Emirates Growth Fund (EGF) has announced a landmark AED45 million strategic minority investment in CarniStore, the nation’s leading premium protein business, bringing together sourcing expertise, proprietary production, and digital retail to elevate food standards across the UAE.

This marks EGF’s first investment in the food sector, representing a definitive step in the UAE’s mission to foster "National Champions" and signaling a powerful vote of confidence in the scalability of the country’s premium, locally-rooted F&B sector.

Khalifa Al Hajeri, CEO of Emirates Growth Fund (EGF), commented, “EGF’s investment in CarniStore reflects our mandate to support high-potential UAE businesses within the ‘missing middle’ through strategic capital and active partnership. We remain actively deploying, consistent with our long term mandate to back strong UAE businesses, by working alongside them as they execute on their growth ambitions.

Beyond just investing growth equity, we work with founders to strengthen go to market, governance and institutional capability. CarniStore exemplifies the entrepreneurial grit and quality standards we seek in homegrown companies with the potential to evolve into enduring national champions in their industries.”

Fikry “Fix” Boutros, Co-CEO & Co-Founder of CarniStore, noted, "This partnership with EGF feels like a natural next step in our journey. We share a belief in building strong, homegrown businesses with a long-term vision and real foundations. From day one, our focus has been on raising the standard for quality proteins while supporting the UAE’s growing food community. Together, we’re excited to keep building, to reach more people, and to shape how meat is sourced and experienced, starting here at home."