Torchy’s Tacos, an Austin, Texas-based fast-casual restaurant serving untraditional tacos, received a significant minority investment from General Atlantic, a growth equity firm.
With the investment, whose amount was not disclosed, General Atlantic joined the five founding partners of the restaurant chain as shareholders.
Founded in 2006 by former corporate chef Michael Rypka, then joined by Farrell Kubena, Vice President of Business Development, Rebecca Kubena, Vice President of Finance, Jason Wald, Vice President of Operations, and Alfonso Angelone, Vice President of Technology, Torchy’s serves innovative, untraditional tacos to customers in 46 locations across three states.
In conjunction with General Atlantic’s investment, Todd Diener, restaurant industry veteran and former President of Chili’s, a leading brand of Brinker International, one of the world’s leading casual dining restaurant companies, will join the Torchy’s Board of Directors. Andrew Crawford and Shaw Joseph, both senior leaders on General Atlantic’s Global Retail & Consumer sector team, will also join the Board.