Emirates Development Bank (EDB) has officially launched the Emirates Growth Fund (EGF), a groundbreaking AED 1 billion growth equity platform. The fund aims to accelerate the scale, resilience, and global competitiveness of UAE-based small and medium-sized enterprises (SMEs). Unveiled at the fourth edition of the Make it in the Emirates Forum, EGF focuses on supporting businesses in priority sectors such as Manufacturing, Food Security, Healthcare, and Advanced Technology.
Driving Industrial Transformation and Economic Growth
The Emirates Growth Fund directly supports the UAE’s national industrial strategy, Operation 300bn, which aims to increase the industrial sector’s GDP contribution to AED 300 billion by 2031. By targeting SMEs with annual revenues starting at AED 10 million, the fund fills a crucial gap for companies that have surpassed early-stage financing but require flexible, long-term capital to unlock their full growth potential. Investments typically range between AED 10 million and AED 50 million per company.
Furthermore, EGF combines minority equity stakes with active value creation. This approach empowers founders to scale sustainably, strengthen governance, and develop into national champions shaping the UAE’s economic future. The fund is chaired by Ahmad Belhoul Al Falasi, UAE Minister of Sports, alongside Vice Chair and Managing Director Najla Ahmed Al Midfa. The board also features key leaders from both government and private sectors, ensuring strong governance and strategic oversight.
Strategic Vision and First Investments
Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology and Chairman of EDB, described the fund as a “bold, future-focused step” designed to provide capital, expertise, and strategic support to growth-stage UAE companies. He emphasised that the fund will enhance industrial competitiveness, strengthen supply chains, and boost national self-sufficiency. “We are confident that this Fund will be a true enabler for ambitious companies,” he added.
EGF specifically targets the “missing middle” in SME funding—businesses too mature for venture capital but too dynamic for traditional private equity, as explained by Dr. Ahmad Belhoul Al Falasi. By providing patient capital and active support, EGF aims to build a strong foundation for the UAE’s next economic era. Najla Ahmed Al Midfa further highlighted the fund’s focus on founder-led growth, saying, “Our capital is patient, but our ambitions are not.”
Already, EGF has announced its first investment in the healthcare sector through a partnership with Tarmeem Healthcare Holding LTD. This marks the beginning of a portfolio committed to delivering measurable impact and advancing national priorities. By deepening the industrial base, enhancing local supply chains, and fostering high-skilled job creation, the Emirates Growth Fund will play a pivotal role in shaping a resilient and also diversified UAE economy.
