Israel-based venture capital firm and investment platform iAngels Ventures, led by Mor Assia and Shelly Hod Moyal, has announced the closing of $55.5 million for its first institutional fund. The new fund will be its first to stress digital health and other world changing technologies. iAngels has recorded 22 exits and seven years, including Arbe, eToro, Applitools and Simplex, and the latest fund brings its total capital under management to over $300 million.

iAngels Ventures latest fund 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 and after a multiyear vetting process that examined all Israeli VCs, is a direct benefit of Horizon 2020, the EU Framework Programme for Research and Innovation (2014-2020).

Assia said, “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. 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.”

The fund is supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments.