SAN FRANCISCO--(Pacific Catch, a full-service, casual fish-focused restaurant chain, announced the completion of a $4 million private equity investment round led by Pacific Community Ventures, (PCV) a private equity firm focused on small, high-growth California businesses.)--
“We’re thrilled to have Pacific Community Ventures as a partner. We’re able to leverage PCV’s partners’ experience in our industry, having successfully built food-oriented businesses in the past. PCV’s double bottom line approach to investment and social purpose aligns with our culture and vision”
Pacific Catch’s menu offers a unique mix of Pan Pacific cuisine including casual Hawaiian, Japanese, and Latin American dishes. Bold flavors and innovative cooking preparations combined with accessible prices distinguish Pacific Catch as a new kind of casual fish house, now with three locations. The restaurants have received rave reviews from local and regional press.
PCV led the $4.0 million investment round in Pacific Catch as the sole institutional investor. The capital will be used to add more locations and support growth. Pacific Catch recently signed a lease for a new store opening in early 2011. PCV’s experience in helping companies grow, its network, and its financial resources will be fundamental in supporting Pacific Catch’s growth.
“The quality-focused, casual fish house category is an underserved segment of the market and Pacific Catch fills this gap with a unique concept and high value proposition. The Company has significant growth opportunities and we look forward to its successful expansion,” said Peter Mehrberg, the lead PCV partner on this transaction.
Pacific Catch was started in 2004 by two experienced restaurateurs who received financial support from industry investors and entrepreneurs. “We’re thrilled to have Pacific Community Ventures as a partner. We’re able to leverage PCV’s partners’ experience in our industry, having successfully built food-oriented businesses in the past. PCV’s double bottom line approach to investment and social purpose aligns with our culture and vision,” said Keith Cox, CEO and co-founder of Pacific Catch.
PCV invests in high growth businesses that deliver exceptional financial returns, while creating high quality jobs for low and moderate income (LMI) communities. Pacific Catch has created more than 100 jobs for the LMI community and plans to add hundreds more over the next few years.
ABOUT PACIFIC CATCH
Pacific Catch is a full-service casual fish-focused restaurant chain that opened its first restaurant in 2003. Its menu offers a mix of Pan Pacific cuisines including casual Hawaiian, Japanese and Latin American dishes. Its menu offers affordable high-quality seafood and features sushi rolls, fish tacos, rice bowls, meal-sized salads, grilled sandwiches, fish & chips, and daily fish specials. The Company has three locations, two in San Francisco and one in Corte Madera, and is slated to open its largest restaurant yet, in Campbell, California.
ABOUT PACIFIC COMMUNITY VENTURES, LLC
Pacific Community Ventures (PCV) is a private equity investment firm focused on investing in small, high growth California businesses that bring economic benefit to low-to-moderate income employees and communities. PCV builds, develops and maximizes the value within these organizations for the benefit of owners, management and employees. PCV’s experienced team works closely with companies, providing hands on strategic and operational guidance in addition to capital.