The ProVen VCTs announce that they have provided further funding to Farmer J, the restaurant brand redefining fast casual dining through its healthy, tasty and freshly prepared food, based on high-quality seasonal produce, as part of a £17.5m growth round.

The ProVen VCTs led a £5.5m investment into Farmer J in January 2024 to accelerate its expansion plans and strengthen its footprint throughout London. The brand has since delivered on its ambitious growth plans: sales grew by more than 55 per cent and EBITDA doubled across 2024, while the business has added five new sites across the capital since the ProVen VCTs’ initial investment.

Farmer J launched its first site in 2016, quickly establishing its reputation as a go-to lunch spot for Londoners. Its build-your-own ‘fieldtrays’ – which enable customers to select from a range of nutritious mains and sides sourced from high welfare, predominantly UK farms – have become synonymous with the elevated casual dining experience on offer at Farmer J. The business has since successfully expanded into serving breakfast, dinner, and weekend brunch. Its meals are also available online, and through Deliveroo.

Building on its breakout success in the UK, Farmer J recently announced that it would launch its first US site in New York before the end of the year. Beringea, the investment manager of the ProVen VCTs, whose footprint spans offices in the UK and the US, will be supporting the business throughout its transatlantic expansion, and leveraging its extensive network of advisers and partners in both geographies.

This investment round will support Farmer J’s continued rollout in the UK and the launch of its inaugural site in the US. The business is set to open three further UK sites this year, and the first international site in New York in December. The New York site is prime mid-town real estate, with 2,700 sqft, and there are plans for an East Coast roll-out in quick succession following the launch.

Stuart Veale, Managing Partner of Beringea and board director of Farmer J, commented: “Farmer J has consistently surpassed its ambitious targets and continued to deliver on its exceptional potential – it is now entering an exciting new chapter of expansion into the US, and we are delighted to be able to support Jonathan and the team on this journey.”

Jonathan Recanati, founder of Farmer J, said: “The popularity of Farmer J continues to grow and so does our business. We aim to bring Farmer J to as many people as possible, and launching into New York later this year is a big milestone for our brand and one that we are proud of. There is so much opportunity in the US in the fast casual space and the ongoing support of our investors will help to set us up for success in this market.”