Photo by White Rabbit Projects

McWin Food Ecosystem Fund

McWin FEF I has invested in leading food services brands, such as Burger King, Vapiano and Gails, and within the food technology allocation, the fund has invested in category leaders such as Upside Foods, The Every Company, Oishii and Footprint.


McWin Food Ecosystem Fund (the ‘McWin FEF’) was founded in September 2021 and is focused on foodservice and foodtech investment opportunities. 

The McWin Food Ecosystem Fund (the ‘McWin FEF’), founded by entrepreneurs Henry McGovern and Steven K. Winegar in September 2021, is focused on investments in foodservice and foodtech. Henry is the founder of AmRest, having led the company to a 13,7x return to investors between IPO and his exit in 2019. Steve is an icon in the Spanish restaurant industry for 30+ years, having founded and developed several successful restaurant concepts and exits.

With their many years of experience and network in the foodservice sector, the team behind the McWin has fully invested the McWin Food Ecosystem Fund,  to drive meaningful change in the food system, connecting the food service and food technology verticals, and improving sustainability and environmental performance.

Investment Strategy

The fund invested 70% in mid-cap, high-growth food service brands in Europe, as well as in 30% growth-stage food technology companies, with the aim of connecting the food ecosystem and maximizing synergies to achieve scale

40 %
Food Service
0 %
Food Tech

Notable Investments


Manifesto is a next-generation food market hall brand in the intersection of food and beverage, real estate, technology, and culture. It is an award-winning gastro-cultural concept in a new F&B market segment experiencing exponential growth.

White Rabbit

White Rabbit is a hospitality development platform that partners with early-stage restaurants and entrepreneurs to support and accelerate growth. The hospitality incubator’s unique development platform identifies and incubates early-stage hospitality brands, helping them to scale successfully.

 FDA Approved


UPSIDE FOODS is a cell-cultured meat company. The company’s initial products will be chicken meat, grown in bioreactors without needing animals, but they are also developing other types of meat such as beef, pork, and shellfish.


Oishii is a vertical farming company that specializes in the production of premium-grade, brandable flowering fruits. They currently sell strawberries but have a pipeline of crops they will introduce over the years, including melons, tomatoes, grapes, and other berries.



Menu developed an advanced, holistic, and integrated digital omnichannel platform enabling restaurant brands to offer guest self-order, pay incentive & engagement. They are one of the most important providers for global restaurant brands on the market.


Footprint, a global material science technology company focused on creating a healthier planet through the design, development and advanced manufacturing of plant-based biodegradable, compostable and recyclable solutions to replace single- and short-term use plastics.

Featured News

In the News


Oishii Grows High-end Strawberries Using Vertical Farming Technologies

January 26, 2024

The Caterer

White Rabbit Projects secures multi-million-pound investment

November 29, 2022

Big Hospitality

White Rabbit Projects wins backing of Gail’s investor McWin  

November 29, 2022


McWin Food Ecosystem Buys the British Gail's Bakery Together with Bain Capital

August 10, 2022

Food Service

New Majority Shareholder for Burger King Germany

December 20, 2021

El Confidencial

Nortia (Manuel Lao) Fund with AmRest Founders Buys Gail's Bakery

August 10, 2021

Accelerating the world’s food ecosystem transformation.

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