IMPACT46, Saudi Arabia’s leading CMA-authorized asset management firm, announced today the start of deploying capital through Fund III. The SAR 500 million fund, which was announced in February 2023, is dedicated to investing in tech companies in Saudi Arabia and the broader Middle East region.
IMPACT46’s Fund III is aimed at supporting homegrown startups with a focus on fintech, Software as a Service (SaaS), platforms, and cybersecurity. Fund III will invest in Saudi growth stage companies and up to pre-IPO stage businesses, with an allocation to seed stage startups and promising startups from the broader MENA region.
Abdulaziz Alomran, CEO and Founder of IMPACT46, said: “I am exceptionally proud of this milestone. Within a few months of announcing the fund, we began deploying investment capital. This showcases the strong appetite from investors to support emerging talent and innovation in our region. We are driven by our vision to make a positive impact by identifying, connecting, and investing in founders and startups who are passionate towards making a meaningful impact in the sectors they operate in.”
Basma Alsinaidi, Managing Partner of IMPACT46 added: “Looking ahead, we remain determined to further establish new partnerships and put our efforts towards supporting scalable and sustainable businesses that will contribute to the growth of the Saudi economy and the wider region. We will continue to seek opportunities that will drive us to deliver long-term value and returns to our investors while working alongside those who share our vision for effective change and industry development.”
Since its establishment in 2019, IMPACT46 has invested over SAR 650 million in more than 35 startups. The company’s first fund, Seed Fund, which was launched in 2019, recorded a 3.6x appreciation on investment to date. The second fund, Growth Fund, established in 2021, recorded a 1.9x appreciation on investment. IMPACT46 has successfully exited more than five investments, including the IPO of Jahez in 2021, the first Saudi tech startup to be listed on Nomu, the Saudi Exchange parallel market.
IMPACT46 focuses on supporting Saudi-based entrepreneurs who localize proven technologies that align with the pillars and objectives of Saudi Arabia’s Vision 2030, which aims to create a more diverse and sustainable economy.
