Eighteen years after founding Hanaco Ventures and retiring from the daily management of the fund, Pasha Romanovski announced that he was retiring.

Romanovski was involved in a number of scandals in the past few years, involving two companies he invested in. Vesttoo is an insurtech firm that has gone bankrupt and its founders have been accused of fraud. Infarm is the second company, a unicorn agricultural company that has also gone bankrupt.

In May this year, singer Omer Adam and investment director Ran Nussbaum filed a lawsuit against Romanovski on the basis of misleading investors. Romanovski, they claim, convinced them to invest $750,000 into Infarm by presenting them with a “presentation filled with lies”. ”

Romanovski said, “At that time, my partners, and I, teamed up to create a new venture fund, one which emphasizes working with leaders in their field, while fully committing to support their journey from the early stages of the company, to managing large, expanding companies.

“Today, following years of hard work in order to make this vision real, I have decided on a new course. It has been an honor to be one the founders of this fund, which is now my life’s work. I am proud of our joint and challenging work. I will continue to support portfolio companies within the fund in the near future, and then I will move on to my new project. As an investor, I am confident about the fund’s potential and the entrepreneurs. I will be available to them in the future, as well as now, for whatever they may need. On this occasion, i would like to thank all of you for the shared journey and the privilege of working in brilliant teams. I also want to thank you for the successes already achieved and those yet to come. ”

Alon Lifshitz said, on behalf of all the partners, “I thank Pasha, for many years’ friendship and a significant partnership in which we established together one of the largest, most active funds in Israel. We are sorry about his departure, and we wish him the best of luck on the new path that he has chosen. ”