W23 (venture capital)

W23 is a venture capital fund for the grocery and retail sector. Five major grocery retailers back it and sit on its investment committee, which gives the start-ups it funds a route to markets around the world.

What W23 offers

• Venture investment: funding for start-ups and scale-ups using technology to change retail.
• Access to retailer networks: pathways to scale through the backing groups.
• Start-up support: a foundry of start-ups and scale-ups the fund works with.
• Sustainability focus: an emphasis on companies aiming for a better planet.

Who it serves

Technology start-ups and scale-ups in retail, with activity in Europe, the United States and Indonesia. The backers are Ahold Delhaize, Tesco, the Woolworths Group, Empire and the Shoprite Group, which together cover the US, Canada, the UK, Europe, Australia, New Zealand, Indonesia and Africa.

Key facts

• Type: Corporate-backed venture capital fund
• Backers: Five grocery retailers