Leading grocery retailers announce joint venture
Leading grocery retailers announce joint venture
Five of the world’s leading grocery retailers have come together to establish a pioneering collaborative venture capital fund, W23 Global. The fund will seek to invest in innovative start-ups and scale-ups that deploy technology to enhance customer experiences, transform the grocery value chain and address the sector’s sustainability challenges. Each retailer — Ahold Delhaize, Tesco, Woolworths, Sobeys and Shoprite — is an equal funder and partner in W23 Global, while their CEO’s will sit on the investment committee.