There is increasing evidence to support our initial investment thesis: that an investable market exists where supply chains and social sustainability intersect, driven by market forces, regulation and technology. In this section of our website we present evidence that we are having the impact we intend.
Working Capital Fund was established in 2017 with a unique thesis about how to invest in technology that delivers improvements in working conditions, livelihoods and business sustainability. Since then, over two funds, we have sought and invested in startups that promise to deliver impact and scaled implementation with sustained revenue growth.
These investments deliver impact through a variety of business functions. We see evidence that our portfolio companies drive corporate adoption by facilitating efficient legal compliance, and by finding the link between impact and financial performance. Some engage workers directly to enable self-advocacy, organizing and grievance resolution. Others enable responsible sourcing by illuminating compliant and outperforming suppliers. Several of our portfolio companies generate proprietary data sets of value to the responsible sourcing system.
Among the outcomes we have seen resulting from the work of our portfolio companies are:
- Reduction in risk of forced and child labor;
- Improved gender equity in the workplace;
- Support for a Just Transition to a clean energy economy
- Increased financial wellness and progress towards living wages
- Sustained reduction in workers’ exposure to physical risks
- Finding and promoting new business processes and materials that are safer and fairer for workers and harvesters.
We committed from the outset to share our paths to impact. With the support of a team of external Developmental Evaluation specialists we built an impact measurement and management (IMM) approach that reflects the specific opportunities within our Fund. It is grounded in a systems orientation, and emphasizes engagement with the portfolio to make IMM useful to their businesses.
Each year, we share a detailed look at our Impact Management and Measurement processes and findings. Our 2024 Annual Report is now available and can be found under Reports. Our goal is to present progress and outcomes in context, sharing both metrics and the insights behind them. We assess impact at both the individual company and portfolio levels, and we continue to share our broader reflections and learnings. Where applicable, we identify alignment with the United Nations Sustainable Development Goals (SDGs) and incorporate standardized metrics—particularly from the Global Impact Investing Network’s IRIS+ framework.
