Related Cos Chairman Stephen Ross Invests In David Chang's Momofuku
David Chang is already known as one of the country's top chefs, and he just received one hell of a pocketbook endorsement.
RSE Ventures, the investment vehicle for Related Cos chairman Stephen Ross, has acquired a minority stake in Chang’s Momofuku Holdings, the New York Post reports. The size of the stake hasn’t been disclosed.
Momofuku has four locations in NYC with a fifth planned for South Street Seaport’s 2017. Chang told the Post he was looking for a partner who could help the restaurant expand even further, and Ross, worth $12B, fit the bill.
Independent of Ross’ prominent real estate company, RSE has made several interesting investments in the past, including Vayner Media, a drone-racing league, and RESy, an online restaurant reservation service that it co-founded with Eater.com co-founder Ben Leventhal, CrowdTwist co-founder Michael Montero and Vayner Media’s Gary Vaynerchuk. Ross also is the majority owner of the Miami Dolphins. [NYP]