The round was led by Prysm Capital at a $500 million valuation to fund the growth of the portfolio. The company also announced it signed a letter of intent to acquire GEN Korean BBQ's 47 U.S. restaurants and four development sites from GEN Restaurant Group (Nasdaq: GENK) in a transaction valued at up to $100 million. The acquisition is expected to significantly expand Chubby's reach and footprint, positioning it as one of the largest Asian dining groups in the U.S.

Chubby Group is a U.S.-based restaurant and hospitality company behind Chubby Cattle, Wagyu House, The X Pot, NIKU X, Chubby Skewers, and Chubby Bowls. Its vertically integrated platform combines direct sourcing and supply chain operations with restaurant development, brand services, and the Chubby Club membership program. Across its portfolio of Asian-inspired dining concepts, Chubby Group focuses on delivering premium ingredients, compelling value, and distinctive guest experiences.