Rasmussen Group
5550 NE 22nd Street, Des Moines, IA, 50313, United States
Overview
The Rasmussen Group is made up of twelve different design-build heavy construction firms. The Rasmussen Network can provide total client service with a group of companies that offers in bridge building, marine contracts, concrete and asphalt supply, paving, heavy haulage, dump trucks, crane operations, and steel fabrication.
- Total investments
- 1
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 0
Sector focus
- Building Material
- Construction
- Real Estate
Investment portfolio
- Oda
Participated · Equity · Dec 2022
Oda operates a digital grocery marketplace that delivers food and household staples directly to consumers in Norway and, following a November 2023 merger, through Mathem in Sweden. The company combines an online storefront with its own fulfillment and last-mile logistics network to replace traditional supermarket trips. Heavy expansion has generated steep losses, with the holding company posting a –SEK 2.05 billion pre-tax result in 2024 after –SEK 1.6 billion in 2023. Management has launched aggressive cost-cutting, shedding more than 600 positions since the merger and replacing founder Karl Munthe-Kaas as CEO in March 2024. In September 2024 the group placed Mathem into reconstruction to address SEK 600 million of debt, exiting the process in August 2025. Oda has repeatedly tapped shareholders for capital—raising bridge loans and equity injections in 2024 and 2025—and now aims to use fresh funds to reach profitability. Existing bridge loans raised in 2025 are scheduled to convert to equity during a planned refinancing round in autumn 2025.
Team
No current team members are available.