Crescent Enterprises

Crescent Enterprises is a multinational company headquartered in the United Arab Emirates. It operates through four platforms: CE-Operates, CE-Invests, CE-Ventures, and CE-Creates across several sectors including ports & logistics, business aviation, power & engineering, healthcare, private equity, venture capital, business incubation, food & beverage, and sustainable mobility.

Crescent Enterprises
IndustryConglomerate
Area served
Worldwide
Key people
Badr Jafar
(Chief Executive Officer)
Products
Websitecrescententerprises.com

CE-Operates holds the operating subsidiaries and affiliates; CE-Invests manages the private equity and other alternative investments; CE-Ventures engages in corporate venture capital investments in early- to late- stage startups with a focus on the MENA (Middle East and North Africa) region, and CE-Creates conceives and launches businesses with a social impact.[1] Crescent Enterprises employs over 3,000 people in 22 subsidiaries and affiliates across 15 countries.[2]

Crescent Enterprises is a subsidiary of the Crescent Group, a family business group operating in the MENA region since 1971. Crescent Group's other subsidiary, Crescent Petroleum, is the first and the largest indigenous, privately-owned upstream oil and gas company in the Middle East.[3][4]

History

Crescent Enterprises was founded in 2007 as a subsidiary of the Crescent Group. For the first seven years, it operated under three divisions focusing on core subsidiary industries, investments, and venture capital. In 2014, a fourth division, CE-Creates was formed to focus on developing new businesses internally.

Corporate overview

Crescent Enterprises operates through four platforms:

  1. CE-Operates
  2. CE-Invests
  3. CE-Ventures
  4. CE-Creates

CE-Operates

CE-Operates manages affiliates and operating subsidiaries in core sectors such as ports & logistics, power & engineering, and business aviation. Affiliates and subsidiaries include the Gulftainer Group, Momentum Logistics, and Uruk Engineering & Contracting.

SubsidiaryDescription
GulftainerGulftainer Group, established in 1976 in the UAE, is the world's largest privately owned, independent port management company, operating in nine countries across five continents and handling over six million TEUs (twenty-foot equivalent).[5] The company established the Sharjah Container Terminal at Port Khalid, the first container terminal in the Middle East, and operates Khorfakkan Container Terminal. In 2014, Gulftainer became the first and only Middle Eastern port operator with a strategic presence in the Americas, with a 35-year concession at Florida's Port Canaveral. In March 2018, Gulftainer announced winning a 50-year concession to operate its second US port in Wilmington, Delaware.[6]
Momentum LogisticsMomentum Logistics is a wholly owned subsidiary of Gulftainer. It provides transportation, freight forwarding, warehousing, and logistics.[7]
Uruk EngineeringUruk Engineering & Contracting specialises in engineering, procurement and construction (EPC) with projects ranging from power, oil and gas, petrochemicals, waste water and infrastructure. The company has executed over USD 800 million worth of projects in the Iraqi power sector since 2010, providing electricity to more than 100,000 homes. Uruk is the first EPC contractor to complete an Iraqi Ministry of Electricity Fast Track project, executing the 724 MW and USD 540M power plant project in El Mansouria in partnership with Alstom.[8]

CE-Invests

CE-Invests is the strategic investments platform which maintains a portfolio of alternative asset class investments, including private equity, real estate and other structured investments. Its portfolio includes: Growthgate Capital, TVM Capital Healthcare Partners, FIM-IBC MENA Real Estate Opportunities Fund, Siraj Palestine Fund I, Gama Aviation PLC, and Samena Limestone Holdings, a consortium of investors who acquired over 30% of Ras Al Khaimah (RAK) Ceramics.[9][10]

CE-Ventures

CE-Ventures is the corporate venture capital platform focused on investing in early- to late-stage technology-enabled start-ups globally. In November 2017, CE-Ventures announced plans to invest up to USD 150 million (AED 550 million) over three years till 2020, making it one of the largest corporate venture units in the Middle East and North Africa.[11] CE-Ventures has a goal of deploying 50% of the funds in ventures within the MENA region. As of 2019, CE-Ventures has invested in 20 start-ups and venture capital funds across the US, India, MENA, and South-East Asia, including:

  • ColubrisMX Inc, which is developing a "minimally invasive", microsurgical device that can treat conditions such as fetal malformations and brain abnormalities.[12]
  • XCath Inc, which is developing steerable robotic micro catheters for treating endovascular conditions such as cerebral strokes.
  • Freshtohome, an Indian meat and fish e-commerce company.[13]
  • Other investments in capital funds.

Corporate Governance

The company is a founding partner of the Pearl Initiative, a member of the United Nations Global Compact, and a signatory of the United Nations Women's Empowerment Principles Equality Means Business. The company is also a member of several World Economic Forum's (WEF) initiatives including Global Future Councils, Partnering Against Corruption initiative, and the WEF’s MENA Regional Business Council, and the WEF's Family Business Community.[14]

See also

References
  1. "Crescent Enterprises in TVM Capital MENA's $50m Healthcare Fund". Zawya. Zawya. 22 May 2012. Retrieved 8 July 2012.
  2. "Crescent Enterprises Taps into Africa's USD 75bn E-Commerce Sector with Strategic Investment in Mara Group". 21 June 2016. Retrieved 3 July 2016.
  3. "Strong governance to boost resilience of Mena economies". GulfToday. Retrieved 3 July 2016.
  4. "Crescent launches $150m venture capital division". Saudi Gazette. Retrieved 9 March 2018.
  5. "Gulftainer docks the largest UASC vessel in the region". Arabian Supply Chain. Zawya. 14 March 2012. Retrieved 8 July 2012.
  6. "Gulftainer chief promises jobs as board gives blessing to port privatization effort". Delaware Online. Retrieved 8 April 2018.
  7. "Momentum Logistics celebrates 10th anniversary". Construction Business News. Retrieved 18 September 2019.
  8. "UAE Uruk opens Taji Power Plant Project". Zawya. Zawya. 27 May 2012. Retrieved 8 July 2012.
  9. "Siraj Fund Management Company signs $30 million financing agreement with OPIC". Zawya. Zawya. 22 May 2010. Retrieved 8 July 2012.
  10. "GrowthGate Acquires Part of Saudi Food Services Company "International Foods"". Zawya. Zawya. 10 October 2010. Retrieved 8 July 2012.
  11. "UAE'S CE Ventures Plans To Invest $150 Million by 2020". InvestSize. Retrieved 30 September 2019.
  12. "Crescent Enterprises' Venture Capital Arm Closes Investment In US-Based MedTech Startups". Retrieved 9 March 2018.
  13. "Crescent Enterprises plans at least three VC investments next year". The National. Retrieved 9 March 2018.
  14. "Succession failure". The Economist. Retrieved 30 June 2016.
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