Israeli women-led VC firm iAngels announced the closing of $55.5 million in capital on Tuesday for iAngels Ventures, the firm’s first institutional fund. The investment is anchored by a $25 million investment from the European Investment Fund (EIF), the largest the EIF has made in Israel to date and after a multi-year vetting process that examined all Israeli VCs, iAngels indicated.

The VC firm was founded in 2014 by Mor Assia and Shelly Hod Moyal and specializes in early-stage startups positioned to scale. Its portfolio companies include firms that are going public like Arbe Robotics and eToro; early-stage startups like Better Juice and Amai Proteins; mid-stage companies like Binah.ai and Immunai; and acquired companies like Weissbeerger, Applitools, and ZooZ.

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