KBW Ventures, founded by CEO Khaled bin Alwaleed, has announced its very first investment in the French vegan ecosystem.
The venture capital firm has invested in Furahaa Group – which was founded in 2015 by Arthur Devillers.
It operates three subsidiaries: Plant B2B, ViVeg and its eponymous restaurant Furahaa.
Plant B2B is a supply chain and distribution entity; ViVeg is a vegan subscription box company and Furahaa is a ‘much loved’ vegan fast food chain.
In a statement sent to PBN, Khaled said: “This is my first investment in the French market.
“The Furahaa Group, driven by Arthur’s vision for an inclusive and diverse workplace, while giving consumers and other suppliers a way to choose herbal options, immediately interested me in the company. .
“The distribution industry is strong, and during the pandemic I saw a quick and organized pivot – something any investor would find very attractive in a holding company.”
Devillers added: “The Furahaa group was initially looking for like-minded investors to ensure the stability of our shares.
“We wanted to better respond to shortages of food of plant origin, because in France, alternative proteins – meat and dairy products – are not yet widely available at competitive prices.
“Finding quality ingredients at price parity was a challenge, which is why Furahaa Group developed its own supply chain and its own distribution flows.”
In addition, the Group aims to develop in France with the launch of several new points of sale.
“Furahaa would like to be the first plant-based chain in France,” added Devillers.” It’s simple. We want to be wherever traditional fast food is, but with plant-based alternatives. ”