CE-Ventures, the venture capital arm of Sharjah-based conglomerate Crescent Enterprises, plans to invest Dh1 billion ($272 million) in start-ups by 2022.
The company has invested more than Dh500m in 32 start-ups and VC funds across the Middle East and North Africa region, the US, India and South-East Asia since its inception in 2017.
“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,” Badr Jafar, chief executive of Crescent Enterprises, said.
“We will strive to continue to partner with brilliant entrepreneurs across the Mena region and elsewhere … especially where we can leverage our operational experience and global market presence to help them scale and thrive, creating jobs and opportunities.”
CE-Ventures has invested in various sectors such as FinTech, EnergyTech, FoodTech and Enterprise SaaS (software-as-a-service) companies. Over the past few months, it has amassed stakes in companies including Tarabut Gateway, Hippo Insurance, China Union Pay, Nerdwallet and Turtlemint.
Venture capital investments are growing as companies tap into post-pandemic opportunities. Globally, VC investments in the first quarter of this year grew 94 per cent annually to $125bn , according to Crunchbase data.
Unlike institutional VC vehicles that raise external funds to make investments, CE-Ventures works as a partner with start-ups and invests its own capital across various stages of growth with a focus on early- to growth-stage companies, the company said.
It also helps global companies to expand into the Mena region and local start-ups to venture into overseas markets. Investee companies under CE-Ventures have so far raised more than Dh3.6bn of follow-on funding from top-tier venture funds globally.
“Despite the pandemic and ensuing economic slowdown, investee companies under CE-Ventures have continued to thrive,” Tushar Singhvi, deputy chief executive and head of investments at Crescent Enterprises, said.
Crescent Enterprises, which operates under four platforms – CE-Operates, CE-Invests, CE-Ventures and CE-Creates – is present in diverse sectors such as ports and logistics, power and engineering, food and beverage and green transport. It works across different verticals including private equity, venture capital and business incubation.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Grand Slam Los Angeles results
Men:
56kg – Jorge Nakamura
62kg – Joao Gabriel de Sousa
69kg – Gianni Grippo
77kg – Caio Soares
85kg – Manuel Ribamar
94kg – Gustavo Batista
110kg – Erberth Santos
Women:
49kg – Mayssa Bastos
55kg – Nathalie Ribeiro
62kg – Gabrielle McComb
70kg – Thamara Silva
90kg – Gabrieli Pessanha
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
UNpaid bills:
Countries with largest unpaid bill for UN budget in 2019
USA – $1.055 billion
Brazil – $143 million
Argentina – $52 million
Mexico – $36 million
Iran – $27 million
Israel – $18 million
Venezuela – $17 million
Korea – $10 million
Countries with largest unpaid bill for UN peacekeeping operations in 2019
USA – $2.38 billion
Brazil – $287 million
Spain – $110 million
France – $103 million
Ukraine – $100 million
RESULTS
Manchester United 2
Anthony Martial 30'
Scott McTominay 90 6'
Manchester City 0
Apple%20Mac%20through%20the%20years
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How being social media savvy can improve your well being
Next time when procastinating online remember that you can save thousands on paying for a personal trainer and a gym membership simply by watching YouTube videos and keeping up with the latest health tips and trends.
As social media apps are becoming more and more consumed by health experts and nutritionists who are using it to awareness and encourage patients to engage in physical activity.
Elizabeth Watson, a personal trainer from Stay Fit gym in Abu Dhabi suggests that “individuals can use social media as a means of keeping fit, there are a lot of great exercises you can do and train from experts at home just by watching videos on YouTube”.
Norlyn Torrena, a clinical nutritionist from Burjeel Hospital advises her clients to be more technologically active “most of my clients are so engaged with their phones that I advise them to download applications that offer health related services”.
Torrena said that “most people believe that dieting and keeping fit is boring”.
However, by using social media apps keeping fit means that people are “modern and are kept up to date with the latest heath tips and trends”.
“It can be a guide to a healthy lifestyle and exercise if used in the correct way, so I really encourage my clients to download health applications” said Mrs Torrena.
People can also connect with each other and exchange “tips and notes, it’s extremely healthy and fun”.
The biog:
From: Wimbledon, London, UK
Education: Medical doctor
Hobbies: Travelling, meeting new people and cultures
Favourite animals: All of them
