Savory Fund has appointed restaurant industry veteran Clay Dover as chief executive officer and promoted co-founder Shauna K. Smith from CEO to managing director, the firm announced on Jan. 7th, 2026. The leadership shift is designed to strengthen Savory’s ability to support founder-led concepts while accelerating expansion across its portfolio, which includes Swig, Mo’ Bettahs, and Houston TX Hot Chicken.
Dover brings more than 30 years of experience, with executive roles at Raising Cane’s and Pei Wei, and most recently as CEO of Velvet Taco. At Raising Cane’s, he served as president and CMO, spanning strategy, marketing, and operations. At Velvet Taco, he guided rapid growth, expanding from four locations to 54 over nearly nine years.
Smith, who has led Savory for eight years as president and then CEO, will focus more heavily on value creation across brands and long-term investment strategy. Under her leadership, Savory grew to 13 portfolio companies that generated more than a reported $515 million in annual revenue and supported over 9,200 jobs in 2025. Founded in 2018, Savory Fund now spans 370-plus restaurants across 26 states.
