Crescent Enterprises Invests $68 Million to Propel UAE-Born Startups onto the Global Stage

Crescent Enterprises, the UAE-based diversified conglomerate, has announced a $68 million (AED 250 million) investment to expand its venture-building platform, CE-Creates. The move, paired with the appointment of a new executive leader, signals more than a capital injection — it marks a strategic evolution aimed at building globally competitive startups rooted in the UAE.

CE-Creates: A Venture Studio Built on “Patient Capital”

Operating as a venture studio, CE-Creates takes a distinct approach from traditional venture capital (VC) models. Rather than just funding startups in specific rounds, it provides deep operational support and long-term “patient capital,” helping founders move from concept to fully validated businesses.

This model reflects the maturity of the UAE’s investment landscape, where investors are shifting from short-term bets to partnership-based growth. Unlike conventional VC funding, which tends to be hands-off after investment, the studio model de-risks ventures through stage-gated methodologies, ensuring product-market fit before scaling.

By embedding operational expertise, CE-Creates nurtures startups toward sustainable, international growth — something traditional funding often fails to achieve.

From Launchpad to Global Startup Capital

The initiative underscores Crescent Enterprises’ alignment with the UAE’s national vision to position itself as a global startup capital.

“Our collective vision is for the UAE to be recognized as the world’s startup capital,” said Badr Jafar, CEO of Crescent Enterprises. “Through CE-Creates, we aim to help founders transform purpose into performance — proven locally and competitive globally.”

The company’s vision aligns closely with the UAE Ministry of Economy and Tourism’s ongoing campaign, “UAE: The Global Capital of Startups,” as the country retained its #1 global ranking for entrepreneurship in the Global Entrepreneurship Monitor (GEM) 2024–2025 report for the fourth consecutive year.

New Leadership with a Proven Track Record

To drive the next phase of growth, Crescent Enterprises appointed Rakhel Fernando as the new head of CE-Creates. A seasoned entrepreneur and venture builder, Fernando brings hands-on experience from leading and scaling major tech ventures across emerging markets.

His portfolio includes leadership roles as CEO of the AI-driven personal finance platform Yabi, and spearheading Koko, a “Buy Now, Pay Later” fintech under Alibaba Group, expanding across South Asia. He also played a key role in growing Daraz, Alibaba’s e-commerce arm in the region.

“With firsthand experience building companies from the ground up, I understand the hurdles founders face,” Fernando said. “At CE-Creates, entrepreneurs can build with confidence — backed by capital, operational expertise, and partnerships that unlock regional and global potential.”

A Purpose-Driven Portfolio

CE-Creates maintains a sector-agnostic approach, focusing on impact-driven ventures that combine profitability with purpose. Its current portfolio spans technology, sustainability, and consumer innovation, featuring companies such as:

• Kava & Chai: A cultural concept celebrating the heritage of coffee and tea.

• ION: A sustainable mobility company developing electric transport solutions.

• BreakBread: A digital food experience platform centered on community.

From sustainable mobility to fintech and consumer experiences, CE-Creates exemplifies Crescent Enterprises’ “purpose-driven investment” philosophy — combining innovation, sustainability, and inclusive growth.