In order to broaden its offering into private capital investment management solutions, RasMal, a well-known Saudi platform for equity management tools, announced today that it has acquired Pentugram. This marks RasMal’s first acquisition.
Pentugram was founded in 2018 by Miled Elias and Hasan J. Zainal, who is also the founder and managing partner of Arzan VC. Financial advisors and VC, PE, and angel investors find the regional cloud-based SaaS platform to be user-friendly in streamlining the investment process. With the ability to quickly report to a small number of partners, the platform simplifies every step of the process, from deal flow to portfolio management. The MENA region’s venture capitalists are among its clientele.
In 2019, RasMal was established in Riyadh by Basil Alkuraya, Nasser Al-Tamimi, and Salem Aljawini. Since then, it has played a significant role in the Saudi Arabian entrepreneurial scene. As the first cap table management platform in the Kingdom, thousands of regional and local partners now rely on RasMal as their platform of choice.
In order to strengthen the entrepreneurial ecosystem and expedite the investment and fundraising procedures, RasMal acquired Pentugram, marking a significant milestone in the company’s journey. RasMal will use the platform to give investors and fund managers feature-rich solutions for deal flow management, portfolio management, reporting, and other areas. Pentugram’s clientele will have access to RasMal’s services.
Nasser Al-Tamimi, RasMal’s co-founder & COO, commented, “We at RasMal believe in the shared vision of both entities—the vision of offering solutions that create a better and more transparent investment environment in the region. This acquisition marks RasMal’s initial step towards expanding its offerings beyond private companies. Despite the abundance of startups and capital in the market, simplified tech solutions like ours are crucial for ensuring the sustainability of the ecosystem.”
Hasan J. Zainal, Pentugram’s Co-founder, noted, “We’ve built Pentugram for VCs in the region and Arzan VC has been using it since 2018. The reason for its creation was simple: we had confidence that consolidating data would enhance our decision-making across the investment process, potentially unlocking additional value through future data analysis. I am convinced that further development of the platform, coupled with RasMal’s acquisition, will extend its accessibility to a broader range of asset managers beyond just venture capitalists, ultimately leading to improved returns for all users.”
