Abu Dhabi conglomerate International Holding Company (IHC) announced the new establishment of a holding company, 2PointZero, which will have more than Dh100 billion ($27.2 billion) in assets.
The statement disclosed the approval of the initiation of the transfer of entities to 2PointZero, from the IHC’s board. The move will help transfer ownership to 2PointZero after obtaining the regulatory approvals.
Sheikh Tahnoon bin Zayed al-Nahyan, the chairman of IHC and the UAE‘s national security adviser and a foreign policy troubleshooter for his brother, President Sheikh Mohammed bin Zayed al-Nahyan, stated, “Today, we are proud to announce the formation of 2PointZero, a next generation holding company that stands at the forefront of pioneering advancements across multiple sectors. Embracing the future with open arms, 2PointZero is committed to having a transformative impact globally. Our dedication to Technology and Artificial Intelligence (AI) is evident in our commitment to developing solutions that redefine industries such as Financial Services, Investment Banking, and Resource Management. Our vision transcends boundaries, and our mission is to build sustainable ecosystems that empower communities, cultivate technological excellence, and ensure financial resilience.”
The listed companies under 2PointZero include – International Resources Holding (IRH), Sagasse Investments, Citadel Technologies, Chimera Investments and its subsidiaries Lunate and Beltone.
Chimera Investments is an Abu Dhabi-based private investment firm that reported a net profit of AED 1.4 billion and assets of AED 20.1 billion for FY22. It is in charge of the subsidiaries Lunate and Beltone. Lunate manages over AED 400 billion in assets. Lunate recently launched ALTÉRRA at COP28 that aims to steer private finance towards climate action. Beltone Holding is one of the fastest growing financial services in Egypt and the MENA region and has raised Egyptian pounds 10 billion in the history of largest capital increase in the Egyptian Stock Exchange (EGX) recently.
Abu Dhabi headquartered International Resources Holding (IRH) that focuses on energy transition minerals and resources such as Copper, Cobalt, Nickel, Lithium, 3T (Tin, Tantalum & Tungsten), Manganese, and Graphite. Recently, IRH signed an agreement of $1.1 billion investment for a 51% stake in Zambia’s Mopani Copper Mines and collaborated with Jubilee Metals to recover copper from waste in Zambia. It has over 20 assets under negotiation and more than 22,000 square kilometres under exploration in various countries.
Sagasse Investments is a dynamic investment company, with a primary focus on the Middle East. The company reported total assets of AED 8 billion and book equity exceeding AED 8 billion in the fiscal year 2023.
Abu Dhabi based Citadel Technologies is one of the leading cryptocurrency mining industries in the country. It reported a revenue of AED100 million and an asset size of AED2.7 billion in FY22.
The new holding company, 2PointZero, is poised to lead multiple sectors like private equity and alternative investments, venture capital operations, asset management, financial services, investment banking, securities brokerage and research, mineral and resource management, AI and technology, digital and cryptocurrency ecosystems, and mobility.