SAVORY FUND PROMOTES SHAUNA SMITH TO MANAGING DIRECTOR; WELCOMES CLAY DOVER AS CEO

Leadership evolution positions Savory for its next phase of growth, pairing Smith's strategic vision with Dover's brand-scaling expertise at Raising Cane's and Velvet Taco

SALT LAKE CITY, Jan. 7, 2026 /PRNewswire/ -- Savory Fund, an innovative private equity firm focused on scaling emerging restaurant brands such as Swig, Mo' Bettahs, and Houston TX Hot Chicken, today announced the promotion of co-founder Shauna Smith from CEO to Managing Director and the appointment of Clay Dover, former CEO of Velvet Taco, as Savory's Chief Executive Officer. These leadership moves bolster Savory's ability to support founder-led brands while scaling high-growth concepts across the country.

"This is a meaningful milestone for Savory and a natural step in our evolution," said Andrew K. Smith, co-founder and Managing Director of Savory Fund. "Shauna's promotion to Managing Director allows her to spend more time driving value creation, supporting our founders, and shaping long-term investment strategy. Together with Clay's operational expertise as CEO, this strengthens our platform and supports Savory's continued momentum and leadership in the emerging restaurant investment space."

Savory, under Shauna Smith's direction, now encompasses 13 portfolio companies generating $515 million in annual revenue and supporting more than 9,200 jobs. With her promotion to Managing Director, Smith joins a rare group: According to the Colombia School of Business, only 5 percent of private equity firms are female-founded, and only 4 percent have female managing partners and CEOs.

"I'm proud of the platform we've built and honored to step into this expanded role," Shauna Smith said. "Clay has done exactly what we do at Savory — scale emerging brands into household names. I'm energized to link arms with him and Andrew as we take on this next chapter together."

Dover brings more than three decades of restaurant industry experience, including executive leadership roles at Raising Cane's, Pei Wei, and Velvet Taco. At Raising Cane's, he served as President and CMO, leading strategy, marketing, and operations for the juggernaut brand. At Velvet Taco, he oversaw 1000% sales growth and 1250% unit expansion — growing it from four units to 54 in his nearly nine years leading the brand.

"Joining Savory is a once-in-a-career opportunity," Dover said. "Savory's mission — helping founder-led brands scale without losing what makes them special — truly resonates with me. I'm thrilled to work alongside Andrew and Shauna to build on this incredibly strong foundation."

ABOUT SAVORY FUND
Savory is a private equity firm that combines over $750 million in AUM with a growth playbook that has been developed over 18 years of operating in the restaurant industry. Savory partners with emerging brands to deliver financial capital, industry expertise, growth and revenue opportunities, and new location development. Savory is currently invested in: Swig, R&R BBQ, PINCHO, Via 313, Mo' Bettahs, 86 Repairs, Saigon Hustle, Hash Kitchen, The Sicilian Butcher, Houston TX Hot Chicken, South Block, Bonrue Bakery, and Hawkers. For more information, visit SavoryFund.com.

SOURCE Savory Fund