Najm CapitalNajm Fund I + Co-InvestGCC growth equity, infrastructure, and strategic buyouts · Q1 2026 reporting
3
K. Al Rashidi · Director
KR
Evening, Khalid
· Sunday, May 17· Q1 2026 reporting window· Dubai officeSince you last checked:
4new deals·
5DDQs awaiting you
Today's decisions
What needs partner attention before the next committee cycle
Thu 10:00
IC pre-read for Bayanat AIGovernment contract concentration is the vote issue; IC needs a clear diversification case before Thursday.
Sara Al Mazrouei
Sun 15:00
Mubadala reporting sign-offQ1 pack is 64% drafted; mark bridge needs Arabic-ready wording on Masdar and Pure Harvest.
Amira Al Marzouqi
May 2
PIF co-invest allocationVision 2030 impact memo is the gating artifact for the sidecar discussion.
Mohammed Al Rashidi
Next board
GMG board escalationChina supply-chain exposure moved from watch item to board agenda action.
Jassim Al Hosani
Try
IC PipelineSource → committee
1 deal sitting at IC memo · Tabby closes this week.
Active8
New today4
Diligence2
PortfolioGovernance + value
8 positions drifting from thesis — Anghami, YAP, Network International +5 more.
Positions25
At thesis17
Drift8
LP & CapitalReporting + notices
Mubadala Q1 pack 64% drafted · 5 DDQs awaiting sign-off.
LPs18
Committed18
Open DDQs5
Market IntelGCC monitors
China supply-chain exposure across the portfolio → +3 portcos flagged.
Monitors4
New2
Scenarios2
Fund snapshotAs of Q1 2026 · reporting cycle live
Najm Fund IVintage 2020
Gross MOIC1.61x
Gross IRR19.4%
InvestedUSD 3B
Co-Invest VehicleVintage 2022
Gross MOIC1.44x
Gross IRR88.2%
InvestedUSD 550,000,000
Portfolio25 positions
Weighted mark1.37x
On thesis17 / 25
Dry powderUSD 1B
Relationship memorySovereign and anchor LP context stays attached to every workflow
PIFUSD 800,000,000
Vision 2030 alignment and Saudi economic diversificationRiyadh, Saudi Arabia
MubadalaUSD 360,000,000
Abu Dhabi strategic asset developmentAbu Dhabi, UAE
QIAUSD 425,000,000
Qatar National Vision 2030 alignmentDoha, Qatar
ADQUSD 300,000,000
Abu Dhabi economic diversificationAbu Dhabi, UAE
KIAUSD 480,000,000
Conservative, long-horizon mandate · one of world's oldest SWFsKuwait City, Kuwait
Connectors · 3 streaming · 7 on cadence · 2 not connected
All connectors healthy