Abstract With the goal of building a concrete co-dimension one holographically dual field theory for four dimensional asymptotically flat spacetimes (4d AFS) as a limit of AdS4/CFT3, we begin an investigation of 3d Chern-Simons matter (CSM) theories in the Carroll regime. We perform a Carroll (speed of light c → 0) expansion of the relativistic Chern-Simons action coupled to a massless scalar and obtain Carrollian CSM theories, which we show are invariant under the infinite dimensional 3d conformal Carroll or 4d Bondi-van der Burg-Metzner-Sachs (BMS4) symmetries, thus making them putative duals for 4d AFS. Concentrating on the leading-order electric Carroll CSM theory, we perform a null reduction of the 3d theory. Null reduction is a procedure to obtain non-relativistic theories from a higher dimensional relativistic theory. Curiously, null reduction of a Carrollian theory yields a relativistic lower-dimensional theory. We work with SU(N) × SU(M) CS theory coupled to bi-fundamental matter and show that when N = M, we obtain (rather surprisingly) a 2d Euclidean Yang-Mills theory after null reduction. We also comment on the reduction when N ≠ M and possible connections of the null-reduced Carroll theory to a candidate 2d Celestial CFT.