Dubai investment platform Fern Hospitality Ventures launches USD 100 mn fund to scale global dining and leisure brands

Dubai-based investment platform Fern Hospitality Ventures (FHV) launched a USD 100 mn (AED 367.3 mn) fund to invest in global dining and leisure brands, Arabian Business reports, citing co-founders Uday Singh and Akshat Tibrewala. Managed by Dalma Capital, the fund has already raised USD 15 mn within 24 hours and targets 20-30% annual returns.

The fund is intended to drive overseas expansion, giving investors options outside Dubai’s crowded dining landscape. This comes even as the emirate continues to attract significant numbers of wealthy residents. “Investors in Dubai want access to international opportunities, and the market here has limits,” Tibrewala said. “We want to take a brand and give them access to the strongest operator in a region so they can expand from one or two venues to five or six,” he added.

Early portfolio: Initial investments include the soon-to-be-opened 16 Charles Street, a private members’ club in London’s Mayfair; Ramen Me, a ramen chain in Portugal, in which it holds a 90% stake; The Joyce, an American dining concept in Miami; and Opa Bali, part of the Dubai-born Greek restaurant brand.

What’s next? The fund is in talks with Saudi family offices, wealthy Indian investors, and Abu Dhabi funds, with sovereign wealth participation possible at a later stage. Further projects are being explored in Bali, Miami, Los Angeles and Saudi Arabia.

What we know about the founders: Singh is a hospitality entrepreneur who helped launch Bagatelle Dubai and is a partner in Opa Dubai — which has since expanded to six cities, including Bali — and La Niña. Meanwhile, Tiberwala manages USD 25 mn in assets through private investment firm Niyamo Capital.