Emirates Development Bank has introduced the Emirates Growth Fund (EGF), a growth equity initiative worth AED1 billion (approximately US$272 million), aimed at enhancing the growth and global competitiveness of small and medium enterprises (SMEs) based in the UAE.
### Fund Overview
The EGF will allocate investments ranging from AED10 million ($2.72 million) to AED50 million ($13.6 million) per enterprise, specifically targeting SMEs in the UAE that demonstrate strong growth potential, with annual revenues typically beginning at AED10 million ($2.72 million). This fund aims to transform the growth capital landscape for UAE SMEs, focusing on businesses that have progressed beyond early-stage financing but still require flexible, long-term investments to fully realize their potential.
### Strategic Contributions
The EGF is anticipated to significantly contribute to the UAE’s industrial evolution and support the objectives of Operation 300bn, a national strategy to increase the industrial sector’s GDP contribution to AED300 billion ($81.7 billion) by the year 2031.
By integrating minority equity investments with active value creation, the EGF enables entrepreneurs to grow sustainably, enhance governance practices, and establish national champions that will influence the economic landscape of the UAE. This approach allows founders to maintain operational control while benefiting from strategic guidance in governance, growth strategies, operational enhancements, and institutional frameworks.
### Leadership Structure
The fund operates under the leadership of Ahmad Belhoul Al Falasi, the UAE Minister of Sports, who serves as the Chair. Najla Ahmed Al Midfa holds the positions of Vice Chair and Managing Director. The board of the EGF includes notable members: Mariam Saeed Ghobash, Mohammed Huraimel Al Shamsi, Khalfan Juma Belhoul, Hassan AlSayegh, and Stephen Welton.
### Economic Impact
Focusing on priority sectors that align with the UAE’s strategic objectives, the EGF aims to strengthen the nation’s industrial foundation, improve local supply chains, and promote the creation of high-skilled jobs—essential components for long-term economic resilience.
Demonstrating its initiative, EGF recently announced its inaugural investment in the healthcare sector through a collaboration with Tarmeem Healthcare Holding LTD, marking the beginning of a portfolio designed to generate measurable impact and contribute national value.