EVEN CAPITAL AND NZGCP BACK PAM FOLLOWING ELECTRIFY ACCELERATOR PROGRAMME

Even Capital and New Zealand Growth Capital Partners (NZGCP)  have announced an early-stage trailblazer investment in PAM, an innovative personal admin manager app.

PAM, created by Wellington-based Nicole Retter, was selected from the twenty female-led startups that recently completed the Electrify Accelerator programme delivered by the Ministry of Awesome. Electrify Accelerator is tailored for female founders, supported by leading investors, the government, and startup enablers across the country.

PAM is a personal admin manager platform that does the mental admin juggle so parents (particularly mothers) can take a load off. PAM is your family’s own PA, an AI enabled App that removes that mental load that comes from managing a busy life. PAM is in beta trials and has a growing waitlist available at www.mypam.nz

“Electrify Accelerator brings together every corner of the startup and innovation ecosystem to give women founders the best possible chance to advance their startups. Electrify Accelerator is the first step towards achieving participation that better reflects our country’s population,“ said Electrify Chairwoman, Marian Johnson

Even Capital, the only female founded, funded and focused venture capital fund in Aotearoa, is passionate about investing in businesses that are not just created or run by women, but which also show enormous potential for commercial success.

Sarah Park, Co-Founder and Managing Partner of Even Capital, said the innovation and impact behind PAM could have a transformative effect for many families: “We are thrilled to support Nicole Retter, as PAM tackles the challenge of managing household admin. The opportunity to turbo-charge the trajectory for PAM through a meaningful early investment was a brilliant fit for us.”

NZGCP, a government-backed investment firm, is dedicated to investing in early-stage companies, with a special focus on supporting female investors and business owners. Their mission includes helping emerging female-led companies achieve international success.

Rob Everett, CEO of NZGCP, highlighted the importance of backing female entrepreneurs to ensure a diverse range of innovative ideas and products, which in turn, strengthens New Zealand’s start-up ecosystem and national economy. “Building the pipeline of women moving into the high growth startup and innovation ecosystem and launching start-ups is critical to the growth of this all important sector,” he stated.

PAM Founder & CEO, Nicole Retter, commented on the inspiration behind the app, “66% of mums in Aotearoa are ‘very’ or ‘extremely’ stressed from managing family admin. I’m sick of seeing highly capable women being crushed under this invisible weight. To address this problem, I’m building PAM (Personal Admin Manager), an app designed specifically to reduce and share the mental and physical load of family admin. PAM invites family and friends to join your village.”

Even Capital and New Zealand Growth Capital Partners (NZGCP) have invested $40,000 in PAM, in the form of a SAFE. This investment will provide the necessary funding to get the MVP launched into the market for early testing by an eager waiting list of users.

Thanks to Avid Legal for providing input and assistance into preparing the SAFE documentation.