UAE-based premium protein brand CarniStore has secured a AED 45 million ($12.2 million) strategic minority investment from Emirates Growth Fund (EGF), marking the fund’s first food-sector investment.
Founded in 2018, CarniStore has built its position in the UAE’s premium protein market by combining heritage butchery know-how with proprietary production and a digital-first retail model. The company says the new capital will support industrial scaling, expansion into new product categories, and broader regional growth.
For EGF, the deal reflects its strategy of backing high-potential UAE businesses in the so-called “missing middle” and helping them evolve into long-term national champions. Beyond capital, the fund says it will work with CarniStore on governance, go-to-market strategy, and institutional capability as the business scales.
“EGF’s investment in CarniStore reflects our mandate to support high-potential UAE businesses through strategic capital and active partnership,” said Khalifa Al Hajeri, CEO of Emirates Growth Fund.
CarniStore co-founders Fikry “Fix” Boutros and Daniel “Dan” Wanies described the partnership as a natural next step for the business, with the new backing expected to help the company expand operations and launch new products while maintaining its premium positioning.
The transaction signals growing investor confidence in the UAE’s homegrown premium food and beverage sector, as locally built consumer brands increasingly attract institutional growth capital.
