Najm CapitalNajm Fund I + Co-InvestGCC growth equity, infrastructure, and strategic buyouts · Q1 2026 reporting
3
K. Al Rashidi · Director
KR
All positions
GMG
On thesisSports Retail·Specialty Consumer & Industrial·Growth Equity·Invested 2021·6% stake
Position
Mark1.48x
Gross IRR13%
Invested$115M
LatestNo recent touchpoints recorded.
Ownership + team
6% stake · 1 board seat1.0x liquidation preference
Gulf sports and outdoor retail · 1.48x mark · Nike + Under Armour exclusive distributor UAE/GCC · GCC active lifestyle mega-trend and Saudi sports infrastructure driving growth
Ask about GMG · pulls from SharePoint memos + Snowflake fund DB + firm memory
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Financial profileLatest as of 2026-03-31
Revenue$1.85BLTM Q1 2026 · +22% YoY
EBITDA margin13%Retail distribution baseline
MOIC1.48x$1.1B entry → $1.63B mark
Store count620+GCC · UAE 310, KSA 215, others 95
Three-way benchmark
Revenuemeasured in $B
Actual
Thesis target
VCP plan
Peer median
Performance update
Revenue $1.85B LTM · +22% YoY · KSA growing 34% · 41% of total revenue
Champion own-brand: 8% of apparel GMV · $148M revenue · 48% gross margin
Nike exclusive UAE distribution agreement renewed for 8 years · Q4 2025
Najm-facilitated introduction to Saudi Sports Authority produced 3 facility supply contracts