Knowledge before capital.

Know the market before you enter it.

We are a small advisory firm in Tehran. We help Iranian companies and investors from around the region enter new markets, raise money, and get deals done across borders.

Start a conversation See what we do
We started with data
In 2015 we built one of the first bilingual analytics platforms for the Tehran Stock Exchange. So when we tell you what the market is doing, it comes from numbers as much as from who we know.
You get the senior person
We keep the firm small on purpose. Whoever you speak to first is the person who does the work.
We speak to both sides
We have done deals internationally and we know how things actually work in Iran. A good part of our job is explaining one to the other.

Practice

We do three things, and only three.

We stay inside those three. Nothing here comes off a shelf. We build the answer around your situation.

Market entry and corporate finance

This is most of what we do. Our clients are Iranian companies, and investors coming in from the Gulf, Central Asia and further east.

  • Industry and market analysis, built on our own Tehran Stock Exchange data
  • Commercial, financial and legal due diligence before you enter a new market
  • Finding, structuring and helping you close an acquisition
  • Valuations, and arranging finance through equity or debt

Legal and transaction support

Run by a lawyer qualified in the United States, working alongside licensed Iranian counsel whenever Iranian law comes into it.

  • Reading and negotiating contracts
  • Setting companies up and structuring them
  • Deal documents and financing structures
  • Working out your sanctions exposure and how to stay clear of it

Investment and management consulting

Finding the opportunity is one thing. Building something that can carry it is another. We help with both.

  • Growing opportunities through partnership and taking an equity or debt position
  • Strategic planning and building out the organisation
  • Financial management, and how to structure your capital

Markets

Tehran, where the routes meet.

We work along the routes money actually travels. The Gulf, Central Asia, South and East Asia, with Turkey as the hinge in between.

Bedaan advises across the Gulf, Turkey, the Caucasus, Central Asia, and South and East Asia, from Tehran Tehran Turkey Istanbul Caucasus Central Asia Tashkent · Almaty The Gulf Doha · Dubai · Riyadh South Asia Delhi · Mumbai East Asia
This is a picture of where we work, not a map. The broken line means we take that work case by case.

Where we stop

What we say no to.

In this business, being clear about what you will not do matters as much as what you will. So here is ours.

  • We are not a brokerage and we do not execute trades.
  • We do not advise anyone from the United States or the EU on Iran business that sanctions restrict.
  • If something falls outside what we do, we will tell you, and point you to someone better placed if we can.

Market intelligence

Six dimensions. One judgement.

We started out building analysis tools for the Tehran Stock Exchange, and that work still sits underneath everything we do. No company gets judged on one number.

TSE market commentary

Notes we write in both languages on how the market is built, where sectors are heading, and anything that moves.

Custom research

Sector screens, comparables, market sizing, and analysis you can actually make a decision on.

Scoring across six dimensions

Fundamental strength, technical and market behaviour, sentiment intelligence, risk and volatility, macro and systemic factors, and governance and sustainability. Machine learning sets the weights across more than 40 financial measures.

Bilingual by default

Everything we write comes in Persian and English, so the local side and the foreign side are reading the same page.

The six dimensions assessed in Bedaan's scoring framework Fundamental strength Technical & market behaviour Sentiment intelligence Risk & volatility Macro & systemic factors Governance & sustainability
The six dimensions we score against. The shape here is an example, not a real company.

About

Ten years in this market. Two chapters of the same story.

  1. 2015

    A simple idea

    We started Bedaan in Tehran because we thought the Tehran Stock Exchange deserved proper investment tools, in both languages, built on real numbers. The name means know. It is still what we tell ourselves before we take anything on.

  2. 2015 to 2023

    Building the platform

    We built one of the first robo advisory and analytics platforms this market had, and ran it for investors in Persian and English.

  3. Today

    From platform to practice

    Now that same machinery sits behind an advisory firm. Market entry, corporate finance and legal support, for clients here and around the region.

Tehran's capital market. This is the ground we have worked for ten years.

Leadership

Every engagement is led personally.

Shadi Sedghinejad, Founder and Managing Director of Bedaan

Shadi Sedghinejad

Founder & Managing Director

Admitted to the New York bar in 1996, and more than twenty five years since then in corporate finance, securities and sanctions work, across Washington, London, Dubai and Tehran.

  • Counsel and international business development director, Tehran Stock Exchange
  • U.S. securities group at Freshfields; structured finance at Orrick
  • Senior legal consultant in Islamic finance, DLA Piper Middle East
  • Office of International Corporate Finance, U.S. SEC; Legal Department, IMF
  • Ran a sanctions due diligence helpdesk funded by the European Commission; vetted consultant to the UK Department for Trade
  • LL.M. in Securities and Financial Regulation, Georgetown; J.D., Dalhousie

Contact

Start a conversation.

Write in Persian or English and we will reply in the same. And if it is not something we do, we will say so.

Address
No. 281, 3rd Floor, North Felestin St., Innovation Center, Tehran, Iran

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