Capital & Partnerships.
Pearl Capital Fund is the underwriting arm of Pearl Hospitality — a private vehicle that operates and owns the rooms beneath each concept. We are selectively open to long-horizon partners.
One room at a time.
Pearl Capital Fund underwrites every Pearl on cash flow first — not on a fund clock. We've grown the strand from a single concept to eight, while also acquiring the real estate underneath several of our most stable rooms. The result is a portfolio that combines operating margin with long-term ground.
We bring partners in deliberately, room by room. Some are equity partners on an LLC; some are real-estate co-owners; some come in at the fund level. We've never raised a blind pool, and we don't plan to.
If you operate in restaurants, real estate, or the broader Southeast hospitality market and would like to talk — we keep a short list.
Portfolio Snapshot — March 2026
| Entity | Type | Market | PCF Equity |
|---|---|---|---|
| Operating · Pearl-branded | |||
| Norikase | Operating | Jacksonville | $750,000 |
| Izakaya Ko | Operating | Jax Beach | $600,000 |
| Koto LLC | Operating · Opening | Jacksonville · LaVilla | $875,000 |
| Beachside (Dr. Beachside LLC) | Operating | Jax Beach | $480,000 |
| Cafecito | Operating | Riverside | $150,000 |
| Davoli's Catering | Operating | Jacksonville | $360,000 |
| Operating · Other Hospitality & F&B | |||
| Norikai (Norikawa LLC) | Operating | Jacksonville · Riverside | — |
| Zoto Sarasota | Operating | Sarasota | $350,000 |
| Wing It Jax | Operating | Jacksonville | $235,000 |
| Makai | Operating | Jacksonville · Riverside | $30,000 |
| Lavilla Market | Operating | Jacksonville · LaVilla | — |
| Real Estate Holdings | |||
| AR & JR LLC | Real Estate | Jax Beach | $230,000 |
| 2695 Post Street LLC | Real Estate | Riverside | $125,000 |
| Tasty Kitchens LLC | Real Estate · Catering | Jacksonville | $150,000 |
| Active Pipeline | |||
| Bagels R Us | Acquisition | Jacksonville | — |
| Soupa! Noodle Bar | Acquisition | Southside | $350,000 |
| NK Omakase Jax Beach | New Build | Jax Beach | $450,000 |
| Wing It St. Augustine | New Build | St. Augustine | $100,000 |
| Fat Boy St. Augustine | New Build · RE Potential | St. Augustine | $70,000 |
| 927 / 923 W Forsyth | Real Estate | Jacksonville · LaVilla | $500,000 |
| 2435 Rolac Road | Real Estate | San Marco | — |
Source: PCF Org Sheet, March 2026 — selected lines, full file available under NDA.