iAngels Ventures raises $55.5 million for first institutional fund
The fund is anchored by a $25 million investment from the European Investment Fund (EIF) under Horizon 2020, the EU Framework Programme for Research and Innovation
iAngels, the Israel-based venture capital firm and investment platform led by Mor Assia and Shelly Hod Moyal, announced on Tuesday the closing of $55.5 million in capital for iAngels Ventures, the firm’s first institutional fund. The new fund brings the firm's total assets under management to over $300 million.
iAngels Ventures invests in Israeli high tech and is anchored by a $25 million investment from the European Investment Fund (EIF). This investment, the largest the EIF has made in Israel to date, is a direct benefit of Horizon 2020, the EU Framework Programme for Research and Innovation.
Mor Assia (left) and Shelly Hod Moyal, Photo: Amit Shaal
With a focus on supporting its entrepreneurs in scaling global businesses, iAngels has produced 22 profitable exits and is expected to return this year alone more capital to investors than has been raised since the company’s inception in 2014. This includes eight recent announced or completed exits representing an expected aggregated enterprise value of $13 billion— among them Arbe, eToro, Applitools and Simplex.
“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,” said iAngels Founding Partner Mor Assia. “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.”
Additional investors in the fund include 20 iAngels’ portfolio company founders including, Talmon Marco, Founder and CEO of H2Pro and former Founder and CEO of Viber and Juno; Eyal Gura, Co-Founder of Zebra Medical Vision; Moran Shohat, Founder of Clear Genetics and Kobi Marenko, Founder and CEO of Arbe Robotics, who are expected to IPO in the coming months.
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"Successful Israeli entrepreneurs often pay it forward by investing time and capital to help the next wave of Israeli entrepreneurs profit from their success," added iAngels Founding Partner, Shelly Hod Moyal. "We’re honored that some of our most successful entrepreneurs see how iAngels contributed to their success and chose iAngels Ventures Fund as the vehicle for investing in the next wave of Israeli start-up and scale-up companies. We're pleased to become a hub for successful entrepreneurs, who are joining iAngels in sharing their wealth of knowledge and experience to influence the success of the Israeli companies."
EIF Chief Executive, Alain Godard added: “We are pleased to be supporting one of the first equity agreements between EIF and Israel, which will contribute to bridging EU-Israel start-up and venture capital markets. Through its active role in the European business angel network and the innovation arena, iAngels will be able to create additional ties and synergies between Israeli and European investors, helping businesses to grow and innovate.”