EGF Invests AED 45 Million in CarniStore to Boost UAE’s Premium Protein Sector

Emirates Growth Fund (EGF) has announced a AED 45 million strategic minority investment in CarniStore, marking its first entry into the food sector and reinforcing its commitment to supporting high-growth, homegrown businesses.

The investment is aimed at accelerating CarniStore’s expansion and scaling its operations across the UAE and beyond. The premium protein brand, established in 2018, has built a strong market presence by combining traditional butchery expertise with a digital-first, consumer-driven approach.

EGF stated that the funding will support CarniStore’s industrial growth, product diversification, and entry into new verticals, positioning the company for institutional readiness and broader regional expansion. The move aligns with the UAE’s broader strategy to develop “national champions” across key sectors, including food and beverage.

Commenting on the investment, Khalifa Al Hajeri said the partnership reflects EGF’s mandate to back high-potential UAE businesses in the “missing middle” through strategic capital and active collaboration. He added that beyond financial investment, EGF works closely with founders to strengthen governance, enhance market strategies, and build institutional capabilities.

CarniStore’s leadership welcomed the partnership, highlighting its role in advancing the company’s long-term vision. Fikry Boutros said the collaboration aligns with the brand’s mission to elevate quality standards in the protein sector while supporting the UAE’s growing food ecosystem.

Daniel Wanies added that EGF’s backing will enable the company to scale its operations and introduce new products while maintaining its commitment to premium quality and customer experience.

As a strategic minority investor, EGF will work alongside CarniStore’s founders to drive long-term value creation, strengthen governance frameworks, and enhance institutional capabilities, while preserving the company’s entrepreneurial identity.

The investment underscores growing confidence in the scalability of the UAE’s premium, locally rooted food and beverage sector, further contributing to the diversification and resilience of the national economy.