iAngels, a women-led Israeli early-stage venture capital firm, has closed its first institutional fund at $55.5 million.
The iAngels Ventures fund raises the total assets managed by the VC firm to $300 million. Founded in 2014, iAngels says it counts a network of more than 20,000 members across the world.
Led by Mor Assia and Shelly Hod Moyal, the fund is backed by a $25 million investment from the European Investment Fund (EIF), making it the biggest such infusion that the European investor has made in the West Asian country. The new fund will back businesses in tech-based sectors like digital health.
Apart from the EIF, several founders from iAngels’ portfolio also participated in the new fund. These include Talmon Marco, founder and CEO of H2Pro and former founder and CEO of Viber and Juno; Eyal Gura, co-founder of Zebra Medical Vision; and Kobi Marenko, founder and CEO of Arbe Robotics.
iAngels has made 22 exits in the last seven years since it was created. Some of its best-known exits include Simplex, Applitools, Arbe and eToro. Other prominent names it has backed in the past include Better Juice, Amai Proteins, Binah.ai, Immunai, Weissbeerger and ZooZ.
“The Israeli startup ecosystem has reached a new level of maturity, moving from ambitious startups to building sustainable billion-dollar tech companies with a global footprint,” Assia said in a statement.
“We are well-positioned now to lead rounds and provide significant support to our companies from inception to exit. We are proud that our portfolio companies are driving innovation and firmly believe that Israel is uniquely capable of cultivating technologies that will generate impact around the globe,” she added.