Volume 92: From Incarceration to Innovation: The Rise of Justice Tech
About ImpactPHL Perspectives:
ImpactPHL Perspectives is a multi-part content series that explores the many facets of the impact economy in Greater Philadelphia from the perspectives of its doers, movers, shakers, and agents of change. Each volume is written directly by a leader in this space to discuss best practices and share lessons learned while challenging our assumptions about financial and impact returns. For more thought leadership like this, check out the full catalog of ImpactPHL Perspectives.
Lawrence Williams III, Co-Founder & Managing Partner, De-Carceration Fund
In America, nearly two million people are incarcerated. The United States has the largest total number of incarcerated people in the world, and as of 2022 it ranked among the top 5 nations in incarceration rate, about 541 per 100,000 people. Each year, over 650,000 return home, eager to rebuild, ready to work, and often locked out of the very systems meant to support their reintegration. Despite decades of policy reform, the barriers to reentry remain steep. Criminal records limit access to jobs, housing, and capital. A single misstep can trigger a cycle that feels impossible to escape.
The human cost is immense. But so is the untapped potential. At the De-Carceration Fund, we believe returning citizens are not a burden to manage. They are a generation of talent, leadership, and innovation waiting to be unlocked. We are investing in that future and building the infrastructure to scale it.
From Pain to Possibility: Why Justice Tech Matters
“The U.S. justice system is one of the most expensive and least effective public systems in American life.”
The U.S. justice system is one of the most expensive and least effective public systems in American life. We spend over $300 billion annually on policing, courts, and corrections. This is more than we invest in public health and higher education combined, yet recidivism and incarceration rates remain among the highest in the world. But what if we applied the tools of innovation, including technology, data, and design thinking, to shift that dynamic?
That is the promise of Justice Tech: ventures that prevent incarceration, reduce harm for those inside the system, and create real pathways for returning citizens to thrive. It is a new category, one that sits at the intersection of impact and infrastructure, where justice reform meets venture capital. Just as we have seen climate, education, and finance technologies reshape legacy systems, Justice Tech is reaching its inflection point. The only question is whether we will meet it with the imagination and the capital it deserves.
From Vision to Scale
“The De-Carceration Fund invests in Justice Tech ventures that deliver both returns and results.”
In 2020, we started with two portfolio companies and a question: could we build a new kind of venture fund to disrupt one of America’s most entrenched systems? Today, we have deployed over $3.5M across eight companies. We have generated more than $13M in measurable impact, with projections of over $541M by 2026. Our Impact Multiple of Capital (IMC) is projected to rise from 2x to 44.7x, demonstrating that Justice Tech is not just a moral cause; it is a scalable investment category.
Our Portfolio: Real Companies. Real Results. Real People.
The De-Carceration Fund invests in Justice Tech ventures that deliver both returns and results. We back companies that build new pathways to employment, reduce legal barriers, and protect people in moments of vulnerability.
Employment and Reentry: Untapped Solutions
3,744 sustained job placements (98% growth)
263 returning citizens supported into employment, generating $756K in public savings
849 individuals diverted from recidivism, saving $128.8M in community costs
Legal Empowerment: Easy Expunctions
2,156 criminal records cleared
218 new employment pathways opened, producing $626K in net economic benefit
1,258 individuals avoided re-arrest (five-year recidivism rate of 7.1% vs. 66.1% state average)
Rights and Safety: TurnSignl
32,938 traffic stops supported
Over 210,000 lives covered
Nearly 200 potential arrests avoided, with average court cost savings of $18K per case
We also achieved our first portfolio exit: Uptrust, a platform that improved court communications and reduced missed hearings.
Why Founders Matter
“At the De-Carceration Fund, we believe returning citizens are not a burden to manage. They are a generation of talent, leadership, and innovation waiting to be unlocked.”
Approximately 77 million Americans, or nearly one in three adults, have a criminal record, which can include an arrest, charges, or a conviction. These records create lasting barriers to jobs, housing, occupational licensing, and higher education. A year after returning home, 75% of formerly incarcerated people are still unemployed. This is not a talent problem. It is a systems problem, and the people best positioned to solve it are the ones closest to it. That is why a majority of our portfolio companies are led by BIPOC or justice-impacted founders. They do not need to guess what is broken; they have lived it. Their solutions are grounded in lived experience, cultural fluency, and the kind of resilience that cannot be taught. We believe in backing these founders with more than capital. We back them with trust, infrastructure, and the right to build what the system failed to.
My Lens and the Work Ahead
I grew up in Philadelphia with a mother who served as a teacher, police lieutenant, and Air Force veteran, and a father who was an investor and entrepreneur, helping to build one of the nation’s first Black-owned investment banks in America. My years at Howard University reinforced those values and shaped my perspective on the world. I learned early what systems can do to people, and what people can do to systems. The De-Carceration Fund is my way of merging those lessons. To turn punishment into possibility. To turn underinvestment into ownership. To turn justice into an innovation economy. But this movement is not ours to carry alone.
A Fund Wasn’t Enough, So I Built the Ecosystem
When Chris Bentley and I co-founded the De-Carceration Fund in 2020, our goal was bold but focused: to invest in ethical, scalable companies that could end mass incarceration at the root. But I quickly realized that capital alone could not do it. The ecosystem around these companies did not exist yet, so I began building it.
I created Future Impact Leaders, a talent and exposure initiative to bring college students, especially from Philadelphia and other historically excluded communities, into the world of social impact, venture capital, and justice reform. In partnership with Haverford College, ImpactableX, and John Moore, we are building a new pipeline of founders, funders, and policy thinkers who reflect the communities most affected. I also founded the Equitable Innovation Institute (EII), a nonprofit platform that provides workforce development, reentry support, and wraparound services, ensuring the ventures we invest in can connect with trained, motivated talent from justice-impacted communities. Together, these programs form the infrastructure beneath the fund. Not just capital, but capacity, community, and credibility.
A Final Word for Those Watching
Justice Tech is no longer hypothetical. It is here. It is working. And it is scaling. We are calling on investors, civic leaders, policy champions, and builders to join us, not just because it is right, but because it is smart. This is where impact meets alpha, where capital meets conscience, and where we redefine what justice can look like and who gets to build it.
“Believing in justice means listening to perspectives different from our own and having empathy for experiences we have not lived, while working together in good faith to build a better future.”
At the De-Carceration Fund, our vision is rooted in the core ideals of a liberal democracy: individual liberty, protection from harm, consent of the governed, equality, and the rule of law. These principles transcend politics; they are the foundation of a just society. Believing in justice means listening to perspectives different from our own and having empathy for experiences we have not lived, while working together in good faith to build a better future.
I still believe that America can live up to its promise as the land of the free and the home of the brave, a land of second chances. The United States has the largest incarcerated population in the world, yet also one of the greatest concentrations of innovation and human potential. Imagine what it would mean if we invested in that potential instead of confining it. Our goal is not to avoid accountability but to prevent unnecessary incarceration, reduce harm for those within the system, and ensure that returning citizens have the tools to thrive.
My contribution to that vision is to use the tools I know best: capital, technology, and empathy. America is not only a land of winners; it is a land of unity. When we share our multicultural, financial, and educational strengths, outcomes improve for everyone. The justice system does not have to be defined by punishment. It can be a place of hope, reconciliation, and renewal. A rising tide lifts all boats, and by investing in the people and communities most impacted by the system, we strengthen the nation as a whole.
Lawrence Williams III is Co-Founder & Managing Partner of the De-Carceration Fund, leading portfolio strategy, investment sourcing, and ecosystem partnerships to expand equitable access to capital. In prior roles, he headed venture initiatives at Social Venture Circle, led Strategic Partnerships for KiwiTech/KiwiVenture Partners, and was CEO of The Moves. A frequent speaker on inclusive innovation (e.g., Mission Investors Exchange 2024), he holds a BBA in Finance from Howard University.