Executive Summary
Manhattan Funds is launching a $50M private equity fund to acquire, operate, and scale high-performing bagel brands across the U.S. The fund’s initial $10M close will support the first 10+ locations, followed by a $40M growth round.
Target brand: Go Bagels
Net IRR to LPs: 18%–22%
MOIC: 8x–12x
Payback period: ~2 years
Investment Thesis
In a fragmented $2.4B industry, beloved regional bagel stores are ready to be scaled nationally. Our team brings deep QSR experience and execution capability to lead the next wave of brand consolidation.
200M+ bagels consumed weekly in the U.S.
Proven local operators.
High-margin, replicable formats.
Strategy
