Dubai: Two UAE-based startup funding entities have decided to merge their portfolios. CE-Creates, part of the energy and logistics focussed Crescent Enterprises, and Abu Dhabi’s hatch & boost are the ones to do so.
The merged portfolio now includes, World of Farming (a fodder-tech solutions provider); ION (which is into sustainable transportation); BreakBread, a supper-club digital platform; Kava and Chai (a specialty coffeehouse); RE: (a feminine care platform); TipiT, (a digital token tipping app); and Shamal, a high-tech workwear brand.
“Last year, the UAE ranked first in the region for venture capital investments with a record Dh4.3 billion of investments in startups, and this trend is on an upward trajectory,” said Badr Jafar, CEO of Crescent Enterprises, which is based in Sharjah “We are also witnessing a pivot towards businesses that align their financial goals with their environmental and social impact, and our combined venture builder intends to be at the forefront of these positive trends.”
hatch & boost’s approach is to ‘fill gaps in early-stage startup development as well as de-risk early-stage investment’ by utilizing a shared pool of resources. This will eventually lower the startup capital cost.
By joining forces, we will empower exceptional local entrepreneurs and home-grown innovation to build strong, more impactful businesses to thrive in future economies
According to Faris Mesmar, CEO and Managing Partner of hatch & boost, “Together, we have what it takes to systemize and structure the startup building process in the region. We look forward to collectively building a competitive edge for our startups in order to solve some of the world’s most pressing environmental and social challenges.”
hatch & boost Ventures has plans for further expansion, namely in Saudi Arabia and Egypt.
