SAN MATEO, Calif., and TEL AVIV, Israel, Oct. 31 /PRNewswire/ -- Prologue Technology Entrepreneurship completed raising its initial funding from Pitango Venture Capital. Prologue is an entrepreneurship and investment boutique that employs a novel business model of identifying, screening, building, and commercializing of innovations in emerging technologies, primarily in nanotechnology. Prologue cooperates with inventors, entrepreneurs, academic institutions and research centers to identify and develop intellectual capital, and provides the funding and managerial expertise required to create high growth businesses.

Prologue is managed by highly experienced and accomplished entrepreneurs. Prologue's principals have been involved in founding and managing more than half a dozen companies in a variety of fields including telecommunications, transportation, software and medical imaging, and have created billions of dollars in shareholder value. These companies include Chromatis Networks (acquired by Lucent for $4.75 billion), Scorpio Communications (acquired by US Robotics, later 3Com), and Banner Aerospace.

Prologue identifies innovative scientific and technological know-how, validates market opportunities related to the invention, establishes a company together with the inventors, and provides initial funding to the company. After Prologue funds the company, it works closely with the founders to demonstrate technological and business feasibility. Once the key foundations of the business are established, additional funding is made available to the company from Prologue and from venture capital funds associated with Prologue.

Pitango Venture Capital ( http://www.pitango.com/ ), the leading venture capital fund in Israel, has provided Prologue with initial funding. Nechemia (Chemi) Peres, Managing General Partner and Founder of Pitango Venture Capital, said: "In the past two years Pitango has examined the field of nanotechnology, and Prologue is our first investment in this developing field." Aaron Mankovski, Managing General Partner of Pitango Venture Capital, added: "We are honored to partner with a team of such great record of scientific, entrepreneurial and business excellence, which includes the founders of Chromatis and Scorpio. We believe that the exciting and promising area of nanotechnology and other related areas, combined with Prologue's human capital, will create a pipeline of exciting start-ups with long lasting commercial viability."

Dr. Rafi Gidron, Partner of Prologue, formerly co-founder of Chromatis and Scorpio, said: "We apply the 'bottom-up' approach of nanotechnology to the process of turning raw concepts and research ideas into viable start-up companies. We focus on emerging technologies with special attention to nanotechnology, which is expected to be the most exciting technology frontier in the next decade." Nimrod Goor, Partner, who heads Prologue's office in the US (San Mateo, CA), added: "The combination of the Israeli scientific knowledge and leadership in the emerging field of nanotechnology and other related fields, coupled with the extensive business experience of the Prologue team and its close ties to the high-tech and investment community in the US and Europe, is a combination with tremendous potential."

With offices in Tel Aviv, Israel and San Mateo, CA, Prologue has immediate access to Israel's creative, start-up oriented scientific and engineering sectors, as well as customers and technology centers in Europe and the United States.

About Nanotechnology

Nanotechnology is based on the science of manipulating atoms, molecules and other units with dimensions below 100 nanometers, and exploiting the novel properties exhibited at these scales to fabricate improved materials, devices and systems. Unlike current production methods that are based on top-down manufacturing, nanotechnology enables taking tiny building blocks, such as atoms and molecules, and precisely assembling them to produce items with desirable characteristics.

About Prologue Technology Entrepreneurship

Prologue is an entrepreneurship and investment boutique focused on identifying, screening, building, and commercializing of innovations in emerging technologies, primarily in nanotechnology. Prologue cooperates with inventors, entrepreneurs, academic institutions and research centers to identify and develop intellectual capital, and provides the funding and managerial expertise required to create high growth businesses. Prologue is managed by highly experienced and accomplished entrepreneurs, and has offices in Tel Aviv, Israel, and San Mateo, CA. For additional information, visit http://wwww.prologue.co.il/ .

Source: Prologue Technology Entrepreneurship

CONTACT: Nimrod Goor of Prologue Technology Entrepreneurship,
+1-650-776-4112, nimrod@prologue.co.il

Web site: http://www.prologue.co.il/
http://www.pitango.com/