The legacy GulfCap was founded in 2006 by Mr Jamil Qureshi, in an equal partnership with Mr Suleiman Shahbal, with an objective to carryout private-equity investments and managementof such private-equity assets following the completion of their acquisition process, or their establishment. The Group focused on the financial services, oil & gas and real estate sectors. In addition, the objective was to provide investment banking, financial advisory, management consultancy and corporate finance services. During 2007, a group of highly prestigious High-Net-Worth Individuals and Institutional Investors from the Kingdom of Bahrain, the Kingdom of Saudi Arabia and the Sultanate of Oman, joined the Founders of GulfCap as Strategic Shareholders, by subscribing to the share capital of the Holding Company. Subsequently, the Shareholders of the legacy GulfCap were also authorized by the DFSA (Dubai Financial Services Authority) in Dubai to operate as an Investment Banking Company in the name of "Gulf Investments Limited".

During 2006 though to 2010, the Group was instrumental in founding two Islamic Banks (Pakistan and Kenya), a Life Takaful (Pakistan), establishing a Car Leasing Company (India), acquiring the largest private sector oil and gas drilling company (headquartered in Abu Dhabi, UAE with operations with Aramco in Saudi Arabia and PDO in Oman), launching a mega mixed-use real estate development community (Sultanate of Oman), and providing the financial advisory, corporate finance and investment banking services to its Shareholders as well as various third-party clients. Following the restructuring of the Shareholders' interests in the legacy GulfCap towards the end of 2010, which resulted in the liquidation of Gulf Investments Limited, the management team re-launched the GulfCap Group ("GCG"), which included GulfCap Group FZ LLC and GulfCap Investments LLC, together with the various corporate entities within the UAE and Pakistan.

During 2017, GulfCap Group Limited was also established in London, with an objective to secure a Corporate Finance and Financial Advisory License from the Financial Conduct Authority ("FCA"). In summary, GCG is engaged in setting up business ventures through private-equity investments and providing business and financial advisory services mainly in the Gulf, South Asian and East African regions.