Sunday, 9 May 2021 – 4:08 PM
SHARJAH, 9th May, 2018 (WAM) – Hilal Enterprises, the Crescent Enterprises platform, which specializes in institutional investment capital, announced its intention to double the volume of its investments in emerging companies to reach one billion dirhams (US $ 272 million) by 2022.
Since its inception in 2017, Crescent Enterprises has invested more than 500 million dirhams ($ 136 million) in 32 startups and venture capital funds across the Middle East, North Africa, the United States, India and Southeast Asia.
And Crescent Enterprises operates through four platforms: Crescent for Development Projects, Hilal for Investment Projects, Crescent for Emerging Projects, and Crescent for Innovative Projects, and its activities extend across a variety of sectors including ports, logistics, energy, engineering business, food and beverages, and sustainable transport in addition to other areas such as private equity and capital. Venture and business incubation.
Badr Jafar, CEO of Crescent Enterprises, emphasized that the company’s commitment to capital multiplication and investment in emerging projects is evidence of a firm belief in the important social and economic impact of technology-based and rapidly growing businesses.
In the past few months, Crescent Enterprises has invested in five fintech startups in the Gulf region and around the world.
Crescent Enterprises focuses on emerging and widespread technologies such as artificial intelligence, the Internet of Things, and robotics.
So far, Crescent Ventures portfolio companies have raised more than 3.6 billion dirhams (US $ 1 billion) in additional financing from major venture funds worldwide.
According to PwC, 82 percent of traditional financial companies plan to strengthen cooperation with the financial technology sector in the next three to five years, which confirms the strong consumer appetite for digital banking services worldwide and in the first quarter of 2021 they reached Global investments in startups are 450 billion dirhams, an increase of 50 percent on a quarterly basis and 100 percent on an annual basis, according to CrunchPace data.
Wam / Batoul Kashwani / Zakaria Mohieddin