Working Capital Fund: How Venture Capital Can
Support a Just Transition

With $52 million raised across two funds, Working Capital Fund’s (WCF) portfolio evolution reflects a natural progression: from advancing responsible supply chains to supporting solutions that enable a just transition. With an investment thesis that targets opportunities at the intersection of regulation, market trends, technology, and supply chains, WCF has built a portfolio that increasingly connects labor rights and supply chain accountability with just transition solutions.

WCF incorporates human rights into its investment approach by supporting solutions for companies to effectively conduct human rights due diligence. WCF identifies supply chain vulnerabilities such as opaque procurement, the absence of first-mile worker data, and limited visibility into the lowest tiers, and targets innovative solutions to address those gaps, from worker voice technologies to supply chain mapping and risk intelligence platforms. Through fund design, WCF has shown that responsible business solutions that support a just transition can attract major corporate investors, scale globally, and generate successful exits.

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