Funds that Won A $750 Million Fund That Invests In Emerging Food Brands | Andrew Smith | Savory Fund | Ep 56
Aug 7, 2024
Join Andrew Smith, Founder of Savory Fund, as he delves into the exciting world of food investments. With a focus on emerging brands, he discusses how Savory helps small businesses grow with both capital and operational support. Andrew reveals strategies for scaling restaurants and highlights the unique cash flow dynamics of food ventures compared to tech. Discover the fascinating journey of turning a tech entrepreneur into a restaurateur, plus the innovative rise of brands like Liquid Death that are shaking up the beverage scene.
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Savory Fund's Beginnings
- Andrew Smith's Savory Fund started in 2017, initially aiming for $100 million.
- It closed oversubscribed in 2019 after a first close in 2018, acquiring five brands.
Savory Fund's Growth
- Savory Fund manages about $750 million, primarily through commingled funds.
- Fund 3 will incorporate co-investment and private credit opportunities.
Investing in Emerging Food Brands
- Seek emerging food brands with 5-15 units, 7-15 years old, demonstrating consistent growth.
- Implement a proven playbook for scaling, combined with an experienced operating team and dedicated capital.