Working Capital Fund

Thanks to For the Long Term and the Omidyar Network for hosting a thought-provoking forum and pitch competition on generative AI and labor surveillance! We at Working Capital are so proud to share that one of our partners, Ed Marcum, won the pitch competition, where fund managers presented pitches on the intersection of AI and the workforce to an audience of investors representing over $1T in capital. In his presentation, Ed shared the great work of our portfolio company, CompScience, a Computer Vision company that uses existing camera infrastructure in a facility to identify systemic safety risks (while respecting privacy), and provide incentives for remedy through reduced workers’ comp costs. CompScience has demonstrated a meaningful impact for workers, as well as a ‘Return on Impact’ for clients. For example, in 2023, CompScience reduced workplace injuries by 63% in one facility, leading to $250K in savings. Working Capital Fund is invested in worker wellbeing and safety, and we invest in many other impact verticals focused on technology to reduce inequality and build responsible, sustainable global supply chains. We look forward to being in conversation with colleagues and brilliant minds alike in raising questions about the protection of labor rights and how technology and tools can serve as tools to promote decent work. #DecentWork #LaborRights #GenerativeAI

Congratulations to our portfolio company Altana on their $200M Series C raise, enabling them to reach unicorn status! Altana has created the world's first value chain management system, helping their clients build trusted networks of partners throughout global supply chains. Altana's mission, aligned with ours, is to transform global trade so that it improves national and economic security, reduces climate harm, and eliminates forced labor. We are proud to have been the first institutional investor in Altana's earliest round. We're excited to continue our partnership with Altana as they make supply chains more transparent, resilient, efficient, and fair. Congratulations to Evan Smith, Peter Swartz, Raphael Tehranian, and Amy Morgan!! 🎉

Guided by the opportunities laid out by the International Labor Organization, we align with the principles of Just Transition and invest in companies that protect workers and farmers in high-risk sectors, foster economic transformation, and ensure compliance with climate and human rights obligations. By promoting fair and inclusive environmentally sustainable economies, creating decent work opportunities, and engaging in effective social dialogue, we maximize the social and economic benefits of climate action while managing challenges and respecting fundamental principles and rights at work. 🔹 A multinational energy company has used Kenzen wearables as a mandatory piece of PPE for over 500 emergency responders since 2022. In those two years they were able to eliminate heat related illnesses. 🔹 Provenance advised a leading UK beauty and skincare company against claiming they used “Renewable Energy” because their energy came in the form of unbundled REGOs (their provider purchased normal mixed energy and renewable energy certificates separately). The company subsequently switched to genuine 100% renewable energy in order to accurately make the claim. 🔹 Twinco is also influencing buyers by providing a more comprehensive perspective on supplier risk, including E and S data, and hope to shift buyer assessment of supplier risk from a binary assessment to a nuanced understanding of actual supplier risks and how well suppliers are mitigating their specific risks. 🔹 In 2023 TTM’s platform saved 643,000kWh of energy, avoided 107,000kg carbon emissions, conserved 12M liters of water, and eliminated 42,000 grams of pesticides by manufacturing with organic and recycled material.  🔹 OpenSC's partnership with a coffee company securely and digitally tracks every bag of coffee from 1,184 smallholder farmers in the AMKA cooperative in South Kivu, Congo. The tracking includes digital payment verification for living income, ensuring timely and correct payments. This reduces economic insecurity for farmers and decreases the likelihood of their engaging in deforestation activities to supplement their income. https://lnkd.in/dAfJtqPy

Forced labor generates $236 billion annually, exploiting millions of workers. Our investments are focused on eradicating this grave injustice through innovative solutions and partnerships. Read about our efforts to combat forced labor. At WCF, our commitment to addressing worker exploitation across global supply chains is reflected in the impactful work of our portfolio companies. By focusing on forced and child labor and other worker vulnerabilities, we are driving systemic change and promoting ethical practices. Key initiatives include: 🔹 Quizrr's global workforce database has trained over 105,000 people in responsible recruitment practices, with a strong focus on migrant workers. 🔹 ToTheMarket provided 13,230 workers with decent and inclusive work in 2023, creating over 45,000 fair wage hours in certified facilities. 🔹 Altana's Atlas tool has identified nearly 1 million entities tied to forced labor in China, driving regulatory change with U.S. Customs and Border Protection. 🔹 Diginex's LUMEN tool illuminates forced labor risks within FMCG and construction sectors, enabling transparency and remedy. 🔹 Prewave offers visibility into sub-tiers of supply chains, aiding in the detection of forced labor risks and supporting compliance with the UFLPA. 🔹 Ulula's Worker Voice Program engages suppliers in Cambodia and Pakistan, ensuring safe working environments and fair treatment. 🔹 Versed.AI provides granular location data to clients, helping identify forced labor risks based on production locations. 🔹 HonestJobs invests in startups targeting migrant and domestic workers, saving workers significant fees through fair recruitment practices. These efforts underscore our dedication to ethical supply chain management and the protection of vulnerable workers. Together, we are paving the way for a more just and equitable global workforce. https://lnkd.in/dAfJtqPy

Did you know that only 2% of venture capital dollars are invested in women-led and founded companies? At WCF, 48% of our investment dollars go toward female entrepreneurs. Out of all of our portfolio companies, 56% are shepherded under female leadership. Empowering women is at the core of our mission to drive inclusive growth and innovation. Beyond supporting our portfolio companies’ female leaders, our portfolio companies are also making significant strides in promoting fair recruitment, empowering female workers, and fostering safe and inclusive environments. Key highlights include: 🔹 ToTheMarket onboarded 70% women-owned suppliers in 2023, with 60% of orders filled by women suppliers. 🔹 Quizrr's educational platform empowers female workers to become leaders, line managers, and worker representatives. 🔹 Twinco Capital offers working capital to the apparel sector in Bangladesh and Pakistan, where over 50% of workers are women. 🔹 Diginex implemented a gender module to help corporates detect and address gender inequalities and harassment in supply chains. 🔹 Ulula educates clients on worker grievance trends, highlighting issues such as sexual harassment and the reluctance to report them. 🔹 Kenzen's gender-inclusive heat stress technology pilot supports workers in sectors where women are often underrepresented, such as construction and mining. 🔹 HonestJobs invests in responsible recruitment ventures in Malaysia and Indonesia, providing fair employment for migrant workers in domestic work, a sector dominated by women. 🔹 Provenance promotes 66 female-led companies through consumer-facing Proof Points. 🔹 OpenSC provides safe spaces for women farmers to access financial services and ask questions related to mobile money. These companies are driving impactful change and demonstrating the power of gender-inclusive investing. Learn more about our commitment to gender equity in our 2023 Annual Report: https://lnkd.in/dAfJtqPy #ImpactInvesting #GenderEquity #WomenLed #FemaleEntrepreneurs

Thanks very much to Harry Davies for featuring our 2023 Annual Report as an IMM example in his Impact Investing Digest! 📖 https://lnkd.in/dAfJtqPy

At WCF, we invest in technology to reduce inequality and build responsible, sustainable global supply chains. Our portfolio companies are at the forefront of identifying, addressing, and preventing adverse human rights outcomes. These figures highlight our commitment to driving meaningful change and fostering ethical practices across global supply chains. Read more in our 2023 Annual Report: https://lnkd.in/dAfJtqPy #ImpactInvesting #ForcedandChildLabor #JustTransition #GenderEquity #MigrantWorkers #DecentWork #WorkerSafety

We have long recognized the critical importance of human rights due diligence (HRDD) legislation in shaping the future of responsible supply chains. Our foresight into the evolving regulatory landscape has been instrumental in driving the success of our portfolio companies. By anticipating and preparing for HRDD requirements, our portfolio companies have been able to align their operations with emerging legal standards, ensuring compliance and enhancing their market competitiveness. This proactive approach has not only mitigated risks but also opened new opportunities for growth and collaboration. As HRDD legislation continues to gain momentum globally, WCF remains committed to supporting companies that lead the way in human rights and responsible supply chain management. Together, we are building a future where business success and human rights go hand in hand. See more through our Annual Report: https://lnkd.in/emqzuTQU #SupplyChainTransparency #HRDD #AnnualReport