International Holding Company unveils “Two Point Zero,” a next-generation enterprise with assets of 100 billion dirhams.

The International Holding Company has announced that its board of directors has approved the commencement of the transfer of Two Point Zero (2.0), which represents the next generation of the holding company that includes a multitude of diverse and dynamic subsidiaries, to the International Holding Company.

This transfer encompasses several sectors and aims to merge business groups from entities under common control to form Two Point Zero.

It is anticipated that this entity will have a substantial asset size expected to exceed the barrier of 100 billion dirhams. The completion of the transfer is pending, subject to all the required regulatory approvals being obtained.

His Highness Sheikh Tahnoon bin Zayed Al Nahyan, the Deputy Ruler of Abu Dhabi and Chairman of the Board of the International Holding Company, stated:

“We are proud to announce today the establishment of Two Point Zero, a next generation holding company that stands at the forefront of evolution across multiple sectors. We are preparing for the future with the confidence that Two Point Zero is dedicated to making a significant impact on the global stage. Our efforts and work within the technology and artificial intelligence sector underscore our commitment to developing solutions that reshape 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 and promote excellence in the technology sector while ensuring financial flexibility.”

A new era of diversified excellence

Two Point Zero surpasses being a mere holding company by embodying a vision that aspires to make advancements across various sectors. This includes private equity investments and alternative investments, venture capital operations, credit/asset management, and financial services (encompassing small business financing and insurance), as well as investment banking, securities brokerage and research, artificial intelligence and technology, management of metals and resources, digital ecosystems, cryptocurrencies, and transportation.

Promising future

Syed Basar Shuaib, the CEO of the Global Holding Company, stated:

“The strength of Two Point Zero lies in its diversity and a shared vision, as well as its unwavering commitment to progress and development. Its advanced ecosystem, which includes a distinctive group of business sector leaders, allows for unique contributions and collaboration, drawing strength from a common purpose. Two Point Zero is prepared to make a significant global impact by leveraging our expertise across these sectors and operating on an unprecedented scale.”

An overview of the companies included:

• Chimera Investment Corporation was established in 2007 as a private investment firm headquartered in Abu Dhabi, with a powerful global influence and expertise. The company manages a diverse portfolio of equities and aims to generate value-added opportunities in line with its investment vision. As part of the “Royal Group,” Chimera contributes to a conglomerate that includes more than 60 entities across various sectors and employs roughly 20,000 individuals. In 2023, Chimera launched Chimera Investment Corporation in partnership with Harris Capital and acquired Fyonet. It also sponsored and founded ADC Corporation, the first Special Purpose Acquisition Company (SPAC) in the region. Chimera Investment reported a net profit of 1.3 billion dirhams and assets worth 20.1 billion dirhams for the fiscal year 2022. Moreover, Chimera oversees its subsidiary companies, Lunit and Beltone.

Awaiting regulatory approvals, Lunet is a prominent independent global company that specializes in portfolio management with a focus on alternative investments. The company manages assets worth over 400 billion Emirati dirhams and is majority-owned by Chimera. Lunet’s investments are primarily centered in the private market sector, including acquisitions, investments in promising startups exhibiting significant growth, venture capital, private credit, and tangible assets, with selective investments in public equities and the credit sector. Lunet aims to secure a prestigious position in providing private market solutions and targets institutional investors, pension funds, and family offices, emphasizing the delivery of high risk-adjusted returns. Recently, at the United Nations Climate Change Conference (COP28), Lunet launched “Altera,” the world’s largest private investment vehicle dedicated to climate action, aimed at directing private finance towards climate initiatives and improving the equity of the climate finance system.

• Belton Holding (EGX: BTFH.CA), pending regulatory approvals, is one of the fastest-growing companies in the financial services sector in Egypt and the MENA region, offering a diverse portfolio of services that include:

1- Investment banking, asset management, securities brokerage, and research services.

2- Investment banking, asset management, securities brokerage, research studies, direct investments, private equity, venture capital, leasing, factoring (a process of selling commercial debts or invoices to a specialized third party), consumer financing, mortgages, and financing for small projects are all part of the financial services provided.

3- Data science and analytics, the academic field, digital factories, and the real estate sector.

The company operates under a strategic vision that aims to redefine the financial work system by leveraging global experience, knowledge, and comprehensive, value-adding solutions for its clients. Recently, Beltone successfully raised 10 billion Egyptian pounds, marking the largest capital increase in the history of the Egyptian Stock Exchange, elevating its paid-in capital from 926 billion Egyptian pounds to 10.9 billion pounds. Beltone’s stock is also one of the most actively traded and most liquid in the Egyptian Stock Exchange.

• International Resources Holding (IRH), headquartered in Abu Dhabi, specializes in initiating value-adding activities in the mining sector with a strategic focus on energy transition metals and key resources such as copper, cobalt, nickel, lithium, the 3T metals (tin, tantalum, and tungsten), manganese, and graphite. The company plays a central role in enhancing the in-country value-added chain across Africa and beyond, building ecosystems through strategic collaborations, improving infrastructure, and elevating living standards. IRH recently entered into a $1.1 billion investment agreement to acquire a 51% stake in Mopani Copper Mines in Zambia and partnered with Jubilee Metals to recover copper from waste in Zambia. Additionally, the company is negotiating over 20 assets and has exploration rights for more than 22,000 square kilometers in various countries.

• Sajass is a dynamic investment firm operating as a specialized purpose vehicle, dedicated to strategic investments in select companies. Primarily focusing on the Middle East region, Sajass plays a key role in the economic landscape there while maintaining the agility to explore opportunities in diverse global markets. Beyond its core investment portfolio, the company is actively involved in equities, cash instruments, and premium debt securities, reflecting its commitment to a comprehensive investment approach. For the fiscal year 2023, the company reported total assets valued at 8 billion dirhams and a book equity exceeding 8 billion dirhams, affirming Sajass’s financial strength and its ability to create value for stakeholders.

• Citadel Technology, a leader in the cryptocurrency mining industry, operates a state-of-the-art crypto facility in Abu Dhabi, United Arab Emirates. The company specializes in bitcoin mining and adheres to sustainable and efficient mining practices. Citadel’s strategic location in the United Arab Emirates allows it to utilize the advanced infrastructure of the region. In the fiscal year of 2022, Citadel reported revenues of 100 million dirhams and total assets amounting to 2.7 billion dirhams. Recently, International Holding Company acquired a 10% stake in the Phoenix Group, which manages the “Citadel Project.” The Citadel facility is recognized as the largest cryptocurrency mining establishment in the Middle East.