Najm CapitalNajm Fund I + Co-InvestGCC growth equity, infrastructure, and strategic buyouts · Q1 2026 reporting
3
K. Al Rashidi · Director
KR
All positions
Careem
On thesisSuper-App & Mobility·AI & Data Platforms·Secondary·Invested 2020·0.00% stake
Position
Mark2.50x
Gross IRR145%
Invested$45M
LatestNo recent touchpoints recorded.
Ownership + team
0.00% stake · No seat (exited)Common equity
REALIZED EXIT · Uber subsidiary · secondary stake sold Q3 2023 at 2.5x · $145% IRR · position fully exited · thesis on MENA super-app consolidation validated
Ask about Careem · pulls from SharePoint memos + Snowflake fund DB + firm memory
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Financial profileLatest as of 2023-09-30
Exit proceeds$112MGross · Q3 2023 secondary sale
Return multiple2.5xGross MOIC on $45M invested
IRR145%Annualized · 3.5-year hold · realized
DistributionNov 2023LP distribution completed
Three-way benchmark
Position valuemeasured in $M
Actual
Thesis target
VCP plan
Peer median
Performance update
REALIZED · Secondary sale closed Q3 2023 · 2.5x gross MOIC on $45M invested
Distribution to LPs completed November 2023 · $112M gross proceeds
Thesis validated: MENA mobility + super-app consolidation thesis proven
Learnings integrated into Kitopi and Wio Bank investment theses