Sarava Concludes 9-Year Investment in Evand

TEHRAN, Iran – Sarava Company, a pivotal investor within Iran’s burgeoning startup ecosystem, has finalized its nine-year investment in Evand, the nation’s leading online event platform. In a strategic move signaling a shift in its investment portfolio, Sarava Pars Company completed a share settlement, transferring its approximately 36% stake to Evand’s founder without any financial compensation. This decision reflects Sarava’s evolving investment strategy and Evand’s attainment of a business maturity level that necessitates new growth approaches and future investments.

Sarava’s Strategic Exit and Share Transfer

Sarava Pars Company’s exit from Evand’s shareholding structure marks the culmination of a nine-year partnership. The finalized share settlement, executed after constructive negotiations with Evand’s founder and management, resulted in the transfer of Sarava’s substantial 36% stake. Notably, this transfer was completed without any monetary exchange, underscoring the strategic nature of the decision. This move indicates a calculated realignment of Sarava’s investment focus, aligning with its broader strategic objectives within the Iranian startup landscape.

Evand: Iran’s Premier Online Event Platform

Evand, a pivotal player in Iran’s digital event management sector, is defined as the country’s first comprehensive online platform dedicated to organizing and registering events. This platform encompasses a wide range of events, including conferences, seminars, specialized workshops, and national conferences, streamlining the online registration process for participants. With over 14,000 in-person and virtual events hosted annually, Evand has established itself as a vital tool within the Iranian market, significantly contributing to the efficiency and accessibility of event management.

Sarava’s Strategic Reorientation and Portfolio Evolution

• Sarava has previously successfully exited shareholding structures of companies such as Digikala Group, Hezar Dastan (Cafe Bazaar and Divar), Alibaba, AloPeyk, and Navar.

Sarava, recognized as a leading investor in Iran’s startup ecosystem, has played a crucial role in fostering innovation and supporting promising businesses. The decision to divest its Evand shares reflects a strategic reorientation of Sarava’s future investment strategy. Sarava’s representatives have indicated that Evand has reached a level of business maturity that necessitates new approaches to growth and future investments. This exit is the sixth successful divestment from Sarava’s portfolio within the last three years, following similar exits from prominent Iranian tech companies such as Digikala Group, Hezar Dastan (operators of Cafe Bazaar and Divar), Alibaba, AloPeyk, and Navar. All previous exits were reached through win-win agreements.

Evand’s Growth

• Evand has reached a level of business maturity that requires new approaches to growth and future investments.

In a statement released by Sarava, the company expressed its gratitude to the Evand team for their collaborative efforts over the past decade. Acknowledging the challenges Evand faced, particularly during the COVID-19 pandemic, when in-person events were significantly impacted, Sarava highlighted its commitment to supporting Evand’s growth and development by providing experience and resources. This support underscores Sarava’s dedication to nurturing the Iranian startup ecosystem and facilitating the growth of promising ventures.

Future Hopes

• • The company anticipates Evand playing a more effective role in developing innovative services for event management, both in-person and online.

Looking ahead, Sarava conveyed its hope that Evand will leverage its professional and creative team to achieve greater success in its continued growth. The company anticipates Evand playing a more effective role in developing innovative services for event management, both in-person and online. This exit, however, necessitates that Evand secure new sources of capital to sustain its expansion. The changing investment landscape in Iran, as evidenced by this strategic shift, will undoubtedly influence future developments within the country’s burgeoning tech sector.

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