Objectives: Angiogenesis, the process of formation of blood vessels, is essential for many physiological as well as pathological processes. It has been shown that human adipose tissue contains a population of non‐characterized cells, called stromal‐vascular fraction (SVF) cells, which are able to differentiate into several lineages. The aim of this study was to determine conditions for promoting differentiation of human adipose tissue progenitors towards endothelial cells, as well as to show that SVF cells cooperate with differentiated endothelium in capillary network formation. Materials and methods: Stromal vascular fraction cells were isolated according to modified Hauner's method and after adaptation they were cultured in pro‐angiogenic or pro‐adipogenic medium. Cells were characterized by presence of surface antigens by flow cytometry, and by expression of genes characteristic for endothelial cells or for adipocytes, quantitative real‐time polymerase chain reaction. A number of tests were performed to verify their differentiation. Results: Differentiation of human SVF cells towards endothelium was stimulated by the presence of serum and absence of adipogenic factors, documented by the pattern of gene expression as well as different functional in vitro assays. SVF cells were found to work together with human umbilical vein endothelial cells to form capillary networks. Conclusions: Here, we show that differentiation of SVF cells to endothelial cells or adipocyte‐like cells depended on the medium used. Our work provides a clear model for analysing the differentiation capacity of SVF cells.