Savory Fund Elevates Shauna Smith and Names Clay Dover CEO
HOSPITALITY
Savory Fund announces a leadership evolution, promoting co-founder Shauna Smith to Managing Director and welcoming Clay Dover as Chief Executive Officer.
In the high-stakes world of emerging restaurant brands, the difference between a "fad" and a "fixture" often comes down to the leadership at the helm. Savory Fund, the innovative private equity firm behind breakout successes like Swig, Via 313, and Mo’ Bettah’s, announced a strategic leadership shift designed to accelerate its next chapter of growth.
The firm has officially promoted Shauna Smith to Managing Director and welcomed industry heavyweight Clay Dover as Chief Executive Officer.
Shauna Smith: The Architect of Growth
Since Savory’s inception in 2020, Shauna Smith has served as a cornerstone of the firm’s operational excellence. During her tenure as CEO, she transformed Savory from a fledgling investment arm into a powerhouse managing over $750 million in assets across 11 brands and 175+ locations.
In her new role as Managing Director, Smith will pivot from day-to-day operations to broader strategic oversight. She will focus on the firm’s investment pipeline, high-level brand development, and the long-term vision that has made Savory a preferred partner for founders looking to scale without losing their brand’s "soul."
Clay Dover: A Visionary for the Next Scale
To fill the CEO vacancy, Savory tapped Clay Dover, a seasoned leader with a reputation for turning regional stars into national icons. Dover joins Savory following a transformative tenure as President and CEO of Velvet Taco, where he grew the brand from a handful of units to a powerhouse with a cult following.
Dover’s arrival signals a "full-throttle" approach to Savory’s operational platform. His expertise in brand positioning, rapid scaling, and building world-class corporate cultures aligns perfectly with Savory’s unique "value-add" model, which provides founders with a ready-made infrastructure of accounting, marketing, and real estate experts.
The "Savory Way" 2.0
This leadership evolution comes at a pivotal time for the firm. Savory has carved out a unique niche in the F&B (Food and Beverage) space by focusing on emerging concepts, the "original" and "authentic" brands that the modern consumer craves.
“Shauna’s leadership has laid an incredible foundation,” said Andrew K. Smith, co-founder and Managing Partner of Savory Fund. “Bringing Clay into the fold allows us to double down on our operational expertise while Shauna focuses on the strategic growth of the fund itself.”
By separating fund strategy from brand operations, Savory is essentially "scaling its own scale." This move ensures that as the portfolio grows toward the $1 billion mark, each individual brand continues to receive the hyper-focused operational support that defined Savory’s early success.
For founders in the Savory ecosystem, the message is clear: the firm isn't just investing capital; it’s investing in a leadership bench that knows exactly how to navigate the transition from a local favorite to a household name.