Ask Capiva SCFoodTech · SAFE · UAE · direct investment · first invested Mar 2021
Sauce Capital
ActiveInvested$54.5kat cost · 1 ticket
Current mark$301kworkbook · 8 Sep 2025
MOIC5.53xon paper
Ownership0.5%implied by the workbook mark
Next round—none recorded
IRR46.1%workbook, per ticket dates
Thesis vs. reality · what we underwrote at entry, measured against now
What must be trueEach claim is what the company said would be true, checked against the filed accounts and later updates. A claim with no second source stays on watch.
No entry thesis on fileNo Incubayt investment memo for Sauce Capital is in the data room, so there is nothing to measure against. Not recorded
Latest event · May 2025
Share-swap merger with Epik Foods completed (conditions subsequent pending); values Sauce Capital at USD 57m; Sauce Capital owns 7.5% of Epik Foods. Planned secondary sale / partial exit did not close. Founder's role terminated for cause; first-round investors' holdings rise by over 11% at no cost.
Watch & flags
What to keep an eye on
ClearNo open data issues for this holding.
Our position
PositionIncubayt's tickets and marks come from the IRR workbook; the legal entity from the company's cap table or registers.
InstrumentsSAFE $54.5k (Mar 2021)
Company valuation$57.00mm · workbook
BoardNot recorded
Legal entityNot recorded