By Benjamin Cortez Published on October 18, 2023 – hoodline
Buyers Edge Platform founder and CEO John Davie, alongside Mathew Focht, have launched the Emerging Fund, a venture capital platform poised to bolster unique ideas and technological progress in the restaurant industry.
The Emerging Fund has been established to provide burgeoning entrepreneurs in restaurant operation, restaurant technology and social entertainment sectors with capital,
strategic growth strategies, guidance and industry links, as per the Boston Business Journal.
Both Davie and Focht have shown a keen interest to deeply merge technology, and the restaurant industry.
Through their involvement with rapidly growing businesses like Puttshack, F1 Arcade and Boston restaurant tech provider Toast, this interest is evident.
Davie’s brainchild, Buyers Edge Platform is a recognized player in the realm, assisting foodservice customers by offering help with understanding data, using technology, purchasing power and expertise from its inception in 1998.
With the current funds of $54 million, the Emerging Fund aims to raise a further $46 million, as revealed by the Boston Business Journal. Among the entities invested in this capital venture’s portfolio are brands like Flight Club, Puttshack, F1 Arcade, Tablz and Overproof.
Standing out from your average private equity fund, the Emerging Fund places a significant emphasis on entrepreneurship. It boasts 45 limited partners, with 34 being entrepreneurs from the restaurant or food tech industry which allows the fund to leverage expert knowledge, and industry insight. Initial investments are set to range from $50,000 to $5 million with the potential for follow-up rounds to reach up to $10 million per investment, as noted in an NBC Boston report. The fund’s focus will be to support early-stage companies seeking funds through seed to Series B.