Najm CapitalNajm Fund I + Co-InvestGCC growth equity, infrastructure, and strategic buyouts · Q1 2026 reporting
3
K. Al Rashidi · Director
KR
All positions
Multiply Group
NYSE: MULTIPLYOn thesisDigital Media & AdTech·Take-Privates & Control Platforms·Growth Equity·Invested 2022·5% stake
Position
Mark1.22x
Gross IRR7%
Invested$80M
LatestNo recent touchpoints recorded.
Ownership + team
5% stake · 1 observer seatCommon equity
Abu Dhabi digital holding · 1.22x mark · programmatic advertising + digital media JV portfolio · ADX-listed with strong institutional support
Ask about Multiply Group · pulls from SharePoint memos + Snowflake fund DB + firm memory
Try
Financial profileLatest as of 2026-03-31
Revenue$185MLTM Q1 2026 · +28% YoY · organic + M&A
EBITDA margin22%Media-tech hybrid margins
MOIC1.22x$0.9B entry → $1.1B mark (ADX price)
Advertiser clients1,200+GCC + MENA brands
Three-way benchmark
Revenuemeasured in $M
Actual
Thesis target
VCP plan
Peer median
Performance update
Revenue $185M LTM · +28% YoY · bolt-on acquisition of Sauce (influencer marketing) closed Q4 2025
ADX:MULTIPLY price AED 1.28 · up 22% since Najm entry · institutional float improving
IHC ecosystem pipeline: 6 new IHC portfolio company mandates signed Q1 2026 · AED 42M incremental ARR
Arabic Gen-AI content studio launched Q1 2026 · early adoption by 40 advertiser clients