Abu Dhabi’s IHC and Alpha Dhabi to invest USD50m in SpaceX
Abu Dhabi-listed companies International Holding Company (IHC) and its subsidiary Alpha Dhabi will invest a combined amount of USD50 million in Space Exploration Technologies Corporation (SpaceX).
IHC, which already has a stake in SpaceX, will increase its investment by USD25 million. Alpha Dhabi will make its first invest, also USD 25m, into the aerospace company.
in 2020, IHC first indirectly invested into SpaceX via private equity fund Falcon CI IV. Acquiring a 94% stake in the Cayman Islands based PE fund, which in turn backed SpaceX
founded in 2002 by by billionaire entrepreneur Elon Musk Space Exploration Technologies Corporation (SpaceX) is spacecraft manufacturer, space launch provider, and a satellite communications corporation. The company also operates a global satellite constellation service Starlink, which provides high-speed broadband internet services across various countries.
Alpha Dhabi legal team was led by its Group General Counsel Adel Al Omari (pictured).