Malina VC venture fund has bought shares in the Doubleby coffee chain for 20 million rubles, co-founder of the fund Anton Pronin told RB.RU. The funds will be used to expand the coffee chain using a passive franchise model.
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This model involves attracting funding from investors and opening new coffee shops in the “Classic” and “Express” formats.
According to Pronin, Malina VC became the first investor in Doubleby with the new model, but soon the company will begin to actively attract them. As part of the passive franchise, Doubleby plans to receive up to 350 million rubles for the development of a network of up to 120 outlets. Currently, the chain has 65 coffee shops in Moscow, Irkutsk and Makhachkala.
“For us, this is not a risky investment, but rather a diversification of the portfolio. The passive franchise model is an innovation in itself and we believed in it. We look forward to long-term cooperation with the Doubleby team,” Pronin said of the deal.
Malina VC will not be actively involved in Doubleby’s management, which will be handled by the chain’s management company JSC Doubleby Coffee Houses. The fund owns shares and receives passive dividend income from the financial results of the new establishments. Pronin said that Malina VC expects a return of 25-30% per year.
The financial model of the passive Doubleby franchise is designed until 2029, after which Malina VC intends to support the parent company JSC Doubleby Capital with plans to conduct an initial public offering (IPO), Pronin added.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
