Abu Dhabi-Listed IHC and Alpha Dhabi to Invest $50 Million in SpaceX

Abu Dhabi-registered International Holding Company and Alpha Dhabi will invest $50 million in SpaceX.

International Holding Company, which first acquired a stake in the aerospace company in 2020 through a private equity fund, will invest $25 million, while Alpha Dhabi - a subsidiary of IHC - will invest $25 million for the first time.

The deal is subject to regulatory approval and is part of the company's efforts to support innovation.

IHC first acquired a stake in SpaceX in the second half of 2020 through the Falcon CI IV private equity fund. It bought a 94 per cent stake in the Cayman Islands-based fund, which has invested in SpaceX.

IHC, majority-owned by the Abu Dhabi-based PAL Group, has been steadily expanding its portfolio with acquisitions in emerging technology, real estate and healthcare businesses. At the end of March, it had more than 30 businesses and a portfolio of 323 subsidiaries.