Dubai – Qahwa World
Emirates Growth Fund (EGF) has finalized a strategic minority investment of AED 45 million in CarniStore, a premium protein provider. This transaction marks EGF’s entry into the food sector and aligns with its mandate to support the development of “National Champions” within the UAE’s business landscape.
Founded in 2018, CarniStore has established a significant presence in the premium protein market by integrating traditional butchery with digital retail operations. The capital injection is intended to facilitate industrial scaling, the development of new product verticals, and broader regional expansion.
Khalifa Al Hajeri, CEO of Emirates Growth Fund, stated, “EGF’s investment in CarniStore reflects our mandate to support high-potential UAE businesses within the ‘missing middle’ through strategic capital and active partnership. Beyond providing growth equity, we collaborate with founders to strengthen market positioning, governance, and institutional capability.”
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Fikry Boutros, Co-CEO and Co-Founder of CarniStore, noted that the partnership represents a logical progression for the company, focusing on long-term foundations and raising quality standards for proteins within the local food community.
Daniel Wanies, Co-CEO and Co-Founder of CarniStore, added: “EGF’s strategic backing allows us to scale CarniStore with intention, growing our operations and developing new products while maintaining the premium quality our customers expect.”
As a strategic minority investor, EGF will focus on enhancing CarniStore’s institutional capacity and corporate governance. This partnership underscores a shared commitment to diversifying the UAE’s economic landscape by backing high-traction, local businesses with scalable models.
