Cres­cent En­ter­prises Launches $150M Cor­po­rate Ven­ture Cap­i­tal Divi­sion

Arabnet - The Quarterly - - Industry Stories -

Cres­cent En­ter­prises launched a cor­po­rate ven­ture cap­i­tal arm last week, with plans to in­vest $150M over the next three years, mak­ing it one of the largest cor­po­rate ven­ture units in the MENA. Over the years, Cres­cent En­ter­prises has made strate­gic in­vest­ments in funds such as the Abraaj Group, Growth­gate Cap­i­tal, Wamda Cap­i­tal, and TVM Health­care, to name a few. The Com­pany also launched in-house in­cu­ba­tor, Ce-ven­tures, which is com­mit­ted to in­cu­bat­ing fi­nan­cially-sus­tain­able and so­cially-con­scious busi­nesses. This new ven­ture cap­i­tal arm, CE-VC will fo­cus on strate­gic direct in­vest­ments in early to later-stage start-ups across the world. Along with the an­nounce­ment, Badr Ja­far said: “Over the years, Cres­cent En­ter­prises has in­vested in a num­ber of high-growth sec­tors from ports and lo­gis­tics to health­care, rec­og­niz­ing the strong busi­ness case to di­ver­sify. We have also been qui­etly ac­tive in the cor­po­rate ven­ture cap­i­tal space. In fact, over the past two years, we have made one in­vest­ment ev­ery month on av­er­age. In the last six months alone, we have in­vested in a wide range of start-ups from a Sil­i­con Val­ley-based drone com­pany for the in­dus­trial sec­tor and ro­botic surgery tech­nolo­gies, to an e-com­merce plat­form for fish­eries in In­dia. We also seeded en­trepreneur grad­u­ates from the Amer­i­can Univer­sity of Shar­jah who are de­vel­op­ing an ar­ti­fi­cial in­tel­li­gence project man­age­ment sys­tem.” With ex­ist­ing op­er­a­tions in sec­tors in­clud­ing ports and lo­gis­tics, power and engi­neer­ing, busi­ness avi­a­tion and health­care, and span­ning across sev­eral mar­kets and em­ploy­ing over 4,500 peo­ple, Cres­cent En­ter­prises is the di­ver­si­fied sub­sidiary of Cres­cent Group, one of the most pro­gres­sive fam­ily busi­ness groups in the re­gion that has been ac­tively con­tribut­ing to the eco­nomic land­scape of the MENA re­gion for over 45 years.

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