<h1 style="text-align:center;">RENEW Participates at the Wharton Club Africa 2016 Investment Summit</h1>Last week, the Wharton Club of Africa hosted the 2016 Investment Summit and CEO forum in Addis Ababa, Ethiopia. According to the WCA’s website, the event is a “premiere, global, and high impact Pan-African Executive Investment Summit” that features over 100 of the continent’s top investors, wealth managers, family offices and investors from 35 countries from across the globe.*Matt Davis, CEO of RENEW, joined Africa’s “leading regional and international investors, executive game-changers, Ministers, industry titans, and award-winning entrepreneurs” with the goal of brainstorming, collaborating and delivering “game-changing” industry intelligence on investing, investment operations, financial returns, business leadership and development on the continent.*<figure class="image image_resized" style="width:98.76%;"><img src="/uploads/wca_6954a77b6f.jpg"></figure>The following are Matt’s takeaways from his time at the event and as a speaker on the entrepreneurial leadership and impact investing panel:• I was impressed with the audience and speakers that the event attracted, which was a mix of investors and business people all interested or experienced in doing business and investing in Africa.• The chemistry on our panel was great thanks to: 1) a diverse group of people with different philosophies about impact investing, 2) people who have actually invested on the continent, and 3) a great facilitator who had deep experience in the impact investment industry and knew how to steer the discussion.• We also had a good audience that asked interesting questions: the most memorable being whether we had any investors reject a deal because the financial returns were too high - the audience member was working with an office that had rejected a deal on these grounds and they wondered if this was common. My response was that I personally had never experienced such a situation, nor had I heard of any investor rejecting an investment on the grounds that the financial returns were too high; however, this is an interesting problem in the impact investment space. As capital comes from a variety of sources (foundations, donor advised funds, private investment accounts, etc.) unique criteria arise that traditional investment managers may have not encountered before.• I emphasized that those in the industry should be open to a wide range of definitions about impact investing, because the space needs to grow and mature. But, investors and their managers should still be clear about how they individually define their impact investment philosophy and approach.• And, while a broad approach at the moment is appropriate, I also encouraged investors and managers to remember that in the end, impact investing is investing and needs to deliver a financial return. If the industry, which is garnering a lot of attention as of late, goes too long without these returns, we may see a correction; like what happened with the microfinance industry.• I ended by saying that RENEW is more keen on Africa's economic prospects - specifically Ethiopia – versus the broader growth of the impact investment space. In the end, for RENEW and our investors, impact investing is filling a gap in financial markets in countries like Ethiopia, between microfinance and larger private equity, and addressing the problem of the “missing middle”.Overall, I enjoyed the event and hearing the various perspectives from the fellow panelists. A special thanks to Aubrey Hruby, who chaired the panel. Aubrey is the Co-Founder of the Africa Expert Network. And to Lisa Lambie, who organized the whole conference.*<a href="http://www.wcaexecsummit2016.com/why-unique.html">WCA Executive Investment Summit &amp; CEO Forum 2016</a>

Partner Matt Davis speaks on an entrepreneurial leadership and impact investing panel.

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RENEW Participates at the Wharton Club Africa 2016 Investment Summit

<h1 style="text-align:center;">Mama Fresh Opens New Teff and Injera Learning Center in Ethiopia</h1><figure class="image image-style-align-left image_resized" style="width:21.87%;"><img src="/uploads/mftc_logo_tm_1_c24c612c9f.png"></figure>Mama Fresh is excited to announce the soft opening of its <a href="http://www.mama-fresh.com/visit/">Teff and Injera Learning Center</a> at its Addis Ababa export facility. Mama Fresh aims to make the entire world fall in love with Ethiopian cuisine by providing a wonderful educational and cultural experience that is great for the whole family.For those who are unfamiliar with this ancient and nutrient-rich grain, teff is naturally gluten free, native to Ethiopia and is an integral part of the Ethiopian diet. Teff can be eaten in a variety of ways, including being used as the main ingredient in the Ethiopian staple bread product, <a href="http://www.cnn.com/videos/world/2015/12/14/spc-marketplace-africa-teff-a.cnn">injera</a>. To make injera, teff grain is first ground into flour, then combined with water, allowed to ferment over several days, and finally baked into a spongy, unique and sourdough-like flatbread that is enjoyed with other meats and spices at every meal.Mama Fresh is the country’s largest commercial manufacturer and exporter of fresh-baked injera. Because teff is so vital to this country’s economy, Visitor Center guests will start experiencing the grain’s most famous output - injera - through the various stages of production. From teff grain and flour, to injera dough and baking. Visitors will also have a chance to bake their own piece of injera! Trust us, it’s harder than it looks.&nbsp;So the next time you find yourself in Ethiopia, be sure to stop by Mama Fresh to experience teff and injera like you’ve never before.Hours: Thursday to Saturday, 10 AM to 4 PM, by appointment only. Location: Wolo Sefer across from the Wongelawit Building (near to the Gotera intersection on Ethio-China Road). For Appointments: +251 (0) 93 001 3713&nbsp;

The portfolio company is excited to announce the soft launch of its Addis Ababa visitor’s center.

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Mama Fresh Opens New Teff and Injera Learning Center in Ethiopia

<h1 style="text-align:center;">A Weekend of Connections, Discussion and Positive Impact</h1>This past weekend, members of the Impact Angel Network (IAN) and distinguished guests met in Washington, D.C. for the second annual National Gathering, which was filled with introductions, connections, and meaningful discussion on how conscious capitalists can change how the West views Africa.The weekend event commenced on Friday evening with a dinner and discussion at the Cosmos Club. Guests mingled and enjoyed cocktails in the East Garden, and then moved into the Club's Warne Ballroom to hear global economist, New York Times bestselling author and TEDTalk speaker - <a href="http://dambisamoyo.com/">Dr. Dambisa Moyo</a> - shared insights on investing, opportunities and major economic shifts that are occurring in developing markets, like Ethiopia.<figure class="image"><img src="/uploads/2nd_annual_national_gathering3_6679e06676.jpg"></figure>In line with the weekend’s theme of sharing real stories of impact, entrepreneurship and innovation, the evening continued as members and guests alike shared their personal stories and experiences with impact investing, development, and Ethiopia (<a href="https://twitter.com/hashtag/whatsyourstory">#WhatsYourStory</a>). Ambassador Girma Birru opened dinner, encouraging attendees to continue seeing the economic growth potential that SMEs have in Ethiopia. Hussein Hirji, Economic Counselor of the Canadian Embassy, spoke to the unique public-private model that Global Affairs Canada is implementing in Ethiopia in partnership with RENEW.The night concluded with Miraf Hailu, deputy-manager of <a href="http://www.mama-fresh.com/">Mama Fresh Injera</a>, sharing about the beginning of RENEW and the IAN’s relationship with the company and just how far they’ve come. Starting in an outdated bakery to becoming a leading injera export manufacturing facility that is positively impacting the local community through job creation and tax revenue. It was a truly inspiring story of growth, opportunity and impact!On Saturday morning, IAN Chapter Chair David Grizzle and his wife Anne hosted network members for a morning of learning and review. RENEW went over the current status of each of the IAN portfolio companies including progress made to date, challenges and opportunities, and the plans going forward. All members participated in a lively discussion to brainstorm ideas on how the IAN can add more value to our portfolio. Guests were given a little taste of Ethiopia by participating in a traditional Ethiopian coffee ceremony.The weekend concluded with the investment pipeline dinner, hosted by IAN Chapter Chair, Dr. Andrew Umhau and his wife Cary. During this relaxed evening of community and fellowship, the RENEW team provided important updates on the network's investment pipeline, while guests were able to sample some Mama Fresh’s delicious Ethiopian cuisine - truly, home cooking at its finest!The RENEW team would like to thank Dr. Dambisa Moyo, Ambassador Girma Birru, and the <a href="https://renewcapital.com/impact-angel-network/advisory-board">IAN advisory board chairs</a>, Dr. Andrew Umhau, David Grizzle, Jeff and Donna Turi, Alan Gardner, Beth and Joel Marquette and Jodi Morris, and the staff of the Cosmos Club for helping deliver an unforgettable event. We also thank the members of the IAN and their families for coming to D.C. for a memorable fall weekend.

RENEW and the Impact Angel Network host the second annual National Gathering.

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A Weekend of Connections, Discussion and Positive Impact

<h1 style="text-align:center;">Tebita &amp; WSU: Working Together to Save More Lives</h1>Of the many goals we set out to achieve alongside our portfolio companies and their driven entrepreneurs, such as social impact and financial returns, RENEW and the Impact Angel Network (IAN) also seek to add value to the companies in the form of strategic relationship building.Members of the IAN closed an investment in EAES in May 2015. EAES serves providers of emergency medical services and training in East Africa, Ethiopia in particular, in order to ensure that international and domestic clients have access to reliable, high-quality emergency care. EAES works in partnership with local firms, such as Tebita, by offering business development, procurement, and administrative support. This support drives medical service companies to operate more efficiently and thus, frees them up to focus on their core functions; providing quality medical care for patients in crisis.<figure class="image"><img src="/uploads/desktop20_e32f0440f8.jpg"></figure>EAES and Tebita, together, aim to improve the quality of and access to emergency healthcare services across Ethiopia and beyond. And now, we’re excited to announce that through RENEW and EAES’ business development efforts, Tebita will have a U.S. partner to assist them in the coming years on their journey to becoming a leader in emergency healthcare and response - <a href="http://www.weber.edu/CHP/EthiopiaEMS.html">Weber State University</a>.In July 2016, Bill Robertson, department chair and assistant professor of emergency medicine at Weber State University (WSU), spent a week in Ethiopia accompanied by Lisa Trujillo, director of clinical education in WSU’s Respiratory Therapy Program. Robertson and Trujillo met with the Kibret Abebe (founder of Tebita) and his team, visited the company’s training center and spoke with the deputy director to the Ethiopian Ministry of Health to discuss the future of EMS in Ethiopia.Robertson and Abebe collaborated on how WSU’s emergency care and rescue department could assist Tebita with developing programs that will further the efforts to establish educational and credentialing standards, and to provide a sustainable workforce of qualified emergency medicine providers for Tebita, as well as other agencies in Ethiopia.“With the development of newer educational technologies, and the ever-increasing availability of broad-band internet capabilities in the developing world, we are able to collaborate with areas of the world such as Ethiopia in offering at least the didactic component of medical education,” Robertson said. “The face-to-face component of medical education that is necessary for skills and hands-on training is still a must, but with the ability to lecture from a distance, the time we spend there in person has become much more practical.”As this relationship between WSU and Tebita continues to flourish, so too will the overall quality of emergency medical care in Ethiopia, leading to the prevention of unnecessary deaths and thousands of more lives saved. And that is a success story we all can get behind!

A new partnership that will lead to better emergency care in Ethiopia.

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Tebita & WSU: Working Together to Save More Lives

<h1 style="text-align:center;">1,000 Mountains Ahead and Behind</h1>The Africa we know today is not the same Africa our grandparents knew. The continent has changed drastically over the last decade or two, and continues to do so rapidly. What makes this shift interesting is that for so long, most of us in the West loved "helping Africa", but did so in a way that generally took the form of charity, emergency aid or some other method of a providing a handout or a ‘Band-Aid solution’ to a crisis. The possibility of investing in and growing companies, building cities and focusing on sustainable private sector growth was nearly unimaginable.But, here we are in 2017, witnessing rapid development and opportunity before our very eyes, while also reflecting on the incredible growth from the past several decades. Africa has transcended our outdated perspectives of its economy and our aid-centric view of its existence. But while the continent continues moving towards a highly competitive and increasingly industrialized economic position in the world, there still exists a great lack of options for individuals to be part of this story, and capture the vast opportunity which it presents.This is where RENEW comes into play... Years ago we saw this shift occurring. In Africa, there were companies growing bigger than microfinance institutions were equipped to finance, yet were still considered too small and too risky for larger private equity funds to pay attention to. The result was an increasing amount of companies in the $1-2M in sales range with 20-30 employees, but nowhere to turn for the capital required to scale and become $50M companies employing 500 people. In the U.S., we started seeing the rise of compassionate capitalists, philanthropists, individuals, and families who wanted a better and more successful model than straight giving as a way to help; a shift towards investing in companies that create jobs and build economies. However, there was no expertise on the ground to source and manage investments, let alone a vehicle for facilitating the process. RENEW saw the supply and demand, and asked, “how do we connect these dots and turn this into an opportunity?”.The barriers required to realize this vision and overcome its challenges were (and still are!) high – including, but not limited to, information asymmetry, differing business culture and norms, a lack of trust with entrepreneurs and business partners, 7,000 miles of distance, time zone complications, and an enormous gap in understanding and information on both sides. We can confidently say we’ve climbed 1,000 mountains these last five years, and the result is an investment platform called the Impact Angel Network and a growing portfolio of exceptional companies.RENEW and the IAN build companies through an all-inclusive and innovative model: we find, vet, perform due diligence, negotiate, invest in and then actively help them grow (think Shark Tank meets Indiana Jones) by providing technical assistance and consulting in key areas of their business, namely finance, marketing and sales, and governance. We love building great companies in challenging parts of the world where small to medium-sized enterprises (SMEs) are needed most, and we just happen to be an investment firm with one heck of a mission and an unparalleled experience for our investors to boot.So what have we accomplished over the past 5 years? We’ve invested in 7 incredible companies and entrepreneurs, we are supporting over 1,100 jobs and 3,500 smallholder farmers, we are generating export revenue for the country, we’ve attracted an additional $10.3M in financing for the portfolio in Ethiopia, and we’re just getting started.Looking at 2016 in particular, we launched a public-private partnership with the <a href="../2016/accelerating-business-growth-project.html">Canadian government</a> to expand the IAN into Canada and scale up our work in Ethiopia. We opened The Exchange - an amazing business acceleration space where we'll be taking companies through our growth acceleration program and coaching them into becoming market leaders. We’ve learned how to navigate in-country political and civil unrest and technological hurdles and to come back from these experiences stronger and more equipped to deal with future challenges that will surely be faced. We learned the importance of staying the course; because what we're doing - creating jobs - in turn, builds stability and requires our commitment to the vision we’ve laid out. We are a small but growing player in the development of a stable and thriving economy, and it is a robust SME sector that is a hallmark of a thriving economy.So, what do we plan to do in the year ahead? We've got some great investments lined up across multiple priority sectors. We are going to launch multiple training programs at The Exchange, our new space in Ethiopia, and across the country. We will continue working with our portfolio companies to optimize their governance and operations, and increase sales. We will also continue teaching Ethiopian companies the basics of private equity investing by coaching them on how to pitch their companies the larger funds. We're doing some heavy lifting behind the scenes to help build the private equity industry in Ethiopia from the ground up and we couldn’t be more driven! We also plan to implement several new investor experiences for members of the IAN, to continue growing an amazing network of compassionate capitalists, and to host our third annual National Gathering in Washington, DC in October.We truly are excited for what the future has in store and invite you to come on this journey with us in growing companies, building nations and leaving a legacy.

RENEW Celebrates 5 Years of investing in Ethiopia and looks to the future.

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1,000 Mountains Ahead and Behind

<h1 style="text-align:center;">My Journey to RENEW Through the Busy Streets of Addis</h1>"Erin.... we are hoping that you are available to come to Addis Ababa, Ethiopia from about May 1...."&nbsp; As I read this email early one morning, I knew my work life was about to get flipped completely around. It’s not every day that a new job asks you to take a transatlantic flight to Sub-Saharan Africa on your first day of work…--------Joining the RENEW team was a no-brainer for me. I was on the hunt for a company where my ideals and values would line up. A company that I could get behind and one that I could feel good about contributing to at the end of the day. Coming from a background in the investment field, I had heard of impact investing, and knew that if I was to stay in this industry, that was where I needed to be. Working at a small company taught me how to wear several different hats, but it also taught me where my strengths truly lie and what I value most in this field: using investments for the greater good. Right from the first conversation I had with RENEW, I could see my values and skills lining up with the company and position.<figure class="image"><img src="/uploads/collage_fotor2_cd2e06ab32.jpg"></figure>Which brings me to about four weeks ago, where on day two of work, I landed at Bole International Airport; bright-eyed, bushy-tailed, and bag-less. As I drove through the city of Addis Ababa to The Exchange (our office in Addis Ababa), the sites around me were overwhelming. I had never seen so much traffic and so many people all trying to vie for the right of way. Rush hour in the city felt disorganized and hectic. After a good 30-minute drive, I finally made it to The Exchange and was greeted by a friendly team and positive work environment. A small hidden gem tucked inside a coffee warehouse down a dirt road in the heart of the city.Right from day one of work, I could tell&nbsp;this position would be fast-paced and right up my alley.&nbsp;One common theme that kept popping in my head over the two weeks I spent in Ethiopia, was something Matt and Laura told me in my interview. They said they’re a hard-working group, but at the end of the day, their company is like one big family. Over the two weeks in Addis, I saw that adage really come to light, and I saw first-hand that they live and breathe that. I also experienced the passion that was behind RENEW, and saw that the team truly stood behind and embodied the company’s values: "we are loyal and welcome the challenge of being trailblazers".<figure class="image"><img src="/uploads/erin_eat_ethiopian_fotor_0_ff9587a01a.jpg"></figure>While in Addis, I also had the chance to visit a few of our projects. To hear and see first-hand what impact our investments have, and to meet the people behind the portfolio, was truly eye-opening. Learning about where these companies started, versus where they were today because of the equity investments by the IAN, was a testament to the work being done by RENEW and the impact being created.Over the next two weeks, Addis eventually became less about the busyness and felt more and more like everyday life. The people were friendly and helpful and the city was alive and exciting.&nbsp;I woke up to the sound of morning prayers and church bells every morning; which on day 2, I was convinced my co-worker was blasting music at 5 AM. It made it hard to sleep, but you could feel how alive with energy the city was at the same time.Being able to see our investments, the country, and the circumstances that surround them, gave me such a strong grounding and understanding of what we're offering. Not only are we trying to create huge social impacts, but we're working with the community to move it forward, and ultimately, provide good financial returns to our angel investors.One month in, and I’m still getting my feet wet, but I can already tell this is somewhere I want to make a splash.<figure class="image image_resized" style="width:100%;"><img src="/uploads/renew_team_b5bec3d02a.jpg"></figure>

My first impressions of RENEW and Ethiopia.

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My Journey to RENEW Through the Busy Streets of Addis

<h1 style="text-align:center;">The Second Annual Impact Report</h1>RENEW announces the Impact Angel Network’s (IAN) second annual impact report. We hope it will give you key insights into the IAN’s vision, the portfolio in Ethiopia and the IAN itself, and in doing so, we will take you back to the source of some of Ethiopia’s greatest resources.With seven investments in Ethiopia, the IAN now supports 1,490 jobs, with 812 having been created post investment. Our portfolio companies now source from more than 4,300 small holder farmers. Read our Impact Reports: •<a href="https://latest-api.renewcapital.com/uploads/RENEW_Impact_Report_2017_c0d6c8251c.pdf"> Impact Report (June 2017)</a> • <a href="https://latest-api.renewcapital.com/uploads/RENEW_LLC_Impact_Report_2016_d7bb848962.pdf">Impact Report (June 2016)</a><figure class="image"><img src="/uploads/renew_report_cover_fotor_001380ba9e.jpg"></figure>

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The Second Annual Impact Report

<h1 style="text-align:center;">Back to the Source: Cotton</h1>In December 2015, members of the Impact Angel Network closed an investment in a family-owned textile and apparel manufacturing facility, Desta PLC. Established in 1992, Desta PLC is a multi-faceted company that oversees several production lines, including embroidery, knitting, cut-and-sew, fabric and garment manufacturing. The company’s dedication to quality and timely service has garnered trust and confidence from domestic and international customers.One could say, though, that this dedication is not only applied to Desta’s customers but its employees as well. At any given time, Desta employs more than 550 individuals, mostly young men and women, and ensure that each day they have access to a healthy subsidized meal, a fair wage, a medical nurse, team trainings and opportunities for advancement. Desta is committed to the fair treatment of its employees and adherence to guiding principles of sustainability, setting it apart from the trajectory this industry has taken in many other low and middle-income countries. Desta is accredited by international standard and compliance organizations. It passed an audit by BSCI (Business Social Compliance Initiative), proof that Desta has created suitable working conditions and takes care of employees. In addition, Desta undergoes a social audit twice a year by SGS, a leading inspection and certification company headquartered in Switzerland. Worldwide Response Accredited Production has also certified the company.<figure class="image"><img src="/uploads/cotton_blog5_216389c621.jpg"></figure>The company’s commitment to sustainability and corporate responsibility is assisting Desta in becoming a market leader in an industry that is just now starting to take hold in Ethiopia and the East Africa region. While the first textile mill in Ethiopia was established nearly 80 years ago, the entire cotton-textile-apparel (CTA) value-chain has been one of the country’s least developed industries, only marginally contributing to the country’s GDP. The reasons for this are many, but two significant causes are lower cotton cultivation rates and a lack of vertical integration across the value chain (1).If you know anything about Ethiopia and the important role that agriculture plays in its GDP, this may actually come as a surprise. While cotton has long been considered a “cash crop” that is grown by commercial and smallholder farmers alike, cotton cultivation has yet to reach its full potential. Ethiopia currently cultivates only 3% of the total 2.6 million hectares that are suitable for cotton production, and out of 84,000 hectares of land that are under cotton cultivation, only 35,000 hectares are irrigated while the remaining is rain-fed (2). This translates directly into the country’s export figures. In 2012, total CTA exports amounted to roughly $27.2M, of which only $4.7M was directly from cotton production (1) - as a comparison point, coffee exports for the same year amounted to $694.6M (3). In addition to lower cultivation rates, up to 70% of cotton that is grown in Ethiopia and the East Africa region is exported to other countries (1). To date, only a handful of textile and garment manufacturers are vertically integrated from “dirt to shirt,” leaving the remaining facilities to import costly raw materials from other countries and stunting the overall textile industry (1).Bringing this point closer to home, 60-70% of what Desta produces is made from 100% cotton or a cotton blend. Of these cotton products, only about 20% is actually made from locally grown Ethiopian cotton, while the remaining 80% is made from imported cotton or polyester-cotton blends. However, this reliance on expensive imports may not be for long. Global sourcing for apparel is currently undergoing a significant realignment due to a rise in labor wages in China, the world’s largest textile exporter; buyers are now looking elsewhere to source apparel (1). So, where might these buyers be looking? You guessed it - Ethiopia.<figure class="image"><img src="/uploads/dsc_0159_10ddd9e6bc.jpg"></figure> To put this in context, the East Africa region currently produces approximately $1B in cotton products (cotton fiber through apparel) on an annual basis, whereas China exported $159.6B in garments alone in 2012 (1). “If one-half of one percent of China’s current garment exports were to relocate, this would represent a near doubling in the value of all CTA exports from East Africa” (1). And Ethiopia is well positioned to take advantage of this shift. The country is rapidly becoming a top destination for textile manufacturing on account of competitive labor costs, government incentives, and low energy costs. Companies such as H&amp;M, Tesco, Gap, Belk, and Walmart, among others, are now sourcing textile products from the country (4).In light of these global shifts, the government of Ethiopia has recently taken steps to further ensure the future success of the sector in naming the CTA industry, across the entire value chain, as a priority sector under the Growth and Transformation Plan II (GTP II). According to <a href="http://allafrica.com/stories/201607151027.html">AllAfrica</a>, the country plans to “increase cotton output from the land productivity level of 15 quintals/ha in 2015 to 28 quintals/ha by 2020. In the long-term, Ethiopia has set out to become self-sufficient in lint cotton supply” by the completion of GTP II. The country is also taking advantage of initiatives such as the Africa Growth and Opportunity Act (AGOA), Common Markets of East Africa (COMESA) and other bilateral trade agreements with Western countries that offer free trade benefits and access to the global and regional markets. And to ensure that facilities are taking full advantage of these agreements, the Ethiopian government has established a National AGOA Center under the Ministry of Trade to help companies better utilize AGOA.In strengthening the cotton cultivation segment of the CTA value chain, Ethiopia will not only support full integration of the important textile industry (one that is expected to significantly contribute towards Ethiopia’s future GDP), but it will also positively affect food and income security for rural populations. “In addition to production for the value chain, by-products include cotton oil and cotton seedcake for home use and cattle feed. Cotton production for smallholder farmers has a strongly positive impact on food security through raising rural incomes. It is highly suitable to be grown in rotation with other staple crops and provides the cash necessary for the farmer to invest more heavily in food crops” (1)All in all, the continued development of the CTA value-chain not only positively affects textile manufacturers, like Desta PLC, but it will also economically benefit the country and the lives of the farmers who are involved in cotton cultivation.

The RENEW team takes a closer look at the cotton, textile, apparel value chain and its role in Ethiopia’s economy.

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Back to the Source: Cotton

<h1 style="text-align:center;">We Hit 100!</h1><figure class="image"><img src="/uploads/toast_5a775dbfe1.jpg"></figure>This past month, the Impact Angel Network hit an important milestone: It reached 100 members. Only one order of magnitude from our vision of thousands of investors investing into hundreds of companies across 20 countries on the continent of Africa.&nbsp;Perhaps it's worth explaining why this milestone, and RENEW’s vision for a thousand-member network, is so important.First, there is much more to this story than angel investing.If we go back in time, to the point when nations start to accelerate beyond their agrarian roots, to industrialized countries and a thriving private sector that pulls many out of poverty into the middle class – it’s entrepreneurs that are at the center of that story. The young and determined that went on to claim the title of captains of industry. While far from perfect, Rockefeller, Carnegie,&nbsp;and Morgan, and then Jobs&nbsp;and Gates, did amazing things for my country. And yes, they all started as an idea, then a garage and then a mid-size company, that they grew into great ones. They were determined, passionate, hard-working and visionary. And they had some help along the way…from investors.We believe this talent can be found on the continent of Africa. You must seek them out, but they are here, working hard at innovating and bringing value to their markets. They are overlooked by much of the world and definitely underserved by the local capital market. There is virtually no medium-term, risk capital available for these young Edisons. There within lies the problem and the opportunity. RENEW’s Impact Angel Network seeks to find and invest in these future business legends, and unlock the massive economic force inside each nation. In doing so, we create&nbsp;jobs,&nbsp;and provide better access to healthcare, education and clean water for the thousands we employ and eventually the millions living in the communities where these legends build their companies. Read more in our latest <a href="second-annual-impact-report.html">Impact Report.</a>Recently,&nbsp;the UN Secretary General, António Guterres,&nbsp;<a href="https://news.impactalpha.com/deadline-2030-less-than-5-000-days-and-counting-to-meet-global-goals-7bde7d7e4085">asked for the private sector's help&nbsp;</a> in achieving the Sustainable Development Goals (SDGs).&nbsp;Well, I am proud and inspired by the more than 100 amazing families that I have personally gotten to know since the IAN was founded in 2013 that are already taking up this call-to-action. And I am also incredibly proud of the hundreds of amazing entrepreneurs who I personally know who are working day-in and day-out to build companies that bring new products and services to their markets, creating valuable jobs, and acting as good stewards in their communities. Here is a peak at a few of their <a href="https://youtu.be/FhLyVJwqS9c">stories</a>. I believe this is exactly what Mr. Guterres is asking for.<figure class="image"><img src="/uploads/first_trip_1_45d7edd176.jpg"></figure>Many people have told us that building an angel network dedicated to investing in growth business on the continent of Africa was impossible: we’ve heard “They will ask you too many questions, and it will be awful to manage.” Or “You will have so many problems investing in small and medium sized businesses in Africa; they are too much work.” Thankfully, I find solace in these statements of doubt; it means RENEW and the IAN are onto something disruptive and game-changing! We’re trailblazers.So, find us when we get to 1,000, or join us now and be part of the adventure. We'll still be here, driving entrepreneurship; playing our part in building Africa's private sector; providing a platform for conscious capitalists to invest good companies; and I believe making a dent in the&nbsp;<a href="http://www.undp.org/content/undp/en/home/sustainable-development-goals.html">SDG goals.</a>This is the story and the vision of the Impact Angel Network. <a href="http://renewcapital.com/impact-angel-network/join">Join us!</a><figure class="image"><img src="/uploads/grow_build_leave_tagline_1_3a96cb57f5.jpg"></figure>

Impact Investing