Dubai-based Fern Hospitality Ventures (FHV) has unveiled a $100 million Dubai dining fund aimed at scaling high-end restaurants and leisure brands from global hotspots like Mayfair to Bali. The move bets on the surging demand for experiential dining, fuelled by wealth migration and Dubai’s emergence as a hospitality powerhouse.
The fund, co-led by seasoned restaurateur Uday Singh and young investor Akshat Tibrewala, raised $15 million in its first 24 hours. Managed by Dalma Capital, it targets annual returns of 20–30 percent, combining restaurant cashflows with long-term real estate gains. Singh pointed to his successful track record with Bagatelle Dubai, where investors made 8.5 times their capital at exit.
Early portfolio brands include London’s 16 Charles Street private club, the Gen Z-driven “disco dining” ramen chain Ramen Me in Portugal, Miami’s The Joyce, and Opa Bali, an international offshoot of the Dubai-born Greek restaurant. More projects are planned for Miami, Los Angeles, Bali, and Saudi Arabia. FHV now controls a 90 percent stake in Ramen Me, which has reported strong sales in its first year.
The launch reflects confidence in Dubai’s dining scene, which has been buoyed by an influx of high-net-worth individuals post-pandemic. Wealth migration has driven demand for fine dining, beach clubs, and luxury experiences, though Singh admitted the local market is nearing saturation. “Investors in Dubai want access to international opportunities, and the market here has limits,” Tibrewala said.
Globally, luxury leisure hospitality spending is projected to grow from $230 billion in 2023 to $391 billion by 2028, while the fine dining sector is forecast to expand from $166.9 billion in 2024 to $243.2 billion by 2030. Gen Z diners are also shaping trends, favoring immersive, social media-fuelled dining concepts.
Singh, a veteran of Dubai’s restaurant industry with ventures including Opa and La Niña, said credibility is key: “Hospitality is risky. But with the right operators and cities, the upside is very strong.”
For FHV, Dubai is both blueprint and springboard. The fund aims to replicate the global success of “Made in Dubai” brands like Opa and Bagatelle. “The UAE has become a global powerhouse in luxury dining,” Singh said. “We want to take that momentum and scale the next generation of hospitality brands internationally.”
