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CE-Ventures joins Series A for Alzheimer’s drug developer
CE-Ventures, the VC arm of Sharjah’s Crescent Enterprises, backed London-based Oyster Therapeutics in a USD 60 mn Series A round, joining pharma major Eli Lilly and specialist backer 4BIO Capital, according to a press release (pdf). The round will fund clinical trials for Oyster’s lead drug candidate, an oral targeted protein degrader targeting tau-driven neurodegenerative diseases like Alzheimer’s.
Portfolio, with an exit: CE-Ventures already co-led biotech CrossBridge Bio’s seed round in 2024 for next-gen antibody-drug conjugates, with Eli Lilly later acquiring the company in April 2026. “Oyster meets the same core criteria: a clearly defined target, strong scientific evidence supporting its causal role in disease, and the potential to address a significant unmet medical need,” Damir Illich, vice president of Life Sciences at CE-Ventures, tells EnterpriseAM. He will join Oyster’s board as an observer, representing CE-Ventures.
What’s next: CE-Ventures expects to remain active across biotechnology, frontier technology, fintech, and consumer businesses over the next 12-24 months, with particular interest in AI, advanced energy, data and analytics, and financial infrastructure, says Illich.
Multipolitan bags USD 2 mn at a punchy USD 25 mn cap
UAE-based mobility tech startup Multipolitan raised USD 2 mn in pre-seed funding led by Singapore-based venture studio EmergentX, according to a press release. The round gave it a pre-money valuation of USD 25 mn.
Multipolitan’s plan: The ADGM-headquartered firm is now preparing to launch its consumer platform for managing international travel and relocation this December. It’s also planning to expand its team, which is currently based across the UAE, Singapore, and India. The platform will manage tasks like passport requirements, document expiry alerts, and residency monitoring to comply with immigration rules.
Shorooq is putting down roots where the money is
Abu Dhabi-based investment firm Shorooq is taking its Qatar expansion from fundraising to a physical presence, securing initial regulatory approval to establish an advisory business in Doha, according to a Qatar Financial Centre (QFC) statement. Shorooq Doha Advisory Services received preliminary authorization from the QFC Regulatory Authority, adding Qatar to the firm's regional footprint alongside Riyadh, Bahrain, and Cairo. A timeline for beginning operations wasn’t disclosed.
REMEMBER- The firm has already secured backing from Qatar’s biggest investor: Shorooq launched a USD 200 mn late-stage growth fund in February, backed by the Qatar Investment Authority and other sovereign and institutional investors. The fund targets GCC technology companies looking to scale ahead of an IPO. The Doha presence would put Shorooq closer to its investors and potential portfolio companies as it builds out that strategy.
Kotak gives its Dubai presence a fresh address
India's Kotak Mahindra Bank inaugurated new premises for its Dubai representative office on Sheikh Zayed Road as it looks to deepen relationships with Indian families and businesses whose financial interests span the UAE, India, and beyond, according to a press release. The office isn’t a new banking branch: Kotak established its Dubai representative presence in 2009, and the central bank-licensed office cannot offer banking products or services in the UAE.
What’s the bigger play? Kotak is looking beyond remittances to clients managing businesses, investments, and family wealth across borders as the UAE and India work toward doubling bilateral trade to USD 200 bn by 2032. The group’s ties to the UAE also extend to investment management: Abu Dhabi Investment Authority committed more than USD 675 mn to a USD 1 bn Indian real estate fund managed by Kotak Alternate Asset Managers earlier this year.
