A Women-Only Australian Venture Capital Scheme Has Made Its First Investment

The Scale team. Photo: Supplied

Scale is a new Australian seed-capital investment venture that is just for women.

And it has made its first investment, in Paloma, a mobile company that allows people use applications requiring a lot of download power on mass-market smartphones.

From Scale’s release:

Paloma Mobile has developed a cloud-based technology platform that enables rich-media services to be delivered to mass-market smartphones even when these devices are running on low-speed (2G) networks. There are expected to be more than 1 billion entry level smartphones users by 2016.

Fifteen Scale “Angels” have invested $655,000 in Paloma as part of a $1m capital raising, according to a statement.

Scale also said that series A investors OneVentures and Roger Allen followed on their initial investment in this round, confirming their confidence in the Paloma team and value proposition.

Scale, founded by Susan Oliver, Carol Schwartz and Annette Kimmitt last year, aims to connect rich Australian women with good investment opportunities.

After attracting 34 Angel investors in Melbourne, Scale plans to recruit Angels in Sydney this year.

Find out more about Scale here.

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