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W23 functions as a global grocery retail venture capital fund, investing in startups and scale-ups developing technology for retail transformation and sustainability. Supported by five prominent international grocery retailers, the firm provides portfolio companies with strategic insights and accelerated pathways for global market integration. This model facilitates innovative retail solutions.
Formed in 2019, W23 stemmed from a strategic alliance of Ahold Delhaize, Tesco, Woolworths Group, Empire Company Limited, and Shoprite Group. The core insight involved a collective desire to advance retail innovation and sustainability through targeted investment. This powerful corporate backing provides unparalleled access to industry expertise and operational scale for its portfolio.
W23 seeks visionary founders developing solutions for critical retail challenges and environmental impact. The fund empowers these companies through strategic partnerships and direct access to vast retail ecosystems. Its long-term vision is to cultivate a portfolio that collectively shapes commerce, fostering economic value and positive global change.
W23 has 3 tracked investments across 2 companies. The latest tracked deal is $50.0M Other Equity in Eucalyptus in April 2023.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Apr 27, 2023 | Eucalyptus | $50.0M Other Equity | — | Blackbird Ventures, Mary Meeker |
| Jul 25, 2022 | Great Wrap | $11.0M Series A | — | Darren Thomas, Simon Griffiths, Giant Leap, Grill'd, Groundswell Ventures, Small Giants, Springbank Collective, Thai WAH Ventures, Emma Silverman |
| Jul 1, 2021 | Eucalyptus | $22.0M Series B | NewView Capital | Blackbird Ventures Australia, Bond, Craft Ventures, Great Oaks Venture Capital, GSV Acceleration, Maveron, Treble Capital, Nils Johnson, Steve Chen, Airtree Ventures |
