JOURNEY
Mustang Security was launched in 1998 and has subsequently grown to become one of the largest security companies in Pakistan offering static guarding, cash in transit and other security services. Read more
Ithaca Capital is a privately held investment holding company and a manager of third-party private equity funds. Read more
2004
OPTIMUS FOUNDED
Optimus Limited has been operating as the exclusive licensee of Hertz in Pakistan since 2005 and is the largest limousine and rent-a-car company operating out of 9 offices across 5 major cities. Read more
In 2005, Ithaca seeded the development of Pakistan’s first multiplex as a founding investor in Cinepax Limited. It is now the largest cinema chain nationwide. Read more
2006
MUSTANG HRMS
FOUNDED
Mustang HRMS was launched in 2005; it functions as a provider of skilled and unskilled manpower. Read more
2007
RED TOP CAB FOUNDED
In 2007, Ithaca invested in Red Top Cab, a taxi-cab service based out of Karachi. Read more
2008
MUSTANG EYE
FOUNDED
The company was established in 2008 to provide vehicle tracking services and to augment the range of services provided by Mustang Pakistan. Read more
BUSINESS DAY
NEWSPAPER LAUNCHED
Ithaca invested in Business Day, a financial broadsheet, in 2008 to capitalize on the booming capital markets at that time. Read more
Ithaca Capital was part of a consortium that acquired Daewoo Pakistan that today provides long-distance passenger bus transportation services to over 50 cities across 3 provinces along and intra-city bus transportation services in Lahore and Multan. Read more
2013
ACQUISITION OF
HABIBULLAH COASTAL
POWER COMPANY
Ithaca Capital led a consortium to buy out a majority stake of HCPC from Kinder Morgan (a US Energy company) and subsequently acquired the remaining stake from legacy shareholders. Read more
2015
ACQUISITION OF
HAWA ENERGY
In May 2015, Ithaca purchased a stake in Hawa Energy, a development stage 50MW wind based renewable energy project. Ithaca took the project to financial close. Read more
Provides safe, comfortable and convenient local transport in 5 cities with a fleet of 150 cars. Read more
2016
INVESTMENT IN
BYKEA TECHNOLOGIES
Bykea is the market leader in ride-hailing for motorcycles whilst also providing hyper-local logistics services. Ithaca seeded Bykea Technologies in 2016. Read more
Optimus Technologies was founded with the intent to leverage the fleet strength at Optimus Limited, the official licensee of Hertz in Pakistan. Read more
2017
ACQUISITION OF KIDCO
Kidco was founded in 1996 and within a short span developed into the 2nd largest baby care business in Pakistan. Read more
LAUNCH OF ITHACA
CAPITAL MANAGEMENT
The company will launch and manage Pakistan focused private equity funds.It is currently in the process of completing negotiations with its cornerstone investors. Read more
2019
ACQUISITION OF
RAVI AUTO MOBILE
Kidco was founded in 1996 and within a short span developed into the 2nd largest baby care business in Pakistan. Read more
2020
SALE OF HCPC