Sharjah’s CE-Ventures to increase its investments in startups to $272bn

By Amirtha P S, Desk Reporter
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The venture capital platform of Sharjah-based Crescent Enterprises, CE-Ventures is doubling its investments in startups to reach $ 272 million by 2022.

CE-Ventures has already invested over $136 million in 32 startups and VC funds across the Middle East & North Africa (MENA) region, the US, India, and Southeast Asia, since its inception in 2017.

Crescent Enterprises is a multinational company headquartered in the UAE. It operates under four platforms, CE-Operates, CE-Invests, CE-Ventures, and CE-Creates, which span across diverse sectors.

Badr Jafar
Badr Jafar
CEO – Crescent Enterprises

“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.”

CE-Ventures has invested in various sectors like fintech, energy-tech, food-tech, and enterprise SaaS (software-as-a-service) companies. Over the past few months itself, it has given funding support to global firms including Tarabut Gateway, Hippo Insurance, China Union Pay, Nerdwallet and Turtlemint.

According to PwC, 82 percent of traditional financial companies plan to boost collaboration with fintech in the next three to five years, highlighting the strong consumer appetite for digital banking globally.

Unlike institutional venture capital vehicles that raise external financing to make investments, CE-Ventures is a long-term partner for startups 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 by helping international startups grow into the MENA region and global markets. Investee companies under CE-Ventures have so far raised more than $1 billion of follow-on funding from top-tier venture funds globally.

Tushar Singhvi, Deputy CEO & Head of Investments, Crescent Enterprises, said “Despite the pandemic and ensuing economic slowdown, investee companies under CE-Ventures have continued to thrive. These companies also continue to make significant social and environmental contributions such as direct and indirect employment generation across their supply chains, skilling of employees, and empowering other local businesses through their innovative products and services.”

Related: Complete digital transformation will help boost Sharjah’s economic performance: Officials


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