Categories: Economy

Lifshitz Steps Down from Hanaco Fund Amid Challenges and Controversies

Alon Lifshitz, one of the co-founders of the venture capital fund Hanaco, recently announced his retirement after managing the fund for about eight years. The past year has been particularly tumultuous for Lifshitz, with one of the fund’s investments, Vesttoo, facing allegations of fraud and forgery. Vesttoo, a startup that created a financial market for insurance guarantees, filed for Chapter 11 protection in the USA and ceased operations in Israel.

Lifshitz was a board member of Vesttoo and took immediate action to change the management and bring in a financial investigation company to look into the allegations. Despite the challenges with Vesttoo, Lifshitz faced another lawsuit from singer Omer Adam and the founder of Pontifex biotech fund regarding false information presented about the company Infarm, which also faced financial difficulties. Lifshitz will be stepping down from all company boards following his retirement from Hanaco.

The Hanaco Fund, which manages a fund of $2.5 billion and is one of the largest capital funds in Israel, has expressed gratitude for Lifshitz’s contributions and wishes him success in his future endeavors. Lifshitz, on the other hand, expressed pride in his work with the fund and emphasized his commitment to supporting portfolio companies even after his retirement. Despite the challenges faced, Lifshitz remains confident in the success and potential of the fund and its entrepreneurs.

Romanovsky

Samantha Johnson

As a dedicated content writer at newseeped.com, I thrive on transforming ideas into captivating narratives that engage and inform our readers. With a passion for storytelling and a keen eye for detail, I craft articles that resonate with our audience and help amplify our platform's impact. My background in journalism and creative writing allows me to blend authenticity with flair, ensuring each piece I produce is not only informative but also compelling. I am honored to be part of a team that values quality content and am excited to continue contributing to our mission of delivering top-notch news coverage to our readers.

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