March 31, 2026
Dubai, UAE – Emirates Growth Fund (EGF), the UAE’s flagship growth equity investor, has announced a landmark AED 45 million strategic minority investment in CarniStore, the nation’s leading premium protein business. The partnership brings together sourcing expertise, proprietary production, and digital retail, aiming to elevate food standards across the UAE. This marks EGF’s first foray into the food sector and signals a strong vote of confidence in the scalability of the country’s premium, locally-rooted F&B industry.
Since its launch in 2018, CarniStore has emerged as a defining player in the UAE’s premium protein market, combining heritage butchery expertise with a digital-first, consumer-driven approach.
Supercharging Growth and Expansion
EGF’s investment is designed to accelerate CarniStore’s industrial scaling and support expansion into new product verticals. The funding will help the brand achieve institutional readiness and extend its reach regionally, positioning it as a flagship of the UAE’s premium food sector.
Khalifa Al Hajeri, CEO of Emirates Growth Fund, said:
“EGF’s investment in CarniStore reflects our mandate to support high-potential UAE businesses within the ‘missing middle’ through strategic capital and active partnership. We work alongside founders to strengthen go-to-market strategies, governance, and institutional capability. CarniStore exemplifies the entrepreneurial grit and quality standards we seek in homegrown companies with the potential to become enduring national champions.”
Founder Perspectives
Fikry “Fix” Boutros, Co-CEO & Co-Founder of CarniStore, added:
“This partnership with EGF feels like a natural next step. From day one, our focus has been on raising the standard for quality proteins while supporting the UAE’s growing food community. Together, we’re excited to reach more people and shape how meat is sourced and experienced.”
Daniel “Dan” Wanies, Co-CEO & Co-Founder, said:
“EGF’s strategic backing allows us to scale CarniStore with intention, expand operations, and develop new products while maintaining premium quality. It’s a reminder that a UAE-born brand can lead internationally, not just participate.”
A Strategic Partnership for Long-Term Impact
As a strategic minority investor, EGF will accelerate CarniStore’s institutional scale, strengthen governance, enhance operational capability, and drive long-term value creation while preserving the company’s unique identity and entrepreneurial spirit. This partnership reinforces EGF’s mandate to back UAE-based businesses with high growth potential and transform them into national champions that diversify and strengthen the country’s economic landscape.
About Emirates Growth Fund (EGF)
Emirates Growth Fund (EGF) is the UAE’s AED 1 billion growth equity platform, backed by Emirates Development Bank (EDB). It invests in growth-stage companies across priority sectors—including Food Security, Manufacturing, Healthcare, and Advanced Technology—while building strategic partnerships to accelerate scale, resilience, and global competitiveness. EGF aims to cultivate the next generation of “National Champions,” bridging the funding gap for businesses ready to move beyond early-stage capital in alignment with Operation 300bn.
About CarniStore
Founded in 2018 in the UAE, CarniStore is a leading online butchery and smokehouse redefining how quality meat is sourced, distributed, and experienced. The homegrown brand blends traditional butchery craft with a consumer-centric, digital-first approach. Its protein portfolio spans meat, poultry, seafood, and smoked specialties. Supported by robust supply chains, high standards, and service excellence, CarniStore is trusted by households and hospitality operators alike, while continuing to raise the bar for quality, transparency, and culinary innovation in the region.
