Savory Fund partners with Asilia Investments and Brightwood Capital in funding round
Via 313 Pizzeria, the Detroit-style pizza brand with 23 locations in three states, has raised $32.5 million in capital, led by Asilia Investments and Brightwood Capital Advisors LLC, the companies said Tuesday.
The Austin, Texas-based brand said the funding round will be used for growth. The company said it plans to add 20 or more stores within the next three years.
Via 313 has partnered with the Lehi, Utah-based Savory Fund, a private equity firm.
“We couldn’t be happier with the trajectory of this brand,” Andrew Smith, managing director of Savory Fund, said in a statement. “We’ve got the right leaders in place, we have a strong growth strategy, and we are energized by our new partners, Asilia and Brightwood, who understand the power and potential of Via 313.”
Asilia Investments, based in Salt Lake City, is an alternative investment firm focused on private equity, real estate, and private lending.
“We are pleased to partner with the Via 313 and Savory teams,” Austin Read, partner at Asilia, said in a statement. "With an exceptional management team, distinctive offerings, and a strong brand — combined with the strategic support of Savory's deep industry expertise — we are confident Via 313 is well-positioned to sustain its remarkable growth.”
Brightwood Capital Advisors, based in New York City, focuses on small to medium-sized enterprises in the industries of business services, healthcare services, transportation, franchising, and technology.
“We are excited that the additional capital provided through this partnership will support new store openings across Texas, Utah and Colorado,” Sengal Selassie, founder and CEO of Brightwood Capital, said in a statement. “The brand has been at the forefront of bringing Detroit-style pizza to markets outside the Midwest, and we look forward to continued growth."
Via 313 was founded 14 years ago in a trailer in Austin by Detroit-born brothers Brandon and Zane Hunt.
The company said it has grown revenues by more than 300% in the last three years.
Savory invested in Via 313 in 2020.
“Via 313 started because we wanted to share our favorite pizza with the rest of the country,” said Zane Hunt. “Lifting up communities — whether it’s through a delicious slice of pizza or through our ‘Better Giving Through Pizza’ initiative — is a core pillar of who we are.”
Via 313 operates 21 full-service restaurants and two permanent trailers in Colorado, Texas, and Utah.
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