NEW YORK and AUSTIN, Texas, June 15, 2023 (GLOBE NEWSWIRE) -- Rellevant Partners, a New York based growth equity firm that invests in the restaurant, restaurant technology, food & beverage, and foodtech industries, announced today an investment in Tso Chinese Takeout & Delivery (“Tso”), based in Austin, Texas. Financial terms were not disclosed.
Tso, which currently operates four units throughout Austin, is uniquely positioned as a take-out/delivery only brand serving made-to-order, delicious, and affordable Chinese-American food in a contemporary setting. Founded by Min Choe and Angell Tsang in 2016, the concept is rooted in husband and wife Min and Jenna Choe’s extensive experience as successful restaurateurs in the Chinese category. Seeing the opportunity for a new generation of “to go” operators, they enlisted their friend Angell Tsang to build a technology platform to support that vision. As a result, Tso offers a superior experience than its competitors owing in part to free delivery via a company-operated delivery network, supported by proprietary technology that allows for more efficient execution.
“Chinese food is already a favorite cuisine for delivery. Tso combines a recognizable menu of high-quality dishes the consumer knows and loves, with a modern back-of-house, enabling an unparalleled delivery experience,” said Jessica Kates, co-founder at Rellevant.
“What Min and Angell have created is truly remarkable. Tso’s proprietary and state-of-the-art technology, developed purposely for the take-out and delivery markets, provides more features and data than available to other operators, giving the brand a huge advantage in a space that still boasts many single unit and traditional operators,” said Janice Meyer, co-founder at Rellevant.
“The Chinese food category holds immense significance within American cuisine,” stated Min Choe, co-founder & CEO. “Tso has revolutionized the industry by incorporating proprietary technology and innovative approaches to deliver unmatched convenience, while staying true to timeless recipes. The result is a scalable and endearing concept that evokes fond memories of cherished mom & pop establishments. We are thrilled to partner with Rellevant as we expand our footprint and our reach to bring our authentically Chinese-American cuisine and convenient format to more consumers.”
“Beyond providing growth capital, Rellevant's extensive experience in guiding rapidly growing restaurant brands positions us to surpass our competition and establish ourselves as the undisputed leader in our segment,” said Angell Tsang, co-founder & CTO.
About Rellevant Partners
Rellevant Partners is a female-founded private equity firm based in New York. Started in 2019, Rellevant leverages the decades of experience of its founders and deep industry contacts to fortify and guide young brands and entrepreneurs to help them achieve their growth goals. For more information, please visit https://rellevant.com/
About Tso
Founded in 2016 by Min Choe and Angell Tsang, Tso operates four delivery/take-out stores in the Austin market, with multiple units in progress. Offering online ordering, free delivery and a strict no-tipping policy, Tso provides one of the best, value-driven delivery services of fresh Chinese-American food anywhere. The Public Benefit Corporation is also committed to helping the communities it serves through #TsoGiving, and as a result was named a General Business Award honoree by the Austin Chamber of Commerce. Co-founders Min Choe and Angell Tsang also were named “Inspiring Leaders” by Austin Business Journal. For more information, please visit https://tso.company/
Contact:
Rellevant Partners
Jessica Kates
jessica.kates@rellevant.com
Janice Meyer
janice.meyer@rellevant.com
