The news:
- RasMal, a Saudi equity management platform, has announced the acquisition of Pentugram, a cloud-based software as a service (SaaS) tool that automates investment processes for investors for an undisclosed sum.
- This move allows RasMal to reinforce its commitment to supporting the entrepreneurial ecosystem and simplifying fundraising and investment processes in the Middle East and North Africa.
- Following this development, RasMal will use Pentugram's platform to provide investors and find managers with feature-rich solutions for portfolio management and deal sourcing, among other things.
Pentugram users, on the other hand, will now have full access to RasMal's services.
Pentugram, founded in 2018 by Hasan J. Zainal, co-founder and managing partner of Arzan VC, and Miled Elias, is a regional cloud-based SaaS platform that streamlines investment processes for venture capital (VC), angel investors, private equity (PE), and financial advisors.
The platform automates the entire investment process, from deal sourcing to portfolio management, while providing limited partners with seamless reporting capabilities.
The company boasts a substantial client base that includes VCs across the MENA region.
RasMal, launched in 2019 by Basil Alkuraya, Nasser Al-Tamimi (COO), and Salem Aljawini, has emerged as a critical player in Saudi Arabia’s business landscape.
The company has solidified partnerships with numerous local and regional partners by offering its cap table management platform to several businesses.
With this acquisition, RasMal focuses on private capital investment management solutions.
RasMal's COO, Al-Tamimi, explained the rationale for the acquisition, stating that the management platform and Pentugram share a vision of providing relevant solutions to foster increased efficiency and transparency in the MENA investment landscape.
As startups and capital firms continue to increase in the regional market, RasMal believes that its user-friendly tech solutions will become even more indispensable to the sustainability of the ecosystem.
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He describes acquiring RasMal as an "initial foray into expanding its offerings beyond private companies."
Zainal stated that the co-founders developed Pentugram for VCs in the region to centralise data to improve decision-making throughout the investment process while potentially unlocking additional value through future data analysis.
”I am confident that the platform’s further evolution, coupled with RasMal’s acquisition, will broaden its accessibility to a wider array of asset managers beyond venture capitalists, ultimately leading to enhanced returns for all users,” he added.
