Chubby Group Closes $50M Series A Led by Prysm Capital at $500M Valuation; Signs Deal to Purchase 47 GEN Korean BBQ Restaurants
PR Newswire•15/10/2026•10:54 ET
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Key Highlights
- ➤$50M Series A values Chubby Group at $500M, led by Prysm Capital
- ➤Chubby to acquire GEN Korean BBQ’s 47 restaurants and four sites for up to $100M
- ➤GEN receives a note convertible into Chubby equity at a $1.5B valuation
- ➤Chubby targets 30 new Mr. Chubby and Chubby Bowls locations in 2027
- ➤Chubby projects $400M full-year 2026 revenue, up from $233M in 2025
Expert Statements
David Zhao, Co-founder of Chubby Group
“We've built Chubby by investing in better ingredients, hospitality and value for our guests, and our Chubby Club members have become our biggest champions”
David Zhao, Co-founder of Chubby Group
“Prysm's investment and the addition of GEN's 47 restaurants to our ecosystem will let us do that at a much bigger scale and reinvest the efficiencies we gain in the guest experience.”
Matt Roberts, Co-founder and partner at Prysm Capital
“We've watched Chubby Group grow from 20 to 70 locations while staying profitable.”
Matt Roberts, Co-founder and partner at Prysm Capital
“They own everything from the supply chain to the in-house design to the loyalty program.”
Matt Roberts, Co-founder and partner at Prysm Capital
“Chubby Group turns this structural advantage into a fantastic experience at a great value for their customers, which is why they keep coming back.”
Matt Roberts, Co-founder and partner at Prysm Capital
“And now every additional restaurant expands this edge.”
Chubby Group Closes $50M Series A Led by Prysm Capital at $500M Valuation; Signs Deal to Purchase 47 GEN Korean BBQ Restaurants PR Newswire
The agreement with GEN Restaurant Group and Chubby's first institutional funding round position it as one of the largest Asian dining groups in the U.S.
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