Wealthy Family Office Mousse Partners Sees Promise in Butler Hospitality
Posted on 12/12/2021
Mousse Partners, Ltd. is betting on New York-based ghost kitchen operator Butler Hospitality (B Hospitality Corp.). In 2020, Butler Hospitality raised US$ 15 million in Series A from investors including &vest, The Kraft Group, Los Angeles-based Scopus Ventures, LLC, and Mousse Partners. In 2021, Butler Hospitality raised US$ 35 million from Shamrock Holdings, Inc., Mousse Partners, Platform Ventures, and Maywic Select Investments. Cincinnati-based Maywic Select Investments was founded by Fred Mayerson and Chad Wick. Shamrock Holdings, Inc. (Shamrock) was founded by the late Roy E. Disney in 1978 and serves as the investment vehicle for certain members of the Roy E. Disney.
Butler Hospitality was formed in 2018 by Premtim Gjonbalic (Tim Gjonbalic) and it offers virtual room service by operating restaurants in hotels and delivering to non-service hotels nearby. Butler takes over underutilized hotel kitchens and aggregates multiple hotel food and beverage programs to one centralized kitchen. The business model seeks to take an existing asset such as current hotel property space (underutilized kitchen space) and monetize it. Butler Hospitality has plans to service 250,000 rooms in 2022.
Premtim Gjonbalic is the son of Albanian immigrants to the U.S. Gjonbalic opened his first restaurant in New York City at the age of 19.
Correction: Updated founding date of Butler to 2018.
