Mendes – who runs Taberna Do Mercado in Spitalfields and is executive chef at The Chiltern Firehouse – launched a funding campaign on Seedrs in November aiming to re-open the restaurant at Metropolitan Wharf in Wapping in Autumn 2016.
Investors were to be given a 33 per cent equity stake in the business with minimum investment starting at just £10.
But the chef has now taken down the page and is reportedly seeking funding elsewhere.
Mendes said in a statement: “The crowdfunding campaign was an exciting platform to measure peoples appetite for Viajante, while we did not reach our ambitious target, it has provided such international awareness for the project that we are now exploring other exciting avenues of investment. More updates to follow in the near future.”
The Portuguese chef closed the original Bethnal Green Viajante site in February 2014 after four years.
The restaurant won a Michelin star within eight months of opening in 2010 and was ranked the 59th best restaurant in the world in 2013.