I've been keeping tabs on the Pipeline Fellowship since it first started last year because I thought it was such a great idea and potentially something I would want to apply to down the road. The goal of the Pipeline Fellowship is to train female philanthropists to learn how to become good angel investors and invest in woman-led social ventures. Similar to a female startup accelerator, which aims to promote more female entrepreneurs, the Pipeline Fellowship's goal is to increase both the number of female investors while helping female entrepreneurs raise money. The Pipeline Fellowship just announced their new class of 20 fellows and all the women have very impressive backgrounds: http://www.betabeat.com/2012/01/23/female-led-angel-investor-boot-camp-announces-2012-fellows/
They also just recently opened a second location outside of NYC in Boston. The investment they made last year was in a company called PhilanTech, which provides an online grants management system. It will be very interesting to track how the group does as they make more and more investments in female-led for profit ventures.