According to Blue Sky, it made the investment into the health-food business through its second venture capital fund Blue Sky VC2014.
Also investing into the business was former partner of New York-based Oak Hill Capital Partners, and Oroton former chairman Ross Lane.
Commenting on the investment, Blue Sky investment director Lachlan McMurdo said THR1VE had grown into a “well-respected brand with a loyal customer base”.
“THR1VE is positioned at the intersection of two rapidly growing segments of the restaurant industry – fast casual dining and health and wellness nutrition,” Mr McMurdo said.
“[THR1Ve’s founder and chief executive Josh Sparks] has a very strong track record managing global consumer brands and has developed THR1VE into a challenger brand in just three years.
“We’re excited to get on board to help take the brand further, and will support Josh and the team to open more stores in top-class locations around the country,” he said.
This is the second fast food business Blue Sky has invested in, which has also invested in Beach Burrito Company, a fast-food Mexican themed restaurant chain.
