CE-Ventures acquires a stake in a UAE-based logistics company

CE-Ventures, the corporate venture capital arm of global conglomerate Crescent Enterprises announced that it has invested in Transcorp International (Transcorp), acquiring a sizable minority stake.

In case you’re wondering, Transcorp, is one of UAE’s most efficient logistics and distribution service providers. Through this investment, CE-Ventures aims to support the expansion of the company across the MENA region.

The investment is part of a strategic roadmap that will see Crescent Enterprises invest US$150 million (AED550 million) through CE-Ventures in early- to late-stage startups over the next three years. Fifty percent of the funds are earmarked for ventures from the Middle East and North Africa (MENA) region.

Tushar Singhvi, Director of CE-Ventures, commented on the investment saying: “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.”

He adds that the firm’s strategy is to identify and support some of the strong “result-oriented” founders. “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,” Tushar said.

Transcorp already has a well-established network across the UAE. Their next plans is to strengthen their presence in Saudi Arabia and other MENA countries, with the main focus to catering to the F&B industry. In addition, Transcorp intends to expand into fast-moving consumer goods (FMCG), which includes cosmetics and pharmaceuticals.

Rodrigue Nacouzi, CEO and founder of Transcorp, said: “The investment from CE-Ventures has provided us with the means to fast-track our expansion within the MENA region and introduce our service offering to other industries. Crescent Enterprises’ extensive logistics expertise will enable Transcorp to explore new markets and domains and achieve its goal of addressing the gaps in last-mile distribution services. As we seek to scale up our business, we believe CE-Ventures is the perfect partner for our next phase of growth.”

Transcorp provides a number of end-to-end solutions to their clients, including warehousing, transportation, and product distribution. They have their own order management platform that automates all of the processes and allows clients to live-track their orders and estimate their delivery time.

The venture capital firm, CE has already invested $46 million in 18 startups and VC funds across the US, MENA, and South-east Asia. The firm targets a broad range of strategic domains from medical technology, artificial intelligence, and cybersecurity to food, energy-tech and supply chain tech.

Some of their recent investments include the UAE’s Kitopi, India’s FreshtoHome, and Egypt’s Vezeeta.

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