– Savory Fund closed its third private equity fund, Savory Fund III, at $201.5 million, surpassing its $200 million target.
– The fund attracted both returning and new limited partners, including leading U.S. financial institutions, and has already deployed 35% of its capital.
– Fund III targets profitable, emerging, founder-led restaurant concepts across quick-service, fast-casual and casual dining.
– The fund plans to build a portfolio of eight to nine restaurant companies, combining capital with an operating platform led by CEO Clay Dover.
– Four investments are already in place.
– Andrew K. Smith, co-founder and Managing Director, said: “Raising a fund is a vote of confidence, and our investors voted loudly.”
– Shauna K. Smith, co-founder and Managing Director, said: “What our investors are really backing is the team behind the checks: operators who have opened restaurants, built playbooks, and know what it takes to scale without losing what made a brand special.”
– Founded in 2018, Savory has built a portfolio of 13 restaurant brands spanning more than 400 restaurants across 27 U.S. states.
