UAE Business: Sharjah’s Crescent Enterprises aims to invest Dh1bn in start-ups by 2022!

Crescent Enterprises’ venture capital arm, CE-Ventures, has set a target of investing Dh1 billion ($272 million) in start-ups by 2022. Since its founding in 2017, the industry has spent more than Dh500 million in 32 start-ups and venture capital funds across the Middle East and North Africa, the United States, India, and Southeast Asia. Crescent Enterprises CEO Badr Jafar said, “Our pledge to double down on new funds available for venture investment is testament to our belief in the major social and economic effect of such high-growth, tech-enabled businesses.” “We will continue to work with brilliant entrepreneurs in the Mena region and elsewhere… particularly where we can use our operational expertise and global market reach to help them scale and prosper, thereby creating jobs and opportunities.”

CE-Ventures has made investments in companies in a variety of industries, including FinTech, EnergyTech, FoodTech, and Enterprise SaaS (software-as-a-service). Tarabut Gateway, Hippo Insurance, China Union Pay, Nerdwallet, and Turtlemint are among the companies in which it has invested in recent months. “We will continue to work with brilliant entrepreneurs in the Mena region and elsewhere… particularly where we can use our operational expertise and global market reach to support them scale and prosper, thereby creating jobs and opportunities.” CE-Ventures has made investments in companies in a variety of industries, including FinTech, EnergyTech, FoodTech, and Enterprise SaaS (software-as-a-service).

Tarabut Gateway, Hippo Insurance, China Union Pay, Nerdwallet, and Turtlemint are among the companies in which it has invested in recent months. As businesses seek to capitalize on post-pandemic opportunities, venture capital investments are increasing. According to Crunchbase numbers, VC investments increased by 94 percent annually to $125 billion in the first quarter of this year.