W23 Global

W23 Global is a corporate venture capital fund established in 2024, backed by five prominent grocery retailers: Tesco, Ahold Delhaize, Woolworths Group, Empire Company Limited/Sobeys Inc., and Shoprite Group. The fund focuses on investing in start-ups and scale-ups that deploy technology to transform the retail sector and promote sustainability. With a global presence spanning the United States, Canada, the United Kingdom, Europe, Australia, New Zealand, Indonesia, and Africa, W23 Global leverages its investors' extensive networks to accelerate the growth of its portfolio companies.

The fund's investment strategy targets early to growth-stage companies operating in sectors such as retail technology, sustainable packaging, and agricultural technology. By providing capital and strategic support, W23 Global aims to drive innovation in the grocery value chain and address sustainability challenges within the industry. The fund's investment committee includes the CEOs of its five founding retailers, ensuring alignment with the strategic interests of its backers.

W23 Global's portfolio includes investments in companies like Protex AI, a provider of AI-powered workplace safety and operations solutions, and Spero Foods, a women-founded company specializing in plant-based products. These investments reflect the fund's commitment to supporting innovative solutions that enhance retail operations and promote environmental sustainability.