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After supporting 363 crowdfunding rounds for female-led startups and delivering more than 10,000 mentoring hours, Melbourne-based platform Lift Women has just raised $1.3 million in a round backed by Singapore-based venture capital firm Braxton Capital Ventures.
Lift Women, which has previously secured investment from the LaunchVic-administered Alice Anderson Fund that focuses on female-led startups, was also backed in the latest round by former Alibaba ANZ managing director Maggie Zhou and former AXA Asia chair Gordon Watson.
The $1.3 million raise will fund expansion into Asia, especially Southeast Asia, Hong Kong and mainland China, while increasing program capacity by equipping founders with the tools, mentorship, and investment access needed to scale their businesses.
Lift Women founder Irene Tsang describes the current funding gap - with women receiving just 2 per cent of venture capital in Australia - as not acceptable, and her company is determined to change that by "empowering women to succeed on their own terms".
"This $1.3 million raise is an encouraging signal that closing the gender finance gap isn’t just a good cause - it’s a huge, untapped opportunity," says Tsang.
"It will accelerate our growth and enable us to reach more women in more markets, empowering their zero to one entrepreneurial journey. We want to be able to support as many women as we possibly can, who may otherwise not have access to the tools necessary to grow.
"As a single mother of two starting over in Australia, I’ve seen firsthand how women are often held back by unequal access to funding and opportunities."
Since its inception in 2021 the platform has facilitated hundreds of raises including for AI-powered personalised health assistant Ovum AI, biodiversity assessment tech company Xylo Systems, and recycling hub Circular Peninsula.
"Irene and her team are building the missing pipes for women founders globally - an on-ramp from idea to investability," says Braxton Capital Ventures managing partner Douglas Hudson. "We’re thrilled to back her in this mission, and help accelerate LIFTWOMEN’s expansion across Asia, particularly Southeast Asia, where our network is strongest."
"The team has already done an impressive job in funding and coaching thousands of women and this is just the beginning. Together, we are opening pathways for more women-led ventures to start and scale," Hudson adds.
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