Dubai – Sharikat Mubasher: Homegrown Ventures announced the closing of its debut fund after it had raised more than $22.8 million, surpassing its initial $20 million target. The firm positions itself as the region’s first venture capital fund dedicated to consumer-packaged goods (CPG), fast-moving consumer goods (FMCG), and locally built consumer brands.

Backed by a mix of regional and international investors, the fund will focus on early-stage “better-for-you” startups across food and beverage, health and wellness, personal and home care, and lifestyle segments, according to a recent press release. The strategy aims to address a longstanding gap in MENA’s consumer sector, where global brands have historically dominated, leaving limited institutional support for locally founded consumer businesses.

Founded by Ahmad Shamieh and Nader Amiri—former executives at companies including Unilever, Coca-Cola, Mondelez International, Danone, Microsoft, and Nokia—Homegrown Ventures brings deep industry expertise to support founders building regionally relevant brands.

The fund has already deployed capital into five startups ahead of its final close, including companies such as PawPots, which focuses on fresh pet food, and Plaay, a clean-ingredient chocolate brand targeting health-conscious consumers. This early activity reflects growing momentum in MENA’s consumer sector, which the firm believes is approaching a similar inflection point to the region’s tech ecosystem over a decade ago.

Looking ahead, Homegrown Ventures plans to continue investing in early-stage consumer brands across the Middle East and North Africa, South Asia, and select global markets, with a focus on building a more self-reliant, locally driven consumer economy.