Crescent Enterprises invests $68 M to expand CE-Creates, fueling global startup growth and innovation from the UAE to the world.
Crescent Enterprises, a UAE-based diversified business group, has announced a $68 million (AED 250 million) investment program to expand its venture-building arm, CE‑Creates.
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The move strengthens Crescent Enterprises’ mission to transform CE-Creates into a leading global hub for building and scaling high-growth startups from the MENA region and beyond.
The announcement also coincides with the appointment of Rakhel Fernando as the new Head of CE-Creates, underscoring Crescent’s commitment to innovation, talent, and long-term impact.
As a multi-sector venture-building platform, CE-Creates blends long-term capital, operational expertise, and access to global networks to turn early-stage ideas into scalable companies.
“The UAE has become a launchpad for ambitious entrepreneurs. Our shared vision is for it to be recognized as the world’s startup capital,” said Badr Jafar, CEO of Crescent Enterprises. “Through CE-Creates, we empower founders to transform their ambitions into impactful achievements that compete globally.”
Since its inception, CE-Creates has incubated several standout ventures:
- Kava & Chai: a café brand celebrating the region’s coffee and tea heritage
- ION: a sustainable mobility provider advancing eco-friendly transport
- BreakBread: a digital platform connecting communities through shared dining experiences
These examples reflect the platform’s focus on innovation, sustainability, and social value creation.
Tushar Singhvi, Deputy CEO and Head of Investments at Crescent Enterprises, emphasised, “The allocation of AED 250 million marks a defining milestone for CE-Creates and for the region’s entrepreneurial ecosystem. Our model combines disciplined capital deployment with direct operational support, a rare approach in traditional venture finance, creating the foundation for sustainable growth and global expansion.”
CE-Creates follows a stage-based model that progresses from idea validation to prototype development, market testing, and ultimately global scaling. Each phase is guided by performance metrics and milestones, ensuring market-fit, reducing risk, and accelerating time-to-market.
In his first remarks as Head of CE-Creates, Rakhel Fernando said, “Having founded and scaled companies from the ground up, I understand the challenges entrepreneurs face. At CE-Creates, founders gain access to capital, operational tools, and partnerships that enable them to scale confidently across regional and international markets.”
Fernando brings extensive entrepreneurial and operational experience, having served as:
- CEO of Yabi, an AI-driven personal-finance and financial-wellness platform
- Founder and CEO of Koko, a Buy-Now-Pay-Later consumer payments platform under Alibaba Group
- Managing Director at Daraz (Alibaba Group), where he led expansion across South Asia
This $68 million boost represents a defining moment for the MENA’s venture-building ecosystem. It supports hands-on venture creation, bridging a key gap for startups needing both capital and operational expertise to reach global scale.
It aligns with the UAE’s “The UAE: The World’s Startup Capital” campaign launched by the Ministry of Economy and Tourism, reinforcing the country’s leadership in entrepreneurship and innovation.
