- Strategic Investment: $68 million (AED 250 million) allocated to accelerate venture creation and scaling in the UAE and globally.
- Leadership Appointment: Rakhel Fernando joins as Head of CE-Creates, bringing proven experience from Yabi, Koko, and Daraz (Alibaba Group).
Structured Venture Model: A four-stage approach combining capital, operational expertise, and market access to turn ideas into scalable global businesses.
Crescent Enterprises, a UAE-based diversified business group, announced the launch of a $68 million (AED 250 million) investment program to expand the scope and impact of its venture-building platform, CE-Creates. The new funding marks a strategic step toward establishing the platform as a leading hub for building and scaling high-growth ventures with a global footprint.
The announcement coincides with the appointment of Rakhel Fernando as the new Head of CE-Creates, reflecting the company’s ambition to accelerate the creation of globally competitive startups that deliver long-term value and sustainable impact.
As a multi-sector venture-building platform, CE-Creates combines long-term capital, operational expertise, and access to global business networks to transform early-stage ideas into scalable, internationally competitive companies. The initiative strengthens Crescent Enterprises’ position as a key driver of entrepreneurship and innovation across the MENA region and beyond.
Commenting on the announcement, Badr Jafar, CEO of Crescent Enterprises, stated:
“The UAE has become a global launchpad for ambitious entrepreneurs. Our shared vision is for it to be recognized as the world’s startup capital. Through CE-Creates, our venture-building platform, we empower founders to transform their ambitions into impactful achievements that compete on a global level.”
Over the years, CE-Creates has successfully incubated a range of innovative ventures, including:
Kava & Chai – celebrating the region’s rich coffee and tea heritage through contemporary café experiences.
ION – a sustainable mobility solutions provider advancing eco-friendly transportation.
BreakBread – a digital platform connecting communities through shared dining and curated food experiences.
Tushar Singhvi, Deputy CEO and Head of Investments at Crescent Enterprises, emphasized the strategic importance of the new investment:
“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 an environment for sustainable growth and international expansion.”
CE-Creates follows a structured, stage-based model that progresses from idea validation to prototype development, market testing, and eventually global scaling. Each stage is evaluated through clear performance indicators and milestones, ensuring market fit, reducing risk, and accelerating growth.
In his first remarks as Head of CE-Creates, Rakhel Fernando commented:
“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 experience in entrepreneurship and operational leadership, having held senior roles in global technology and financial ventures. Before joining Crescent Enterprises, he served as CEO of Yabi, a leading AI-driven personal finance and financial-wellness platform, and as Founder and CEO of Koko, one of the region’s leading “Buy Now Pay Later” and consumer-payments platforms under Alibaba Group. He also served as Managing Director at Daraz (Alibaba Group), where he led the platform’s expansion to become one of South Asia’s largest e-commerce players.
This initiative underscores Crescent Enterprises’ commitment to innovation, sustainability, and inclusive growth, aligning with the UAE’s vision to strengthen its global position as a center for entrepreneurship and digital transformation. It also supports the national campaign launched by the Ministry of Economy and Tourism under the theme “The UAE: The World’s Startup Capital”, which highlights the country’s leadership in fostering startups and SMEs.
Notably, the UAE ranked first globally for the fourth consecutive year in the Global Entrepreneurship Monitor (GEM) 2024–2025 report, recognized as the world’s top destination for entrepreneurship among 56 economies, reflecting its strong policies and investor-friendly ecosystem.
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