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Reflecting a portfolio that’s diversified over time, we bring together a team of analysts, lawyers, financiars, and tech experts to steward our family’s legacy and wealth while making a lasting difference to the communities we serve.

A trusted bridge between tradition and innovation, Capital 38 enables prosperity with purpose.

Our Story

Black and white illustration of four men wearing traditional head coverings, depicted from the shoulders up, arranged in two rows against a white background.

1938

To trace our origins, you need to go back to the year which gives us our name. From a small village South of Taiz in Yemen, four brothers from the Saeed Anam family founded a single retail shop in Aden – laying the foundation for one of the most prominent businesses in the region.

Sepia-toned drawing of a coastal city surrounded by mountains, with ships anchored in the harbour and buildings densely clustered near the shore.

1952

Solidifying our foundation for sustained growth, this milestone marks our recognition as a dynamic business partnership uniting two generations of leadership.

A modern white entrance gate with the logo “YCIC” and Persian text, with a small security kiosk and glass windows underneath, set against a blue sky.

1970

The family founded the Yemen Company for Industry and Commerce (YCIC), the first industrial venture in Taiz. Launched with just two production lines dedicated to biscuits and confectionery, it now operates five state-of-the-art factories and employs thousands of workers.

A cityscape at sunset shows the Museum of the Future, a torus-shaped building with Arabic calligraphy, surrounded by skyscrapers and a road with moving cars in Dubai, UAE.

1974

Launched Frimex Company LLC in Dubai. It now has operations in Saudi Arabia, UAE, India, and beyond.

The Houses of Parliament and Big Ben in London are seen at sunset, with Westminster Bridge and a red double-decker bus in the foreground.

1977

To better serve an increasingly international family, the company establishes a London base under the name Longulf Trading. The timing proves to be transformational, with rising prices for prime London real estate powering a new era of growth for the family.

1978

KSA Operations is launched.

A large white and blue buildings.

1988

The family business expands into South East Asia, Malaysia, and Indonesia.

Aerial view of an industrial facility with white storage silos, a lorry, landscaped lawns, and surrounding roads.

1992

Our operations in Cairo launch.

Aerial view of a city with dense high-rise buildings, centred around a tall building with a circular rooftop helipad.

2020

The company is now a modern wealth management organisation with influence and interests across the globe. Following a restructuring of the HSA Group, the Capital 38 brand is established to focus exclusively on the family’s wealth management requirements.

Black and white illustration of four men wearing traditional head coverings, depicted from the shoulders up, arranged in two rows against a white background.

1938

To trace our origins, you need to go back to the year which gives us our name. From a small village South of Taiz in Yemen, four brothers from the Saeed Anam family founded a single retail shop in Aden – laying the foundation for one of the most prominent businesses in the region.

Sepia-toned drawing of a coastal city surrounded by mountains, with ships anchored in the harbour and buildings densely clustered near the shore.

1952

Solidifying our foundation for sustained growth, this milestone marks our recognition as a dynamic business partnership uniting two generations of leadership.

A modern white entrance gate with the logo “YCIC” and Persian text, with a small security kiosk and glass windows underneath, set against a blue sky.

1970

The family founded the Yemen Company for Industry and Commerce (YCIC), the first industrial venture in Taiz. Launched with just two production lines dedicated to biscuits and confectionery, it now operates five state-of-the-art factories and employs thousands of workers.

A cityscape at sunset shows the Museum of the Future, a torus-shaped building with Arabic calligraphy, surrounded by skyscrapers and a road with moving cars in Dubai, UAE.

1974

Launched Frimex Company LLC in Dubai. It now has operations in Saudi Arabia, UAE, India, and beyond.

The Houses of Parliament and Big Ben in London are seen at sunset, with Westminster Bridge and a red double-decker bus in the foreground.

1977

To better serve an increasingly international family, the company establishes a London base under the name Longulf Trading. The timing proves to be transformational, with rising prices for prime London real estate powering a new era of growth for the family.

1978

KSA Operations is launched.

A large white and blue buildings.

1988

The family business expands into South East Asia, Malaysia, and Indonesia.

Aerial view of an industrial facility with white storage silos, a lorry, landscaped lawns, and surrounding roads.

1992

Our operations in Cairo launch.

Aerial view of a city with dense high-rise buildings, centred around a tall building with a circular rooftop helipad.

2020

The company is now a modern wealth management organisation with influence and interests across the globe. Following a restructuring of the HSA Group, the Capital 38 brand is established to focus exclusively on the family’s wealth management requirements.

A global footprint connecting East and West

Capital 38 operates across the UK, Europe, the USA, Canada, Southeast Asia, and the Middle East, as well as North and East Africa. This international presence – coupled with our deep ties in emerging markets, vast personal networks, and access to London financial talent – allows us to source opportunities all over the world.