McWin Restaurant Fund secured $512 million in initial funding commitments, while Taibang raised $300 million.
The Abu Dhabi Investment Authority, a sovereign wealth fund in the United Arab Emirates, has led funding rounds by European restaurant investment firm McWin and Chinese biopharmaceutical firm Taibang Biologic Group.
Adia is the primary limited partner for McWin Restaurant Fund, which has secured initial funding commitments of €500 million ($512m) to invest in restaurants, the private investment company said in a statement on Tuesday.
The fund is launched by food industry investors Henry McGovern and Steven Winegar, who have backed brands including Italian restaurant chain Vapiano and UK-based bakeries Gail’s.
The deal brings the total capital managed by McWin, which oversees a €250m FoodTech fund and a food ecosystem fund that will close in the third quarter at €300m, to more than €1 billion.
The Adia-backed McWin Restaurant Fund will focus on larger investments with a ticket size of at least €100m, according to the statement.
“We view the partnership with Adia as a long-term strategic relationship to unlock sustainable long-term value across the hospitality sector,” Henry McGovern, co-founder of McWin, said.
“Our operating experience and hands-on approach is the perfect value proposition for national brands that want access to a Europe-wide platform to scale their operations and grow beyond their borders.”
Investing on behalf of the Government of Abu Dhabi, Adia was founded in 1976 and invests directly and indirectly in various asset classes including equities, fixed income, infrastructure, private equity and real estate.
