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- Homegrown Ventures, a venture capital firm, has announced the closing of its first fund after raising $22.88 million.
- The fund targets the consumer packaged goods (CPG) and fast-moving consumer goods (FMCG) sectors in the region, with a focus on supporting local consumer brands.
- It will also focus on key sectors including food and beverage, health and wellness, personal care and home care, and lifestyle.
Homegrown Ventures, a venture capital firm, has closed its Fund I after raising more than $22.8 million, exceeding its $20 million target. The fund focuses on supporting the consumer packaged goods (CPG) and fast-moving consumer goods (FMCG) sectors in the region, while also backing local consumer brands.
Backed by regional and international investors, the fund targets early-stage “better-for-you” companies across food and beverage, health and wellness, personal care and home care, and lifestyle categories.
The strategy also aims to address long-standing gaps in the regional consumer market, which has been dominated for decades by multinational companies offering products and brands designed outside the Middle East and North Africa.
Homegrown Ventures plans to continue investing in early-stage consumer brands across the Middle East and North Africa, South Asia, and selected international markets, with a focus on food and beverage, health and wellness, personal care and home care, and lifestyle sectors.
The firm has already invested in five companies prior to the fund’s final close, reflecting the growing momentum in the region’s consumer sector.
Among its portfolio companies are PawPots and Plaay, both focused on healthy and natural consumer products.
Nader Amiri, General Partner at the firm, said:
“More than 55% of the MENA population is under 35, and we are witnessing a shift in consumer behavior toward local brands that offer greater transparency, quality, and identity.”
Investment in the CPG and FMCG sectors is undergoing a transformation similar to what the tech sector experienced about 15 years ago, driven by shifting supply chains and rising demand for local products.
About Homegrown Ventures
Homegrown Ventures is a venture capital firm focused on the consumer sector. It was founded by industry veterans including Ahmad Shamieh and Nader Amiri, who previously held leadership roles at companies such as Unilever, Coca-Cola, Kraft/Mondelez, Nokia, Danone, and Microsoft.
