Djarum investment arm moves to take full control of Najwa Shihab's Narasi

Global Digital International (GDI), an investment vehicle under Djarum-owned GDP Venture, is set to acquire all shares in Narasi Citra Sahwahita, the company behind Indonesian digital media platform Narasi.

The planned acquisition was announced by Narasi director Catharina Davy Sopamena in a notice on 8 September, saying the transaction had received approval from all of the company’s shareholders.

The announcement did not disclose the transaction value or the ownership structure of Narasi following the acquisition.

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GDI’s move to take full control of Narasi builds on an investment relationship with the media company dating back to its launch in 2018. GDP Venture and Go-Ventures, the investment arm of Gojek, participated in Narasi’s seed round.

GDI subsequently provided debt financing to Narasi in October 2021. The debt was later converted into shares following a shareholder resolution in December 2025, increasing Djarum’s stake in the business.

Narasi was established in 2018 by journalist Najwa Shihab alongside Dahlia Citra and Sopamena, and was subsequently registered and verified by Indonesia’s Press Council in November 2019.

Shihab had previously described the partnership with GDP Venture as a way to support the development of Narasi’s business and content offering.

The planned acquisition adds another prominent digital media brand to Djarum’s growing media and entertainment interests through GDP Venture, the venture capital firm founded by Martin Hartono in 2010.

GDP Venture’s portfolio includes stakes in digital media and entertainment businesses such as Kumparan, IDN Media, DailySocial, Historia, Bolalob, Endeus, Yummy, Visinema and Kaskus.

The addition of Narasi would further broaden Djarum’s exposure to Indonesia’s digital content ecosystem, spanning news, entertainment, communities and lifestyle content.

The acquisition also puts the future direction of Narasi, including its content strategy under new ownership, in focus as the transaction progresses.

The change of control received approval from Indonesia’s minister of law on 2 September 2026. Under Indonesia’s company law, creditors have 14 days from the publication of the announcement to submit written objections to the proposed acquisition.

Discover what's next in Indonesia's fast-moving digital landscape at DMA Indonesia 2026 on 13 October in Jakarta, where marketing leaders will explore how AI, creator ecosystems, social commerce, and omnichannel strategies are reshaping customer engagement and business growth.

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