- $55.5 million (€47M) closing of iAngels Ventures announced by iAngels - a women-led venture capital firm and investment platform
- Investment supported by EIF under the Horizon 2020, the EU Framework Programme for Research and Innovation.
TEL AVIV, Israel and LUXEMBOURG, July 27, 2021 /PRNewswire/ -- iAngels, a women-led, Israel-based venture capital firm and investment platform led by Mor Assia and Shelly Hod Moyal, announced the successful closing of $55.5 million in capital for iAngels Ventures, the firm's first institutional fund, bringing its total AUM 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 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).
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," explains 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."
iAngels Founding Partner, Shelly Hod Moyal adds, "Successful Israeli entrepreneurs often pay it forward by investing time and capital to help the next wave of Israeli entrepreneurs profit from their success. 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."
Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth, commented: "We are proud to support a women-led fund active in the Israeli high-tech market. Our investment is reinforcing the links between Israel and the European Union, and will result in strengthened cooperation in the research, development and innovation sphere."
President of the EIB, Werner Hoyerexpressed, "Support for innovation and SMEs are key priorities for EIF and the EIB group. With the signature of this new agreement, the EIB Group is demonstrating a commitment to support innovative and dynamic businesses. EU backing for equity funds such as iAngels can play a role in creating an ecosystem for tech growth. Innovation and SMEs are crucial for Israel and the European Union as we work to increase competitiveness in local and global markets."
EIF Chief Executive, Alan 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."
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. Marenko comments, "iAngels is extraordinary. They're investors of the highest calibre—sharp, smart, connected, and full of energy. In Israel where there is no lack of venture funds, iAngels is one of the best."
The General Partners of iAngels Ventures include iAngels founders Hod Moyal and Assia, as well as iAngels Chairman David Assia. David Assia, an experienced entrepreneur and prominent Israeli angel investor articulates, "iAngels Ventures is invested, and will continue to invest, in industries ripe for disruption and growth, where the potential for both impact and returns are high. Whereas previously the adoption of technology took years, if not decades, we are now seeing rapid adoption of technologies, a sign we see as the world readily accepting a tech-dominated future. I'm honored to partner with so many of our LPs who share this vision with us."
iAngels is a venture capital firm founded in 2014 by Shelly Hod Moyal, Mor Assia and David Assia, that sits in the heart of Tel Aviv. Founded with the same entrepreneurial spirit as the companies it invests in, iAngels offers professional investors worldwide exclusive access to high-tech startups originated in Israel and curated through a streamlined due-diligence process. With more than $300 million AUM, a global network of 20,000 members, iAngels is one of the most active investors in the Israeli-tech ecosystem, helping its portfolio companies scale internationally through a vast global network of serial entrepreneurs, professional investors and industry experts. For more information visit the company's website at www.iAngels.com.
The European Investment Fund (EIF) is part of the European Investment Bank group. Its central mission is to support Europe's micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments, which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.
About InnovFin Equity
This investment is supported by InnovFin Equity with the financial backing of the European Union under Horizon 2020, the Framework Programme for Research and Innovation (2014-2020). Through or alongside selected Venture Capital (VC), Business Angels (BA), Technology Transfer funds and funds-of-funds, the EU provides risk capital financing to enterprises, research organisations, universities in their proof-of-concept, pre-seed, seed, start-up and other early-stage phases allowing them to set up or reach their next stage of development.
InnovFin Equity investments, deployed by the European Investment Fund (EIF), can represent up to 50% of the total commitment made by the financial intermediary, who shall demonstrate a high policy fit by targeting in its investment strategy sectors covered by Horizon 2020 including ICT, medical technologies, biotechnologies, green technologies, nanotechnologies, etc. In addition, the facility has been designed to support Horizon 2020 objectives addressing societal challenges such as those related to resource efficiency, bio-economy, health and demographics, and climate change.