UAE-based Homegrown Ventures has closed its first fund at $22.8 million, exceeding its $20 million target, as it seeks to invest in early-stage consumer packaged goods and fast-moving consumer goods startups across emerging markets.
The fund will focus on “better-for-you” brands in food and beverage, health and wellness, personal care, home care and lifestyle categories across the Middle East and North Africa, South Asia and select international markets.
Founded by former executives from Unilever, Coca-Cola and Mondelez, Nader Amiri and Ahmad Shamieh, the firm positions itself as a specialist investor in a consumer sector long dominated by multinational brands.
Homegrown Ventures said it has already deployed capital into five startups prior to final close, including PawPots and Plaay.
“With over 55% of the MENA population under 35, we are witnessing a structural shift that most investors are still sleeping on,” said Nader Amiri, general partner at Homegrown Ventures.
The firm said the regional consumer market is shifting toward healthier and locally built brands as supply chains tighten and demand for transparency grows.
“What separates Homegrown from everything else in this market is that founders are getting partners who have negotiated with the same retailers, built the same supply chains, and made the same mistakes,” said Ahmad Shamieh, general partner.
Homegrown Ventures will continue deploying capital into early-stage consumer brands across MENA, South Asia and select global markets.