Crescent Enterprises commits to doubling its investments in start-ups to AED 1 billion by 2022
CE-Ventures, the corporate venture capital platform of UAE-based Crescent Enterprises, is doubling its venture capital investments in start-ups to reach AED 1 billion by 2022. The company has already invested over AED 500 million in 32 start-ups and VC funds across the Middle East & North Africa (MENA), the US, India, and Southeast Asia.
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.
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, purpose-driven 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.”
According to PwC, 82 percent 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. In Q1 2021, global venture investments reached AED 450 billion, achieving a 50 percent increase quarter over quarter and 94 percent increase year over year, according to Crunchbase data.
According to a statement from the company, the company is looking to invest in emerging tech subsectors such as BioTech and DeepTech to support the rise of latest transformative technologies that CE Ventures can bring to the MENA region, while helping regional entrepreneurs scale up their businesses.
Unlike institutional venture capital vehicles that raise external financing to make investments, CE-Ventures is a long-term partner for start-ups and entrepreneurs globally, investing its own capital across various stages of growth with a focus on early to growth stages. CE-Ventures extends its support beyond funding, helping international start-ups expand into the MENA region, and likewise helps local start-ups expand into global markets. Investee companies under CE-Ventures have so far raised more than AED 3.6 billion of follow-on funding from top-tier venture funds globally.
Crescent Enterprises operates under four platforms: CE-Operates, CE-Invests, CE-Ventures, and CE-Creates, covering 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.