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Israeli venture capital (VC) firm Carmel Ventures is changing its name to Viola Ventures and has announced a new $200 million fund.

Founded in 2000, Carmel Viola Ventures focuses on early-stage tech investments, and the firm already had more than $800 million in assets under management (AUM), spread across four funds. It has some notable names in its investment portfolio, including cloud monitoring company Cloudyn, which was acquired by Microsoft earlier this year; fintech firm Payoneer; and adtech startup Outbrain. Payoneer and Outbrain have garnered nearly $500 million in funding between them.

Viola Ventures said that its new fund was raised from a “significant number of returning investors,” in addition to new investors from across Europe, the U.S., Asia, and Israel.

Though the fund has a target of $200 million, it only has commitments of around $170 million for now. But this will see the company cross the $1 billion AUM mark across its five funds.

“With this latest fund, Viola Ventures is doubling down on its commitment to support the best Israeli entrepreneurs and to build global technology leaders by providing the extra edge they need to succeed in the global arena,” said Viola Ventures general partner Daniel Cohen. “We believe Israel will continue to cultivate global leaders and Viola Ventures, with its new capital, enhanced team, and the benefits of the Viola group, will continue to be a central player in this ecosystem.”

The name change actually makes sense, given that Carmel Ventures is part of the broader private equity investment group known as Viola Group, which includes Viola Growth, Viola Credit, and Viola Partners.

In addition to the new name and fund, Viola Partners has appointed two new partners — former Goldman Sachs senior VP Omry Ben David and LifeBeam cofounder and CTO Zvika Orron.

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