Savory fund invests in Asian street food restaurant Hawkers

Lehi-based private equity firm Savory Fund has made a major investment in Hawkers, an Orlando, Florida-based 15-unit Asian street food restaurant chain, taking a majority ownership position in the company.

Terms of the transaction were not disclosed.

Hawkers was founded in 2011 by four childhood friends — Kaleb Harrell, Allen Lo, Wayne Yung and Kin Ho — and has locations across Florida, the Southeast and Texas, including Washington, D.C.; Atlanta; Dallas; Charlotte and Nashville.

Now, with the backing of Savory Fund — a restaurant investment firm known for scaling brands like Swig, Mo’ Bettahs and Via 313 — Hawkers’ founders say it is poised for its next big growth step and the ability to pay off existing debt. Hawkers filed for Chapter 11 bankruptcy protection in September 2024 and voluntarily withdrew from bankruptcy in February, following a loan restructure from the prior lender.

“I’ve been watching Hawkers for years. The food, the energy, the following — it’s magnetic,” said Andrew K. Smith, co-founder and managing director of Savory Fund. “From my very first visit, I knew there was something special here. And over time, my conviction only deepened. The team, the guest loyalty, the cultural connection — it’s the kind of brand you don’t just scale; you rally behind. With momentum building and a rock-solid foundation in place, now is the time.”

“We built Hawkers on heart, hustle and a hunger to share everything that makes Asian street food special,” said Harrell, CEO of Hawkers. “Over the years, it’s become clear that this brand has the potential to be something bigger than we ever dreamt it could be, and finding the right partner is crucial to achieving that goal. Savory is that partner. This isn’t just about capital; it’s about expertise, energy and alignment with a partner who loves the soul of this brand as much as we do.”

Hawkers is the third investment for the Savory Fund III portfolio, which includes acai and smoothie concept South Block and Southern Utah’s European-style patisserie Bonrue Bakery.