The company, founded and developed by Living Ventures in 2011 and which opened its third site in Leeds last month, has secured a site in Liverpool's Albert Dock which Living Ventures co-founder Jeremy Roberts said was likely to open under the Botanist format.
"We will look to open that this summer," he told BigHospitality "and we are actively working on more sites in major cities and affluent locations to achieve our aim of getting 20 sites up and running in the next three to four years."
Roberts said the funding, which comes from the company formed by former Clapham House Group chief executive Paul Campbell, helped with the next stage of expansion and was 'excited' about the chance to take the business forward.
Following the move, Campbell, Roberts and Living Ventures’ Tim Bacon have been made non-executive directors of New World Pubco Limited and a dedicated operations team will work on expanding the brand.
"Paul has got a lot of experience within this sector and we have got to know him well over the years so it's good to be working with someone who believes in taking this business forward," Roberts said.
The Hill Capital Partners Food and Beverage Fund was set up by Campbell last September with the aim of helping growing UK-based restaurant and bar expand by investing between £1m and £4m in them.
Backed by private equity house LDC, it also holds stakes in Tortilla Mexican Grill, Hawksmoor, and Vinoteca.
Campbell said the latest investment was an exciting one: "As a customer I was immediately won over by the fantastic drinks and food, and also the unique décor of the pubs. I am excited to be supporting the expansion of this excellent business across the UK," he said.
New World Pubco
New World Pubco opened The Oast House in Spinningfields in Manchester last year, winner of Best New Site in this year's Publican Awards,following with The Botanist in Alderley Edge. Its latest site - The Botanist - opened on 29 March at the Trinity development in Leeds a day after the launch of Living Ventures' The Alchemist there.
Its Botanist branded pubs typically offer a wide range of local traditional cask and craft beers, a creative cocktail offering and a simple yet innovative food menu encompassing traditional pub favourites as well as items cooked on a BBQ and rotisserie – including the trademark Hanging Kebab.