Crescent Enterprises, the UAE-based diversified conglomerate, has announced a substantial investment of AED 250 million (approximately $68 million) to scale its venture-building platform, CE-Creates. This strategic move aims to bolster the company’s commitment to nurturing high-growth, impact-driven startups and positioning the UAE as a global hub for innovation.
CE-Creates operates as a sector-agnostic venture studio, providing early-stage startups with patient capital and hands-on operational support. The platform focuses on transforming promising ideas into scalable, internationally competitive businesses. Notable ventures incubated by CE-Creates include ION, a sustainable mobility provider; BreakBread, a digital supper club; and Kava & Chai, a specialty coffeehouse.
To spearhead this expansion, Crescent Enterprises has appointed Rakhil Fernando as the new head of CE-Creates. Fernando brings a wealth of experience in scaling startups and is tasked with accelerating the growth of the platform’s portfolio companies.
Badr Jafar, CEO of Crescent Enterprises, emphasised the company’s vision to establish the UAE as a leading startup ecosystem. He stated, “The UAE has become a launchpad for serious builders, and our collective vision is for the country to be known as the start-up capital of the world.”
With the infusion of AED 250 million and enhanced leadership, CE-Creates is poised to play a pivotal role in fostering innovation and entrepreneurship in the UAE. The platform’s expanded capabilities are expected to contribute significantly to the region’s economic diversification and global competitiveness.
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