• Saudi Arabia-based equity management platform RasMal has acquired UAE’s Pentugram to expand its offering into private capital investment management solutions, for an undisclosed value.
• Founded in 2018 by Hasan J. Zainal and Miled Elias, Pentugram is a regional cloud-based SaaS platform that simplifies the investment process for VC, PE, and angel investors, with a portfolio includes VCs from around the Mena region. Meanwhile, RasMal, co-founded by Basil Alkuraya, Nasser Al-Tamimi and Salem Aljawini in 2019, automates cap table management, facilitates fundraising and enhances governance through a dynamic data room.
• Through the acquisition, Pentugram’s clientele will gain access to RasMal’s services, while RasMal will leverage the platform to enable investors and fund managers with feature-rich solutions.
• The announcement was made during the third edition of LEAP 2024 in Riyadh.

Press release:

RasMal, a leading Saudi-based platform for equity management tools, announced today that it had acquired Pentugram to expand its offering into private capital investment management solutions. This is RasMal’s inaugural acquisition.

Pentugram was established in 2018, and it was co-founded by Hasan J. Zainal (who’s also Arzan VC’s founder & managing partner) and Miled Elias. It is a regional cloud-based SaaS platform that simplifies the investment process for VC, PE, and angel investors, as well as financial advisors. The platform streamlines the entire process, from deal flow to portfolio management, with the ability to easily report to limited partners. Its clients include VCs from around the MENA region.

RasMal was co-founded by Basil Alkuraya, Nasser Al-Tamimi and Salem Aljawini in Riyadh, and, since its inception in 2019, it has been integral to the entrepreneurial wave in Saudi Arabia. Being the pioneer cap table management platform in the Kingdom, RasMal has become a trusted platform for thousands of local and regional partners.

The acquisition of Pentugram represents a pivotal step in RasMal’s mission to empower the entrepreneurial ecosystem and streamline the fundraising and investment processes. Pentugram’s clientele will gain access to RasMal’s services, while RasMal will leverage the platform to enable investors and fund managers with feature-rich solutions for deal flow management, portfolio management, reporting, and more.

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.”