W23

W23 Global is a venture capital fund backed by five grocery retailers: Ahold Delhaize, Tesco, Woolworths Group, Empire and Shoprite Group. Established in 2024 with US$125 million over five years, it is registered in London and led from Sydney. Portfolio companies gain access to the retailers' markets across the US, Canada, UK, Europe, Australia, New Zealand, Indonesia and Africa, with the retailers' CEOs on the investment committee to help founders test and develop ideas quickly. Companies stay free to contract with any customer. It focuses on grocery retail technology, including personalization, supply chain, sustainable packaging, agricultural biodiversity and food tech. Investments include Protex AI and Spero Foods; earlier W23 Australia investments include Marley Spoon, Eucalyptus, Longtail UX and All G Foods. It backs early- to growth-stage start-ups and scale-ups deploying technology to enhance customer experiences, transform the grocery value chain and address sustainability challenges. W23 also seeks out entrepreneurs to solve identified grocery problems. Reported check size is $1 million to $20 million. W23 doesn't publish a check size on its site, so that range comes from a third-party investor directory. Please verify it before quoting it. The portfolio names come from press coverage and directories, since the site doesn't list them.