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Angels Descend on Addis!

By Emily Ziethen | Tue Feb 28 2017
2017 has already proven to be a busy year, with RENEW hosting an Econ-Tourism Trip for members of the Impact Angel Network from Delaware, Colorado and the United Kingdom this past week. The group met with Ethiopian entrepreneurs, from both RENEW’s portfolio and investment pipeline, and visited a number of businesses in and around Addis Ababa.
The investors were introduced to companies spanning multiple sectors – from commodities and food manufacturing to textiles and consumer goods several of which are being considered for upcoming investments. The group also visited current portfolio investments of the IAN, including Desta, Mama Fresh, METAD and our Ethiopian sesame company.
One of the many highlights of the trip was the first ever SME pitch session hosted by RENEW at The Exchange, wherein carefully selected entrepreneurs presented their companies to the participating angel investors. This event made the company visits that occurred later in the week by the investors more productive and provided them with them background required to ask the right questions. This, in turn, engendered interest and confidence in investors’ minds regarding the potential financial and social impact of the opportunities. The pitch event was followed by a happy hour and networking event at the Exchange with development partners and members of the Addis Ababa business community.
Throughout the trip, the group experienced Ethiopia’s rich history, culture and delicious cuisine. During the first day, the entire group went on a sightseeing tour of Addis Ababa, took a look back in history with a stop at the National Museum of Ethiopia, home of the infamous Lucy skeleton, and went on a food and drink tour with local food guides from Go Addis Tours. Later in the week, Mama Fresh hosted the investors for lunch at their visitor’s center and several members also spent some time exploring Lalibela’s famous 11 monolithic rock-hewn churches.
RENEW is in the midst of planning the next Econ-Tourism Trip, which is slated for
September 17-22, 2017
. Contact us to learn more about participating in an upcoming Econ-Tourism Trip!
Renew Capital is an Africa-focused impact investment firm that backs innovative companies with high-growth potential. Renew Capital manages investments made on behalf of the Renew Capital Angels, a global network of angel investors, foundations and family offices who seek financial returns and sustainable social impact. For the latest on investing in Africa, subscribe and follow us at our social links below.

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