As fund manager of Venture Capital InsurTech Fund and Impact Growth Fund (Impact46), Impact Financial Company announced the successful completion of the sale of the entire stake in Rasan Information Technology Company through an Accelerated Bookbuild Offering.
The offering comprised 13,296,836 shares, representing approximately 17.16% of Rasan’s issued share capital and the entire shareholding of Impact46’s managed funds in Rasan. Of this, 9,895,690 shares (c. 12.77%) were held by Venture Capital InsurTech Fund, while Impact Growth Fund held 3,401,146 shares (c. 4.39%). The offering size was approximately SAR 918 million, with the final offer price set at SAR 69 per share.
Following the transaction, Rasan should benefit from enhanced stock liquidity and a diversified shareholder base, positioning the Company for its next phase of growth.
Abdulaziz Alomran, Founding Partner & CEO of Imact46, said: “For Impact46, this transaction is the culmination of our successful partnership with Rasan as one of its earliest investors. Having helped Rasan evolve from a motor insurance platform to a diversified fintech and insurtech leader, today listed on one of the largest stock exchanges in the world, it is now the right time for Impact46 to exit our investment. This is in line with our strategy to identify and scale high-growth companies while optimizing our capital allocation for future opportunities.”
“The strong interest from domestic and international institutional investors underscores Rasan’s solid market position, operational excellence, and confidence in its continued growth. By transitioning to a broader institutional investor base, Rasan is well-equipped to sustain its momentum and create long-term value for shareholders, further delivering on our contribution to Saudi Arabia’s economic transformation in alignment with Vision 2030.”
The transaction marks another fully realized investment for Impact46 in the Kingdom and follows a series of successful exits achieved by Impact46, including Jahez, Tamara, and Lendo. In executing this transaction, Impact46 continues to demonstrate its leadership in venture capital and private equity, reinforcing its role in scaling high-growth companies and allowing it to continue investing into the next generation of promising startups, further strengthening the Kingdom’s investment landscape.
