Austin-based Fired Up owns and operates Johnny Carino's Country Italian restaurants and Gumbo's Louisiana Style Cafe. The proceeds from the stock sale will help the company-owned restaurants and support its 250 franchise agreements.

Fired Up hired Minneapolis-based US Bancorp Piper Jaffray in December to find a financial partner. US Bancorp took a piece of the action and also recommended Rosewood, a venture capital firm based in San Francisco, to which Fired Up's executives agreed. "We knew right away this was a long-term relationship that could add great value to us both and help Fired Up meet its strategic goals," said Norman Abdallah, co-CEO and president of Fired Up.

Rosewood's food-related investments include Gardenburger, Jamba Juice and Rubio's Baja Grill. Fired Up Inc. has 50 company-owned and franchised restaurants including Johnny Carino's Country Italian, Gumbo's Louisiana Style Cafe and The Brown Bar in Texas.