By Gulf New Staff Report / Gulf News - Image Credit: Crescent Enterprises
SOURCE: Gulf News - Crescent launches $150m corporate venture capital arm
Dubai: UAE-based Crescent Enterprises has launched a venture capital arm with plans to invest $150 million (Dh551 million) over the next three years.
Crescent Enterprises CEO Badr Jafar announced the new arm at the Sharjah Entrepreneurship Festival held at the Sharjah Golf and Shooting Club on Tuesday.
Jafar said the fund would focus on strategic direct investments in early-to-later stage start-ups worldwide. The firm said in a press statement that half the fund would be allocated to firms in the Middle East and North Africa (Mena).