Leading venture capitalist Erel Margalit will run for a Knesset seat with the Labor party in the upcoming elections, it was announced on Wednesday.

Margalit, long associated with Labor, is one of the top VCs in Israel and head of Jerusalem Venture Partners, which manages investments approaching $1 billion.

Also on Wednesday, National Union of Israeli Students Chairman Itzik Shmuli, a leader of last year’s social protests, announced he would run with the Labor party. He will join protest movement colleague Stav Shaffir, who announced on Friday she would be run with Labor.

Elections are to be held January 22, 2013. The date for the Labor primary had not yet been set.

National Union of Israeli Students Chairman Itzik Shmul shakes hands with Shelly Yacimovich as he joins the Labor Party, on October 17, 2012 (photo credit: Yossi Zeliger/Flash90)

National Union of Israeli Students Chairman Itzik Shmuli shakes hands with Shelly Yacimovich as he joins the Labor Party, on October 17, 2012 (photo credit: Yossi Zeliger/Flash90)