- September 21, 2018 / 2 min readThe firm is making the investment to pick up 50% stake in Sierra Nevada Restaurants and Dolomite Restaurants.
Venture capital fund Hunch Ventures will invest Rs 100 crore in two companies operating US-based burger chain Wendy's and fine dining chain Jamie's Italian in India. The firm is making the investment to pick up 50% stake in Sierra Nevada Restaurants and Dolomite Restaurants, jointly owned by International Market Management (IMM).
IMM is a London-based consumer brand headed by entrepreneur-restaurateur Jasper Reid.
Reid said, "Wendy's has now found the right model for India and is planning to open 300 Wendy's outlets in the next 5-10 years. The company plans to open about 80 Jamie’s branded restaurants during the same period."
Karanpal Singh, Founder of Hunch, said, "We have been looking for the right food businesses that are scalable and to be able to integrate with our other assets like tech, media and our hospitality knowledge. We want to leverage all those different capabilities."
So far, Hunch has invested about $150 million in various tech firms, which includes Indiaroots.com, healthcare venture, and high-end concierge services among other entities.
The agreement comes after Rollatainers, Amtek group company, had sold its 50% stake in Wendy's to IMM.
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