Emirates Development Bank Announces Launch of AED1 Billion Emirates Growth Fund EGF is also expected to play a pivotal role in driving the UAE's industrial transformation.
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Emirates Development Bank, the UAE government-owned financial institution, has announced the launch of the Emirates Growth Fund (EGF), an AED1 billion (US$272 million) growth equity platform designed to accelerate the scale and global competitiveness of UAE-based small and medium enterprises (SMEs).
With the Fund's investments ranging between AED10 million ($2.72 million) and AED50 million ($13.6 million) per company, it is set to target UAE-based SMEs with strong growth potential and annual revenues typically starting from AED10 million ($2.72 million). EGF is thus expected to redefine growth capital for UAE SMEs, targeting companies that have outgrown early-stage funding but require flexible, long-term investment to unlock their full potential.
EGF is also expected to play a pivotal role in driving the UAE's industrial transformation and advancing the goals of Operation 300bn, the national strategy to raise the industrial sector's gross domestic product (GDP) contribution to AED300 billion ($81.7 billion) by 2031.
Furthermore, by combining minority equity stakes with active value creation, EGF empowers founders to scale sustainably, strengthen governance, and build national champions that will shape the UAE's economic future. This also ensures that founders retain operational control while gaining strategic support in areas such as governance, growth strategy, operational optimization, and institutionalisation.
Chaired by Ahmad Belhoul Al Falasi, UAE Minister of Sports, the fund also has Najla Ahmed Al Midfa serving as Vice Chair and Managing Director. The EGF Board also includes Mariam Saeed Ghobash, Mohammed Huraimel Al Shamsi, Khalfan Juma Belhoul, Hassan AlSayegh, and Stephen Welton.
By focusing on priority sectors aligned with the UAE' strategic goals, EGF is set to deepen the nation's industrial base, enhance local supply chains, and stimulate high-skilled job creation, all critical pillars of long-term economic resilience.
Signalling immediate momentum, EGF unveiled its first investment in the healthcare sector through a partnership with Tarmeem Healthcare Holding LTD, marking the start of a portfolio aimed at delivering measurable impact and national value.
