Working Capital, a San Francisco, CA-based early stage venture fund that invests in innovative solutions to create ethical supply chains, closed its fund, at $25.2m.
The fund raised an additional $2.5m from the Children’s Investment Fund Foundation (CIFF) and Zalando.
Other partners and supporters include:
– Humanity United,
– 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.
The fund is also leveraging support from the UK’s Department of International Development in “Sidecar” grant funding for pre-investment and seed-stage interventions.
Led by Ed Marcum, managing director, Working Capital is exploring how emerging technologies such as machine learning, sensors and interconnected Internet of Things solutions can be brought to bear on supply chain labor rights risks.
It has already invested in companies that leverage technology to bring visibility and accountability to supply chains and increased agency for workers. Portfolio companies include:
– Provenance, a blockchain platform enabling traceability;
– Ulula, a software and data analytics platform to engage workers;
– QuizRR, an EdTech company which offers training solutions to advance worker knowledge and corporate accountability, and
– Sundar, an ethical sourcing platform that is transforming the fashion supply chain.