W23 is a venture capital fund backed by five major grocery retailers across different continents—Woolworths Group, Tesco, Ahold Delhaize, Empire/Sobeys, and Shoprite Group—that evolved from a single-corporate venture arm into a collaborative fund where competing grocers cooperate on investments. The fund focuses specifically on grocery and retail technologies like supply chain, automation, and retail media, offering portfolio companies direct access to deploy their solutions across multiple major grocery banners simultaneously rather than working with just one retailer.