Iran Investment Company

The firm is a subsidiary of Bank Melli Iran, the country's largest state-owned bank, which established IIC as an investment holding entity in 1998. Chairman Alinaghi Khamoushi has led the firm since its founding. The firm's governance extends beyond the banking system to state-linked foundations, including the Execution of Imam Khomeini's Order (Setad), which operates under the authority of the Supreme Leader's office.

The firm maintains a generalist mandate that covers direct equity stakes in industrial and petrochemical companies, commercial real estate assets, and infrastructure projects. Public records confirm a mixed-use development in Latakia, Syria, and an Airbus A321-200 aircraft leasing operation alongside domestic industrial holdings. The portfolio blends operating companies with hard assets.

The Execution of Imam Khomeini's Order (Setad) appears as a business partner entity linked to Iran Investment Company through shared investment projects and governance channels. Setad controls a massive portfolio of confiscated assets and state-directed investments across Iran, and the two entities coordinate on transactions that require alignment between the banking system and the Supreme Leader's financial apparatus.

Yes. The firm maintains a confirmed real estate development project in Latakia, Syria, and has historically operated cross-border vehicles such as the Pak-Iran Investment Company, which channels capital into Pakistani infrastructure and financial services in partnership with local institutions. Its aircraft leasing fleet also operates across international routes.

The firm sources the majority of its investments through equity transfers from Bank Melli Iran's loan-to-equity conversions and state privatization programs. Rather than competing in open auctions or venture pipelines, IIC receives assets from within the state banking ecosystem, giving it a captive origination model that outside asset managers cannot replicate.

IIC does not operate on a venture or growth-equity stage model. It primarily holds mature, established industrial and infrastructure assets that originate from Bank Melli Iran's balance sheet or state privatization programs. The firm functions as a permanent capital vehicle for existing assets rather than a fund that enters and exits positions on a defined timeline.

Bank Melli Iran, IIC's parent entity, has been subject to comprehensive sanctions designations by the U.S. Treasury Department and other international bodies. These designations directly affect the firm's ability to transact in dollars or access Western financial infrastructure. The firm's cross-border activities in Syria and its aircraft leasing operations operate outside the Western banking system.