Homegrown Ventures raises USD 22.8 mn to back MENA consumer brands

UAE-based consumer venture capital firm Homegrown Ventures has closed its debut Fund I at USD 22.8 mn, which it will deploy into “better-for-you” CPG and FMCG brands across food, wellness, and lifestyle, according to a press release. Capital will go to early-stage brands in MENA, South Asia, and select global markets.

A head start: The fund has already deployed capital into five startups ahead of final close, including Lebanon’s PawPots, a fresh pet food brand, and Dubai-based Plaay, a clean-ingredient chocolate brand, signalling early momentum in the region’s consumer space. No further details were disclosed on the remaining portfolio companies.

The wager: Multinationals out, locals in

The backdrop: For decades, the region’s consumer space has been dominated by multinationals, leaving limited room and support for locally built brands.

The wager? That’s starting to shift. MENA’s consumer market is turning inward faster than capital. “With over 55% of the MENA population under 35 [...] consumers don’t just want local alternatives, they are actively choosing them,” general partner Nader Amiri said, pointing to rising demand for local, transparent, and health-focused products.

Fun fact: The founders themselves — Nader Amiri (LinkedIn) and Ahmad Shamieh (LinkedIn) — are former multinational business owners with a long history at major FMCG brands like Danone, Kraft, and Coca Cola.

Why timing matters

The push comes as regional disruption exposes the fragility of import-heavy supply chains. As we previously covered, policymakers are already pushing for greater localization, with targets of 25% local sourcing in hospitality, while new projects like UNS Vertical Farms are stepping in to reduce reliance on imports in a market that still sources up to 80-90% of its food externally.