Riyadh – Sharikat Mubasher: Impact46, a leading investment and advisory firm in the kingdom announced a SAR 50 million ($13.3 million) investment in Cipher for Cybersecurity solutions, as part of a pre-offering round.
This investment comes in line with Cipher's vision to lead the future of cybersecurity, aiming to bolster its growth and technological innovations at the local and global levels, according to a statement by Impact46.
Founded in 2019, Impact46 has quickly established itself as a leading asset management firm focused on venture capital in the Kingdom and is one of the first venture capital-focused companies authorized by the Capital Market Authority (CMA).
Impact46 focuses on investing in tech startups and operates as both an asset management and arrangement advisory firm. Currently, the majority of the company’s portfolio consists of Saudi-based ventures, reflecting our deep roots and integration with the local ecosystem.
