Senior Likud MK and former cabinet minister Danny Naveh announced Sunday he would resign from the Knesset.

The resignation will take effect on Tuesday.

Naveh said Sunday that he would be heading a venture capital fund dealing with advancements in medicine.

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As a Likud cabinet minister, he opposed the 2005 disengagement from Gaza, spearheaded by then-prime minister and Likud party chairman Ariel Sharon.

Naveh first came to public attention as cabinet secretary during the tenure of ex-prime minister Benjamin Netanyahu in the late 1990s. During the period of the first Gulf war, he served as a senior aide to then-defense minister Moshe Arens.

In 2001, Sharon named Naveh to the cabinet, later choosing him as health minister.