Marking the first-ever portfolio merger of two venture builders in the region, CE-Creates has completed the merger of its portfolio of startups with hatch & boost, an Abu Dhabi-based venture-builder dedicated to ‘hatching’ startup ideas at the intersection of impact and innovation, and boosting them into scalable ventures.
Hatch & boost and CE-Creates aim to jointly advance the growth of impact-driven startups in the Middle East and North Africa (MENA) region, while introducing unique models of building, and scaling them.
The partnership, operating under the new name hatch & boost Ventures, will see the acceleration and growth of seven portfolio start-ups this year, which span across agritech, sustainable mobility, femtech, foodtech, fintech, among other sectors. The merged portfolio currently includes, World of Farming, a foddertech solutions provider; ION, a sustainable transportation provider; BreakBread, a supperclub digital platform; Kava and Chai, a specialty coffeehouse; RE:, a feminine care platform; TipiT, a digital token tipping application; and Shamal, a high-tech workwear brand. Driven by sustainable and social impact, hatch & boost Ventures will be working to further establish and scale up to five new start-ups per year.
“Today, our biggest opportunity lies where impact and profit are viewed as equally imperative to the success of any startup. The merger of our portfolio of startups with CE-Creates is an incredible opportunity for us to drive ESG practices forward in the region, by enhancing our ability to launch and scale sustainable ventures across a number of sectors. This is a major milestone for us, as well as a testament to the validation of the successful model we have built,” said Faris Mesmar, CEO and Managing Partner of hatch & boost. “We share similar investment objectives with CE-Creates and, 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.”
The newly joint venture-builders have long operated with a commitment to embedding the United Nations’ Sustainable Development Goals throughout their processes. Also, in line with the UAE’s ambitions to become a global hub of sustainable economic development, Crescent Enterprises partners with innovative and purpose-driven entrepreneurs, creating the infrastructure and environment for new businesses to thrive, which in turn increases the economic competitiveness of the region. The announcement of the merger with hatch & boost, for the formation of hatch & boost Ventures, is a further step towards achieving this vision.
Headquartered in the UAE, hatch & boost Ventures has plans for further expansion across the region in the coming years, namely in markets such as the Kingdom of Saudi Arabia (KSA) and Egypt.
