Investment manager Chelsea Newell and executive consultant Samar Mcheileh are now leading the company as co-chief executives.
Ms Newell has overlooked Scale’s investment team since 2018 and will continue to lead the company’s investment pipeline. She has a reported eight years’ experience in the financial services industry, having worked across wealth management and brokerage businesses in London.
Meanwhile Ms Mcheileh has supported the company in strategy, operations, compliance and reporting since 2019. She has worked in financial services for 10 years.
Both of the women previously worked with JBWere.
The pair have replaced retired CEO Ariane Barker, a former general manager of products and markets with JBWere.
In an email announcing the appointments, founding chair Susan Oliver commented: “The board are very proud to have attracted, nurtured and now promoted these talented professionals and are confident that their appointment will ensure ongoing growth and continued success for the business.
“…I am very proud of what we have achieved thus far and the enthusiasm in which Chelsea and Samar have taken up the opportunity to continue developing our business, the engagement of angel investors and the success of our investment portfolio.
“The board of directors are confident for this next chapter and will play a supportive role during the transition period.”
Scale Investors aims to back businesses founded by women, noting that 3 per cent of venture capital funds currently go towards female founders. The proportion was 1 per cent in 2019.
Since it was founded it 2013, it has managed to invest more than $12 million in private capital into women-led businesses.
