Israel's 22 leading venture capital firms together managed $10.6 billion in aggregate capital at the end of 2006, just 4 percent more than the $10.2b. in their care one year before, according to figures released Tuesday by Dun & Bradstreet Israel. "The modest increase of 4% in investments can be explained against the background of a reduction of capital investments raised in 2006," said economists at D&B Israel. "Most of the capital investments were executed in 2004 and 2005 and as such we did not see a significant increase in the volume of capital investments in 2006." Pitango Venture Capital led the list for the second year in a row with roughly $1b. in aggregate capital under its management. The fund invested into 70 companies in 2006. In second place, came Star Ventures, which invests in 120 companies, with $980 million under its management. Evergreen, with $790m. under its management, jumped to third place from seventh with investments in 107 companies. Evergreen was closely followed by Markstone Private Equity Fund in fourth place with $780m. under its management, while Apax Partners was ranked in fifth place with $740m.; First Israel Mezzanine Investors with $720m. in sixth; Jerusalem Venture Partners with $685m. in seventh; Vertex Capital Funds with $635m. in eighth; Gemini Israel Funds with $550m. in ninth; and Genesis Partners with $513m. in the number 10 spot.