A food-focused venture capital firm has made a major investment in a new restaurant. Houston TX Hot Chicken is the latest addition to Savory Fund’s portfolio.
Founded in Las Vegas by Edmond Barseghian, Houston TX Hot Chicken does hot chicken tenders that can also be served as sandwiches, salads, and loaded fries. Seven spices levels — everything from “no spice” to “Houston, we have a problem” — and eight dipping sauces, four of which are made fresh daily, meaning diners of all tastes will be able to find a favorite. Beverage options include milkshakes, beer, and cocktails.
The restaurant serves hot chicken tenders at seven spices levels.Courtesy of Savory Fund
“This collaboration with Savory Fund transcends a merger; it signifies the harmonious convergence of two passionate forces, both driven by a shared vision of uncompromising excellence,” Barsegian said in a statement.
The investment will allow the restaurant, which has grown to 11 locations in six states (including a Houston-area location), to fund further expansion. Savory’s investment demonstrates that the company is bullish on the Nashville hot chicken trend.
“Savory has been monitoring this flavor segment for the past five years. We have met with and evaluated many brands attempting to do what HHC has already accomplished, and we are thrilled to make this strategic investment,” Andrew K. Smith, co-founder and managing partner of Savory Fund, added. “We are confident in HHC's potential to lead the Nashville hot chicken wave, particularly as we look toward franchising. Edmond and his team are ready to turn a local hotspot from Las Vegas into a national success story through additional corporate growth and franchising.”
Houston TX Hot Chicken joins a number of restaurants in Savory’s portfolio, including Austin pizza favorite Via 313, breakfast concept Hash Kitchen, and Hawaiian barbecue restaurant Mo’ Bettahs. Last year, the fund invested $1 million in Houston Vietnamese restaurant Saigon Hustle. Overall, the fund has more than $600 million in assets under management. Terms of the deal with Houston TX Hot Chicken were not disclosed.
As Smith said on a recent episode of CultureMap’s “What’s Eric Eating” podcast, the company has big plans for Houston. It has already opened one location of burger joint Pincho with multiple locations of Via 313, Hash Kitchen, and drive-thru beverage concept Swig on the way.
“It’s kind of a foodie town. You guys like to eat,” he said. “People enjoy eating out. It’s part of their lives. It’s part of their social interaction with friends and family members.”
More announcements could be coming soon. Smith added the fund is looking to invest in at least one Mexican concept, different Asian concepts, and a healthy-eating concept.
