London-based private equity firm Apax Partners recently announced the closing of its $30 million ButcherTech Fund, a venture fund designed to invest in early-stage food-tech startups.
The fund is the result of a three-way partnership between Apax, ButcherTech – a California-based accelerator and venture fund – and former MasterCard executive Bruce Schuckerman. It will focus mainly on early-stage investments in the food-tech sector, with a particular emphasis on ‘business-to-consumer’ (B2C) food-tech solutions.
The fund will be deployed over the next two to five years, with a majority of its investments in early-stage companies. Apax Partners has committed a total of $3.5 million to the fund, while ButcherTech and Schuckerman are contributing the remaining amount. Apax’s role in the fund is providing capital as well as its expertise and network of mentors to the companies.
According to Apax, the fund is a long-term effort to identify and invest in food-tech companies that will shape the future of eating world-wide. Apax Partner Loren Cheng commented that the fund will strive to “provide entrepreneurs in the sector with the capital ˆ including both equity and debt ˆ to help get their business off the ground and accelerate their growth.”
Apax’s fund will focus on a wide range of food-tech solutions, including food delivery services, mobile ordering apps, restaurant automation solutions, and more. The goal is to help growing food-tech startups become market leaders by providing them with resources and experience.
The ButcherTech fund is an important step forward for Apax Partners, as they continue to invest in promising tech startups. Apax plans to invest around $20 million in the upcoming year and has signaled their willingness to explore additional investment opportunities in the food-tech sector.
With the closing of the ButcherTech fund, the Apax team have taken an important step in their bid to become the leading venture capital fund for food-tech companies. Their goal is to build and support the innovative companies that will help shape the future of food and dining, both in the UK and further afield.
ButcherTech Secures $30M in Apax Fund Led by London-Based Private Equity Institution
Today, ButcherTech, the fully automated butcher shop, announced that it had secured $30M in Apax Fund, led by London-based private equity institution, Apax Partners. The funding will be used to expand ButcherTech’s technology platform, open new stores, and expand service offerings into other markets.
This fundraising round is a major milestone for ButcherTech, proving its leadership in the automated retail market. The funds will fuel ButcherTech’s growth and help extend its customer base further.
ButcherTech is a revolutionary concept that combines technology with a personalized and automated service. Customers place orders online and then have them delivered directly to a store. Upon entering the shop, customers can see a customer service associate ready to assist them with their order. The automated nature of the process enables customer convenience and cost savings.
The investment marks Apax’s third investment in ButcherTech, having previously participated in a $25M round and a $22M round. The founder and CEO of ButcherTech, Dan Butcher, said they are delighted to have the Apax team on board once again.
“We’re thrilled to have one of the biggest players in private equity invest in our company. This funding will help us reach our goals of integrating automated retail in multiple locations, improving our technology platform, and better serving our customers. We look forward to continuing to work with our existing investors and Apax to make ButcherTech the leader in automated retail.”
Apax’s investment in ButcherTech is a major milestone in the development of automated retail. It signals to the wider market the potential that exists in automated retail and the promise that ButcherTech’s platform has to offer. It’s yet another example of Apax’s commitment to funding entrepreneurs and businesses which have the potential to disrupt their sectors for the better.
Apax Fund From London-Based Private Equity Firm Invests $30M in ButcherTech
There is exciting news in the world of private equity investments, as London-based private equity firm Apax Fund has announced that it has invested $30 million into ButcherTech, a mobile app-based butcher shop start-up. This strategic investment will help ButcherTech to expand its services, including delivery and payment, both of which are key elements to staying competitive in today’s market.
ButcherTech is a modernized butcher shop that leverages mobile app technology to deliver its services. Customers can order meat, measure their portion sizes, manage delivery times, and pay for their orders through the app, allowing for an efficient, convenient shopping experience. This investment is part of Apax Fund’s commitment to investing in revolutionary technology companies.
This influx of capital will provide ButcherTech with the resources required to build and expand its team, develop its services, and scale its operations. This investment will also give ButcherTech access to the vast network of Apax Fund’s existing partners, allowing for potential partnerships that could help it to become an even larger player within the market.
Apax Fund’s investment in ButcherTech is yet another example of how technology-based companies are changing the way the average consumer shops. Through the use of mobile app technology, ButcherTech is utilizing the power of convenience, allowing customers to instantly purchase high-quality meat on-demand. This investment by Apax Fund is a sure sign that the revolutionary, technology-based butcher shop is here to stay.