Ex-Simply Eat CEO mulls elevating VC fund after slicing angel checks

David Buttress, the previous chief government officer of UK meals supply agency Simply Eat, is weighing plans to create his personal enterprise capital fund after a making practically a dozen investments on his personal. 

Buttress joined enterprise capital agency 83North as a enterprise associate after stepping down from Simply Eat in 2017, and has additionally made 10 so-called angel investments into startups throughout meals supply and different sectors. 

“That is one thing I’ve clearly loved doing,” he stated in an interview. “So I’ve really been within the technique of exploring the idea of constructing my very own little fund.” 

Buttress hasn’t formally dedicated to something and stated “it’s one thing I’m going to proceed to consider.”

As a enterprise associate with 83North, Buttress has labored with corporations corresponding to Asian meals supply startup HungryPanda. He has personally backed corporations together with digital restaurant model Sincere Meals Firm — finally acquired by Supply Hero SE — and Egyptian ordering service elmenus. 

He makes use of his personal capital for the investments, with particular person checks of as a lot as $750,000 at a fee of about two offers a 12 months, he stated. Alongside specializing in areas corresponding to shopper and meals supply, the place he had expertise, he’s additionally branched into health-tech. 

His newest funding is MyJam, a grocery supply startup, which raised $2.4 million from traders together with Buttress, who will chair its board. He stated he sees alternative round grocery supply for shoppers who prefer to make frequent orders from outlets with genuine produce.

Began in 2019 by Syrian founder Moe Ghashim, MyJam companions with neighborhood grocers and plans to develop its product vary to greater than 6,000 objects. The common order dimension is 59 kilos ($74), Ghashim stated in an interview.

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