Crescent to double its investments in start-ups to Dhs1b

DUBAI: Ce-ventures, the corporate venture capital plaform of Uae-based Crescent Enterprises, has announced that it is doubling its venture capital investments in start-ups to reach Dhs1 billion ($272 million) by 2022. Since its inception in 2017, Ce-ventures has already invested over Dhs500 million ($136 million) in 32 start-ups and VC funds across the Middle East & North Africa (Mena), the US, India, and Southeast Asia.

Crescent Enterprises is a multinational company headquartered in the United Arab Emirates. It operates under four plaforms: Ce-operates, Ce-invests, Ce-ventures, and Ce-creates, which span diverse sectors including ports and logistics, power and engineering, food & beverage, and green transport, and across verticals such as private equity, venture capital, and business incubation. Crescent Enterprises currently employs over 2,600 people in 15 countries. Commenting on the investment milestone, Badr Jafar, CEO of

Crescent Enterprises, said: “When we launched Ce-ventures a few years ago, we outlined our vision to invest in transformational, purposedriven entrepreneurs and their businesses. Our commitment to double down on new funds available for venture investment is testament to our conviction in the major social and economic impact of certain high-growth, tech-enabled businesses.”

“In furtherance of Crescent Enterprises’ digitization strategy, we will strive to continue to partner with brilliant entrepreneurs across the Mena region and elsewhere, especially where we can leverage our operational experience and global market presence to help them scale and thrive, creating jobs and opportunities for others to put their passions and skills into,” Jafar added.

Ce-ventures adopts a market-driven investment strategy leveraging the high-growth potential across various tech subsectors including

Fintech, Energytech, Foodtech, and Enterprise Saas companies. In the past few months alone, Ce-ventures invested in five Fintech start-ups in the Gulf region and globally, namely Tarabut Gateway, Hippo Insurance, China Union Pay, Nerdwallet, and Turtlemint. According to PWC, 82 per cent of traditional financial companies plan to boost collaboration with Fintechs in the next three to five years, underscoring the strong consumer appetite for digital banking globally.