At a Glance
UAE-based Crescent Enterprises’s venture capital platform CE Ventures has decided to double its VC investments in startups to AED 1 billion, roughly $272 million by 2022. Thus far, the venture capital wing has invested about AED 500 million ($136 million) in about 32 startups and VC funds across the Middle-East and North African region (Mena), in the US, India, and Southeast Asia.
Where do they invest?
Employing over 2600 people in 15 countries, CE Enterprises covers various sectors ranging from ports to logistics, power to food and beverage, and across verticals like private equity, venture capital, and business incubation, among others. CE-Ventures’ focus predominantly lies on emerging technologies in industries such as artificial intelligence (AI), the Internet of things (IoT), and robotics.
Following a market-driven investment, the venture capital aims high-growth potentials across various sectors in technology- namely the FinTech, EnergyTech, FoodTech, and enterprise SaaS companies. Today, global venture investments are on the rise, reaching AED 450 billion (a 50 percent increase quarter over quarter). CE Ventures’ investments in the recent past have also witnessed growth, especially in FinTech, where they made investments in about five FinTech startups in the Gulf region and globally, namely Tarbut Gateway, China Union Pay, Nerdwallet, Hippo Insurance, and Turtlemint.
According to Badr Jafar, CEO of Crescent Enterprises, CE Ventures’ aspirations to double their investments spoke volumes of their testament to their conviction in driving the significant social and economic impact of 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 intoBadr Jafar, CEO of Crescent Enterprises
CE-Ventures has so far extended support beyond funding by helping international start-ups expand into the MENA region and allow local start-ups to expand into global markets. Some of their investments in the Mena region include a state-of-the-art cloud kitchen platform Kitopi; an integrated cold chain logistics company providing last-mile temperature-controlled deliveries, Transcorp International; and Vezeeta, a global booking powerhouse that serves and empowers patients.
We are committed to investing in these emerging tech sub-sectors to support the rise of the latest transformative technologies that we can bring to the MENA region while helping regional entrepreneurs scale up their businesses.Tushar Singhvi, Deputy CEO & Head of Investments, Crescent Enterprises