Someone’s in the kitchen with David Chang. It’s Stephen Ross, and he’s brought money. Lots of it.
The Related Companies chairman and Matt Higgins, through their investment vehicle RSE Ventures, have bought into Momofuko Holdings, the New York Post reported. The size of the minority stake is not clear, but Chang will retain control of Momofuko.
“The end goal was always to find a partner who would help support our businesses and allow us to continue to grow, and we think that is Steve and the RSE team,” Chang told the Post. “It’s something we’re very excited about.”
In New York, his restaurants include Momofuku Ko, Noodle Bar and a planned location in the South Street Seaport.
RSE, which isn’t part of Related, has also invested in Vayner Media and a New York-based drone-racing league.
“David is one of our most important young chefs and is truly shaping the future of food and the way we will eat for generations to come,” Ross told the Post. “He has built a strong brand. Through RSE, we will help strategically grown the company.” [NYP] — Kathryn Brenzel