Wealthy investors are piling cash into new restaurants in an attempt to find the next Giraffe, or the next Jamie taking advantage of an Enterprise Investment Scheme offering income and capital gains tax relief.

According to Gary Robins, a partner at Chancery Investment Partners, many private investors regard the restaurant sector as an interesting play on economic recovery and rising consumer spending. “With British food and British chefs’ international reputation improving dramatically in recent years, coupled with the rise of successful midmarket chains, investment in restaurants is now seen as more rewarding,” he said.

Mr Robins believes that investors were keen to emulate the success of the popular Byron chain. It was sold for £100 million in October, only five years after it was founded by the entrepreneur Tom Byng.

EIS investments in restaurants and catering businesses have soared by 61 per cent over the past year, with companies in the sector raising £114 million from individuals making use of the tax breaks.

Under the scheme, which has also boosted the technology industry, investors can benefit from an upfront 30 per cent income tax rebate on money they invest, as well as an exemption from paying capital gains tax on the investment if they hold it for more than three years.

In total, more than 2,500 businesses have raised more than £1 million through EIS in the past 12 months.