Working Capital

Working Capital is an early-stage venture fund dedicated to fostering innovation within global supply chains, with a distinct focus on ethical practices and worker well-being. Based in Redwood City, California, the fund strategically invests in technology solutions designed to enhance efficiency and transparency from raw materials to finished goods. Their investment thesis centers on addressing critical issues such as labor management, traceability, and worker voice, aiming to create more equitable and sustainable supply networks.

The fund operates at the seed to Series A stages, identifying promising startups that can leverage technology to drive positive social and environmental impact alongside financial returns. Working Capital is notably backed by influential philanthropic organizations, including the Omidyar Network, Humanity United, and the Walmart Foundation, which underscores its mission-driven approach. This backing provides the fund with a unique position to support ventures that align with broader social good objectives while pursuing market-based solutions.

Working Capital has demonstrated its commitment to this niche through its fundraising efforts and investment activity. The firm successfully closed its second fund, Working Capital Fund II, in July 2021, securing $17 million in commitments from its partners. This capital is deployed to support companies developing innovative tools in areas like predictive analytics for labor issues and platforms that empower workers. Typically, Working Capital provides initial checks ranging from $500,000 to $2 million, with provisions for follow-on investments to support portfolio companies as they scale. Their portfolio reflects a diverse set of solutions, all contributing to a more ethical and efficient global economy.