](https://www.linkedin.com/in/ayali) • [1](https://pitango.ventures/ayal-itzkovitz/)
His investments, as listed on his firm profile, are early-stage technology companies in AI, quantum computing, cybersecurity, cloud, and developer tooling, consistent with the First mandate. [1](https://pitango.ventures/ayal-itzkovitz/) • [3](https://olam.business/pitango-venture-capital)
## Notable investments and exits
Itzkovitz's current and recent investments and board roles span the early-stage technology spectrum. His firm profile lists board membership at Quantum Source (since October 2021), Frontegg (since February 2020), and Adaptive6 (since January 2024); board observer roles at [Blykalla](https://www.edgepedia.org/blykalla) and Zapata Computing; investments in [PsiQuantum](https://www.edgepedia.org/psiquantum), ARMO, Nexite, i3 Equity Partners, and EquityBee (as a seed investor); and a seat on the advisory board of the lunar mission nonprofit SpaceIL since March 2013. [1](https://pitango.ventures/ayal-itzkovitz/) He served as a board observer at SendBlocks from November 2022 to May 2025. [1](https://pitango.ventures/ayal-itzkovitz/)
Several companies connected to his board service have been acquired. ParallelM, where he was a board member from November 2018 to June 2019, was acquired by [DataRobot](https://www.edgepedia.org/datarobot). [1](https://pitango.ventures/ayal-itzkovitz/) • [2](https://www.linkedin.com/in/ayali) Jounce, where he served on the board from March 2024 to March 2025, was acquired by [Red Hat](https://www.edgepedia.org/red-hat). [1](https://pitango.ventures/ayal-itzkovitz/) His own founding exit, Convergin to Oracle in 2010, predates his investing career. [4](https://www.calcalistech.com/ctech/articles/0,7340,L-3749848,00.html)
Two further outcomes appear only in Itzkovitz's own LinkedIn posts and have not been independently corroborated in the record. In one post he celebrated Via Transportation's NYSE IPO at a $3.65 billion valuation as a Pitango-backed company; [2](https://www.linkedin.com/in/ayali) in another he congratulated OpenAI on the acquisition of Pitango portfolio company neptune.ai, crediting his partner [Rami Kalish](https://www.edgepedia.org/rami-kalish) with leading the investment. [2](https://www.linkedin.com/in/ayali)
## Recent developments
The most significant recent development is the November 2025 fundraise. Pitango closed $300 million across two vehicles, with approximately $150 million going into Pitango First and approximately $150 million into Pitango HealthTech. [3](https://olam.business/pitango-venture-capital) In a LinkedIn post, Itzkovitz announced the launch of the new Pitango First early-stage fund, part of Pitango's $300M raise, describing its focus as backing the next generation of founders in AI, quantum, deeptech, and cybersecurity. [2](https://www.linkedin.com/in/ayali)
His board activity over 2024 and 2025 tracks the same period: he joined the Adaptive6 board in January 2024, joined and completed a one-year board term at Jounce between March 2024 and March 2025, and his SendBlocks observer role ended in May 2025. [1](https://pitango.ventures/ayal-itzkovitz/)
## References
1. [Ayal Itzkovitz | Managing Partner - Pitango](https://pitango.ventures/ayal-itzkovitz/)
2. [Ayal Itzkovitz | Managing Partner - Pitango First (profile)](https://www.linkedin.com/in/ayali)
3. [Pitango: Chemi Peres's Oldest Israeli VC | Olam](https://olam.business/pitango-venture-capital)
4. [Pitango Promotes Ayal Itzkovitz to Managing General Partner - CTech](https://www.calcalistech.com/ctech/articles/0,7340,L-3749848,00.html)
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*Topic: Encyclopedia › Society and history › Economics and business › Founders, operators, and investors › Venture and growth investors › Israel, Middle East, Africa, and Latin America venture*
*Initially written Sep 17, 2026 · Edited: Oct 11, 2026; Oct 15, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license