Economic Times:
The humble vada pav, Maharashtra’s popular staple snack, is set to compete with popular multinational fast food brands, after a venture firm joined hands with two first-time entrepreneurs to help roll out a national chain of restaurants. VenturEast, a southern venture capital firm, has invested $4.7 million, or Rs 21 crore in Goli Vada Pav, a Mumbai-based ethnic food chain that sells the snack.
The firm hopes to set up outlets across the country in an attempt to replicate the success enjoyed by Jubilant Foodworks, which acts as a franchisee for Domino’s Pizza. Jubilant is the best performing consumer stock so far this year and its success has spurred similar ventures from local snack makers.