Humanity United Launches $23M Venture Fund

Humanity United, a foundation that is part of The Omidyar Group, has launched a $23m venture fund to invest in ethical supply chain innovations.

Working Capital is an early-stage venture fund aimed at accelerating supply chain innovations to enable corporations to operate more transparently and ethically around the world.

To create this fund, Humanity United teamed up with brands, foundations, and impact investors including Walmart Foundation, C&A Foundation, Stardust Equity, Open Society Foundations (Soros Economic Development Fund), The Ray and Dagmar Dolby Family Fund, and The Walt Disney Company. Working Capital will also leverage support from the UK’s Department for International Development in “sidecar” grant funding for pre-investment and seed-stage interventions.

Led by Ed Marcum, Managing Director, the fund focuses on product traceability, worker engagement, sourcing platforms, risk assessment, and ethical recruiting tools by investing in emerging technologies such as blockchain, machine learning, artificial intelligence, digital identity and Internet of Things (IoT) solutions.
It has already invested in companies, including:
– Provenance, a technology platform that uses blockchain to enable brands, suppliers, and stakeholders to trace products along their journey from producer to consumer; and
Ulula, a software and data analytics platform that allows organizations to engage with workers in real time to measure and monitor labor-related risks, creating more responsible global supply chains.



Join the discussion