MK Erel Margalit (Zionist Union) has decided to resign his Knesset seat.
Margalit, a high-tech and social entrepreneur, was elected to the Knesset in 2013 on the Labor party ticket and served as a member of the Finance Committee and the Science and Technology Committee. He chaired the Parliamentary Task Forces for Economic Development in the North and the Negev, Cyber Protection and Combating Living Costs in Israel, and co-chaired the Parliamentary Task Force for Small and Medium Businesses, Integrating the Ultra-Orthodox in the High-Tech Sector, Employment for the Arab-Israeli Sector, 40+ Employment, and the Task Force for the City of Jerusalem.
Previously, Margalit was the founder and managing partner of the Jerusalem-based venture capital firm Jerusalem Venture Partners (JVP). In 2005, Forbes international business magazine selected Margalit as the top-ranking non-American venture capitalist on its prestigious "Midas (The Golden Touch) List.” In 2010, The Marker Magazine named him the best venture capitalist in Israel.
Margalit is the second Zionist Union Knesset member to resign within a week after Prof. Manuel Trajtenberg also offered his resignation last week.