Union Square Hospitality Group (USHG), the New York, NY – based hospitality company founded by Danny Meyer, completed raising a strategic growth equity fund, at over $200m.
Led by Mark Leavitt, Chief Investment Officer, Enlightened Hospitality Investments LP (EHI), which received capital commitments from third-party investors as well as USHG, will identify and invest in scalable businesses with proven category leadership and a committed focus on building shareholder value by building an employee, customer and community-focused culture.
EHI will primarily, but not exclusively, focus on fine casual restaurants and technology companies making minority investments of $10-20m.
The fund has made its first investments in:
New York-based Joe Coffee, which operates 16 stores and a growing wholesale business;
Portland-based Salt & Straw Ice Cream, known for its ice cream creations, with 10 stores on the west coast; and
Resy Network, a New York-based operations software business for the restaurant industry serving restaurants in 40 markets.