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CE-Ventures acquires stake in Transcorp

CE-Ventures acquires stake in Transcorp
CE-Ventures on Monday announced that it has acquired a sizeable minority stake in Transcorp International

Dubai – Mubasher: CE-Ventures on Monday announced that it has acquired a sizeable minority stake in Transcorp International (Transcorp), one of the UAE’s most efficient logistics and last-mile distribution providers. 

The corporate venture capital arm of UAE-headquartered global conglomerate Crescent Enterprises targets supporting its expansion of Transcorp across the Middle East and North Africa (MENA).

“Speed and reliability in delivering services are the key metrics for this business. With its sharp focus on technology and customer satisfaction, Transcorp is a leader in cold chain last mile distribution and is well-positioned to seize growth opportunities resulting from the e-commerce and food delivery boom,” Tushar Singhvi, director of CE-Ventures, said.

The transaction is part of Crescent Enterprises’ strategic plans to invest an amount of AED 550 million ($150 million) through CE-Ventures in early- to late-stage startups over the coming three years.

About 50% of the total investments will be allocated for MENA.

“CE-Ventures’ strategy is to identify strong result-oriented founders and support them over the long term. We look forward to working with Transcorp to grow the business, enhance its service portfolio and increase its geographical footprint with the objective of establishing the company as the top provider of last-mile cold chain logistics solutions across the MENA region,” Singhvi added.

It is worth noting that CE-Ventures eyes a broad range of strategic domains from medical technology, artificial intelligence, and cybersecurity to food, energy-tech and supply chain tech.

The firm has invested about $46 million in 18 startup projects in the US, MENA and South-East Asia.