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Mercato Partners Closes Second Savory Fund at $100M Mercato Partners has closed Savory Fund II, its second investment vehicle devoted exclusively to backing emerging restaurant concepts, raising $100 million of commitments. The closing of Fund II builds upon the early success of the firm’s inaugural vehicle, which closed on $100 million of commitments in October 2020. Limited partners in the fund consist of both existing and new investors, including institutional investors, family offices, and financial services and advisory firms. Savory’s investment strategy focuses on partnering with ...

Savory Fund II builds upon the previous funding success of the first round in October 2020 Growth equity firm Mercato Partners announced Wednesday the closure of the $100 million second round of Savory Fund, which backs “emerging and profitable” restaurants with the funds needed to boost and expand their brands. Savory Fund II is closing on the heels of its first round, which closed in October 2020. The second Savory Fund — which is being managed by General Partners Andrew K. Smith and Greg Warnock and backed by 65 industry professionals — aims to partner with six to eight new f...