The UAE-based firm exceeded its $20 million target to invest in early-stage consumer startups.
Homegrown Ventures, a UAE-based venture capital firm, has closed its debut Fund I at $22.8 million, surpassing its initial $20 million target.
The fund will focus on early-stage “better-for-you” consumer packaged goods and fast-moving consumer goods across categories including food and beverage, health and wellness, personal and home care, and lifestyle.
Founded by Nader Amiri and Ahmad Shamieh, the firm is positioned as a specialist investor targeting locally built consumer brands. Both founders bring experience from global companies including Unilever, Coca-Cola, Kraft/Mondelez, Nokia, Danone and Microsoft.
“With over 55% of the MENA population under 35, we are witnessing a structural shift that most investors are still sleeping on. These consumers don’t just want local alternatives, they are actively choosing them, demanding transparency, better ingredients, and brands that reflect who they actually are,” Amiri said.
The firm has already deployed capital into five companies ahead of the fund’s final close, including PawPots, a fresh pet food provider, and Plaay, a chocolate brand focused on clean ingredients and zero processed sugar.
“What separates Homegrown from everything else in this market is that when a founder sits across from us, they’re getting partners who have negotiated with the same retailers, built the same supply chains, and made the same mistakes. That’s an unfair advantage we pass directly to our founders,” Shamieh said.
The fund targets a growing segment within the MENA consumer market, with plans to invest across the Middle East and North Africa, South Asia and select international markets as demand shifts toward locally developed brands.