Former Jeni’s CEO John Lowe has launched a new private equity fund to invest in and grow restaurants and food retail.
The group, called Amok Consumer Growth Fund, targets concepts that have already built a large customer base but need capital and expertise to expand. The company provides investments ranging from $500,000 to $5 million, and also provides support in the areas of sales, finance, organizational development and marketing.
Amok Consumer has completed its first round of fundraising and is currently negotiating definitive agreements with two companies – a cafe concept and a consumer packaged goods company whose products are sold at Whole Foods, one based in Los Angeles and the other in the Midwest.
“We pick winners and then help them win even bigger,” Lowe said in a statement. “Each of us on the Amok Consumer team has bet on a brand that has been recognized as having potential to be a breakout winner long before the rest of the world. We’ve come together as a team because we enjoy helping young consumer brands. It’s what gets us out of bed in the morning.”
Lowe served as CEO of Jeni’s from July 2009 to December 2022. He continues to serve on the ice cream chain’s board of directors. He has also served on the board of White Castle since January 2012. During his time at Jeni’s, the brand grew from four stores and $1.2 million in annual sales to over 90 locations and nearly $150 million in annual sales. Stores stretch from Philadelphia to Los Angeles, and pints are sold in the freezer aisles of grocery stores in all 50 states. In addition, Jeni’s has the nation’s largest direct-ship ice cream business.
Its leadership team includes Rachelle Lynch, a veteran CPG sales leader who has helped grow Burt’s Bees, Plum Organics, Jeni’s, Hu Kitchen and others. In late 2023, she founded Golden Thread CPG, an advisory firm for emerging brands. Another member is Timmy McCarthy, who founded Raising Cane’s in Ohio and grew it to 44 locations before selling the franchise back to founder Todd Graves. The third member is Ryan Parish, a New York investment banking and private equity veteran and co-founder of Triskelion Equity Partners. He has 25 years of experience in operational and strategic finance, mergers and acquisitions, capital markets, due diligence, valuation, structuring, documentation and investor relations, including a focus on food and beverage and restaurants.
“We may be investors, but at our core we are entrepreneurs who enjoy helping founders and leaders realize their business potential,” Lowe said. “The early growth stage of companies is the most fun. That’s where we all made our name and where we can contribute and create the most value for companies.”
