<h1 style="text-align:center;">RENEW Stories of 2014: Part Three</h1>This past year, RENEW has been working to close an investment in the first private ambulance company in Ethiopia. We are excited to share another one of our favorite stories of 2014. In Laura’s own words:<figure class="image"><img src="/uploads/dsc_0630_0_fb26a280bf.jpg"></figure>“This past summer, I learned that the owner was headed to the United States to gain exposure to advanced emergency medical systems. I emailed my former colleagues at Mayo Clinic asking if they would host him, so that he could experience a world-class health system, including air ambulances, dispatch centers and training programs. We arranged it all, including his stay with my parents outside Rochester, Minnesota.I was so excited about<figure class="image"><img src="/uploads/dsc_0030_21f62b2ac0.jpg"></figure>his visit, but it wasn't until he came back to Ethiopia that I realized he had been confused by my invitation to visit a 'clinic in Minnesota'. In Ethiopia, a clinic is typically as small as one nurse in a remote village. He had gone to Mayo Clinic because he trusted me, and he came back to Ethiopia astonished and full of vision for building a world-class emergency response system in a place that really needs it. We are thrilled to be involved with an entrepreneur with so much potential for Ethiopia.”Looking forward, 2015 will be an exciting year for RENEW and the IAN. We are planning for more investments, some exits, second rounds, returns from our current portfolio, and Econ-Tourism Trips to Ethiopia. RENEW is also working to make it easier for our investors to diversify, connect with their companies, and meet with each other. We look forward to creating stories with you in 2015!

A three-part blog series with RENEW's favorite 2014 stories: Part three

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RENEW Stories of 2014: Part Three

<h1 style="text-align:center;">RENEW Stories of 2014: Part Two</h1>One of RENEW’s goals for 2014 was to grow the Impact Angel Network, expanding to new cities across the United States. The Impact Angel Network is one of the largest U.S. angel networks working in in Africa. The members of the network are all conscious capitalists who seek to not only gain a financial return on their investment, but a social return as well.Here’s a story from Laura about the IAN’s growth in 2014:<figure class="image"><img src="/uploads/renew_banner_little_gem_video_3_356b289e99.jpg"></figure>“’But what does that really mean?’ – When your father becomes a member of the IAN, it opens you up to a whole new level of awareness about the investor experience. Maybe it’s just the truth-telling nature of my dad, but I am grateful for his perspective on our process, and hopeful it will bring a whole new level of refinement to the investor experience we seek to create.Once I was able to provide the answer to his questions about our process and describe the fundamental core of RENEW, to grow mid-size companies in Africa into market leaders, his response was ‘It makes sense to me.’ The actual words of the quote may change slightly, but for most members of the IAN, the gist of the quote stays the same. Joining the IAN is not a hard sell for us to make: Invest in companies, create jobs, stimulate exports, generate returns, build economies. This is what made America great. ‘It makes sense to me.’”And so, the IAN continues to grow one member at a time.If you’d like to learn more, check out this short video How the Impact Angel Network Makes Investments in Africa

A three-part blog series with RENEW's favorite 2014 stories: Part two

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RENEW Stories of 2014: Part Two

<h1 style="text-align:center;">RENEW Stories of 2014: Part One</h1>Built through laughter and heartache, challenges and great opportunity, stories capture the substance of life. The key actors in our story are the investors, entrepreneurs, development partners, colleagues, friends and family members who make RENEW and the Impact Angel Network (IAN) what it is today. In gratitude, we thought we’d take a few moments to recount some of our favorite stories from 2014.One of our favorite moments from 2014 is the day that Laura and Matt decided to visit the METAD coffee farm. In Laura’s own words:<figure class="image image-style-align-right image_resized" style="width:75%;"><img src="/uploads/dsc_0052_667d4a2513.jpg"></figure> “Mud and rain are really not my favorite things,but the image in my memory is epic: kids using banana leaves as umbrellas, trucks stuck up to their axles in mud, and Matt covered head to toe. I fled our land cruiser and rushed through the rain towards the welcoming arms of a young villager woman, and I sheltered under the porch of her mud brick and thatched hut. We were hours away from any semblance of modernity. Whose idea was it to visit our coffee farm near Yirgacheffe in the middle of the rainy season anyway? &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<figure class="image image-style-align-left"><img src="/uploads/dsc_0061_4fdf15c714.jpg"></figure>OK, I’ll admit it, it was mine – the desire to escape the city and go to that magical, mystical, ‘jungle-y’ place got the better of me. We didn’t make it to the actual farm on that trip, but ‘Ethiopia the beautiful’ renewed me once more and the jilted, jumbled conversations with the villagers gave me images of the impact of our investment: the hundreds of laborers who we employ at the farm and processing site, and the children who go to the school supported by METAD. These faces make up the real stories.”P.S. – Have no fear METAD investors, our team did make it to the farm to check up on things a few weeks later.

A three-part blog series with RENEW's favorite stories from 2014: Part one

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RENEW Stories of 2014: Part One

<h1 style="text-align:center;">Aspen Institute Showcased New Book on Impact Investing</h1><figure class="image"><img src="/uploads/ande_logo_web1_8d614abdbf.jpg"></figure>RENEW team members Kathleen DeLaHoussaye and Emily Ziethen attended an event for the recently released book titled, <a href="http://www.wiley.com/WileyCDA/WileyTitle/productCd-1118860810.html">'The Impact Investor: Lessons in Leadership and Strategy for Collaborative Capitalism'</a>, authored by Cathy Clark, Jed Emerson and Ben Thornley. The discussion was hosted by the Aspen Network of Development Entrepreneurs, commonly known as <a href="http://www.aspeninstitute.org/policy-work/aspen-network-development-entrepreneurs">ANDE</a>, which is a part of the Aspen Institute. ANDE is “a global network of more than 200 organizations that propel entrepreneurship in emerging markets.”*Kathleen and Emily found the discussion surrounding the book and the field of impact investment to be interesting and compelling. According to the authors, this book serves as a hands-on resource that is both informative and practical by presenting investment strategies, providing case studies and teaching important lessons that will ultimately contribute towards the reader’s success in creating “mission-driven returns.”The research for this book drew on the practices and results of 30 different funds, firms and organizations in the field of impact investment that have historical data and a proven track record of meeting expectations and providing returns. The authors were then able to pull out trends, commonalities and conclusions from the data, which in turn empirically supports the opinion that all members of the impact community share; social entrepreneurship can be a successful means through which individuals can help lift a developing nation out of poverty, while providing financial returns.Ultimately, the beliefs and best practices presented in this book align with RENEW’s beliefs about impact investing. RENEW strives to engage its investors, practice exceptional financial discipline and due diligence, and ultimately provide an unforgettable experience that will hopefully inspire a movement across generations so that one day every individual will invest in impact.&nbsp;

RENEW team members Kathleen DeLaHoussaye and Emily Ziethen attended an ANDE event.

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Aspen Institute Showcased New Book on Impact Investing

<h1 style="text-align:center;">RENEW Attends Interfaith Center on Corporate Responsibility Conference</h1>RENEW’s Laura Davis recently attended a national conference titled “Weathering the Storm”, hosted by the Interfaith Center on Corporate Responsibility (ICCR).<figure class="image"><img src="/uploads/logo_0_669900179c.png"></figure>ICCR is a coalition of over 300 faith-based and socially responsible institutional investors who collectively represent more than $100 billion in invested capital, and work in coalition to promote more just and sustainable corporate practices.This event aimed to engage ICCR members and multinational corporations to support and promote greater awareness of their impacts on global food and water supplies, climate change, human rights, public health and access to safe and affordable credit, among other issues. Several hundred people from around the U.S. attended the conference, which was sponsored by Rockefeller &amp; Co., Goldman Sachs, Walmart and a variety of other corporations who care about the environment, good sourcing practices and their organization's carbon footprint.Laura was encouraged to learn that there is indeed a large community of religious-based financiers who care about environmental and social impact, and who are looking to invest in companies and opportunities that align with these values. Founded in the 1970s, ICCR has been a forerunner in the impact investment movement. Today, this coalition and other organizations, such as RENEW, are using private investment as a powerful catalyst for social change. &nbsp;

RENEW's Laura Davis attends the ICCR conference in New York City.

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RENEW Attends Interfaith Center on Corporate Responsibility Conference

<h1 style="text-align:center;">Why Impact Investment and Why RENEW?</h1>I have always possessed a passion for helping others, which was further instilled in me by the Jesuit education that I received from Loyola University Chicago. Under the Jesuit ideals, I was taught to constantly seek and expand my knowledge in the service of humanity, and acquire the skills that would enable me to solve the issues facing the world. Justice, social responsibility and global community are all values that were a part of my collegiate education, and have inspired me to, in the words of St. Ignatius himself, “Go forth and set the world on fire.” I believe that this drive was strengthened during my year studying abroad in France and living with a French host family. Being exposed to a completely different culture, language and way of life led me to truly appreciate the diverse international community and become globally aware in my personal identity and outward perspectives.<figure class="image"><img src="/uploads/dsc03207_b3638f0d2e.jpg"></figure>View from my home in Nantes, FranceIt was upon my return to the United States that I knew I wanted to pursue a career in international development, but I was not yet sure how I could go about achieving this dream. During my senior year at Loyola University Chicago, I was very fortunate to intern with the U.S. Department of Commerce, U.S. Commercial Service, which gave me the opportunity to work one on one with small and medium sized business owners who were looking to expand overseas. It was at this internship that I first discovered the power of the private sector and how it can positively affect the global economy. Balancing trade deficits, spurring economic growth, job creation and raising the overall standard of living are just a few examples of what the private sector can accomplish. By witnessing the direct consequences of encouraging private sector growth, I was inspired to learn how to bring out the best attributes of capitalism and make it a force of good.<figure class="image"><img src="/uploads/useac_chicago_2012_2_0_d1d25ba2b8.jpg"></figure>U.S. Department, U.S. Commercial Service Chicago StaffAfter graduating from Loyola University Chicago, I realized that in order to become knowledgeable on how to help the international community through private enterprise, I needed practical and real world experience working in the actual sector. I was once again given a wonderful opportunity, this time working at a private-equity venture capital firm. It was at this firm that my understanding of the private sector’s potential expanded, specifically how the field of international investment can be harnessed. It was fascinating and exciting to watch investments being made in mid to late stage ventures, seeing the portfolio companies grow and become market leaders (second round of investments, IPOs, acquisitions/sales), while all providing a return on the original investment for the investors. That’s when the light bulb went off; if we could apply this growth cycle to businesses in developing countries, then we could positively change the local economy and help raise a community out of poverty. This was my introduction to impact investment, and I was driven to learn more.I started researching all things impact investment, and found out what an amazing tool private investment can be when used to help others. The most important aspect of impact investment is that it not only provides a social impact for a community, but it also provides a return on the original investment. Impact investment is sustainable because it follows this philosophy; it is a helping hand, not a hand out. It does not participate in creating an aid-dependent society, but rather gives community members the resources and tools they need to help themselves.The more I researched and learned about the field, the more I wanted to become a part of this amazing work. It was during this time that I learned about RENEW, and let’s just say it was love at first sight. RENEW is both unique and exciting by providing its angel investors a means to experience new cultures and exotic lands, all the while connecting them to socially impactful investments; a mash-up of Indiana Jones meets Warren Buffet. RENEW’s business model is hopeful and visionary; strategic and memorable. It strives to help its clients find, invest in and grow midsize companies into market leaders, make a great return, and create a positive impact on the country’s economy. All in all, RENEW strives to give its angels an unforgettable experience. It is now my hope, as the newest member of the RENEW family, that I in turn will gain the necessary skills and experience that will ultimately provide me the means to uphold RENEW’s mission and create a positive social impact in the world.

A journey of discoveries and events that led me to where I am today...

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Why Impact Investment and Why RENEW?

<h1 style="text-align:center;">IAN to Hit Another Milestone</h1>In just a few weeks, a network of families and wealthy individuals living around the United States – members of RENEW’s Impact Angel Network (IAN) – will achieve another milestone: They will be closing several more investments into local medium-size companies (SMEs) in Africa.<figure class="image"><img src="/uploads/photo_ian_becomes_the_largest_98cb0046a8.jpg"></figure>This is exciting news for a number of reasons. First, it means that impact investing is starting to take hold as a new alternative for <a href="http://www.forbes.com/sites/russalanprince/2014/09/08/the-high-end-appeal-of-impact-investing/">doing well by doing good</a>. Next, it means that many in the U.S. are beginning to see Africa as an investment destination. This is exactly what the President hoped to achieve following the recent <a href="http://blogs.wsj.com/frontiers/2014/08/25/africa-summit-set-the-stage-for-us-business-now-what/">U.S.- Africa Leaders’ Summit</a> in Washington, D.C.. And finally, and maybe most importantly, it means that local, high-potential companies in Africa can finally begin to access growth capital to do what we all want; to grow and create jobs so these economies can stand on their own.The latter point may be the best news of all, especially for entrepreneurs, who desperately want the West to see them as investment-worthy. It is well known that SMEs on the continent lack access to growth capital. <a href="http://www.afdb.org/en/news-and-events/article/the-afdb-sme-program-approval-boosting-inclusive-growth-in-africa-12135/">The African Development Bank Group</a> (AfDB) estimates that the financing gap for SMEs is $140B. China, India and many other countries know this, and are investing. But they are not necessarily investing in local companies to satisfy this gap. Most are setting up their own shops and factories, and sometimes driving local companies out of business. But now the U.S., which has largely been a charity-giving nation, is rising to the challenge and investing in Africa via networks like the IAN.African business owners are excited about more than the financing that comes with Western investors. Many entrepreneurs tell RENEW that they are equally excited to have the U.S. brand associated with their company. They realize that their shareholders will require them to improve their quality, service and governance... and they are eager to deliver.But be cautioned: it is not easy to invest on the continent. Investing in countries like Ethiopia can leave you with some bumps and bruises, and it requires a very hands-on approach.“We don’t believe it’s possible to be a suitcase investor flying in and out, hoping all goes well. RENEW, with our office in Ethiopia, often has to rebuild the financial departments of our portfolio companies, train entrepreneurs about running board meetings, and design and help the companies execute new marketing and sales initiatives. Still, if you’re patient, the rewards will come”, says Matthew Davis, partner at RENEW.Thankfully, organizations like the IAN are building new segments of the capital markets in countries like Ethiopia, where local companies can now access mid- to long-term investment capital in the range of $300K to $3M. The IAN has already <a href="real-stories-real-investments/index.html">closed three investments</a> that have created jobs and increased exports. The next series of investments will help local firms buy new machines, launch new products, scale up production and expand into new markets.As the largest U.S. network of accredited angel investors for Africa, the IAN continues to grow as more investors and philanthropists become aware of impact investing and the potential returns and impact that can come from investing in Africa’s young economies.

RENEW's Impact Angel Network (IAN) prepares to close another set of investments in Ethiopia.

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IAN to Hit Another Milestone

<h1>Matt Davis Speaks at U.S. - Ethiopia Business and Investment Summit</h1><figure class="image"><img src="/uploads/photo_la_investment_summit_2013_panel_0_730e2298a8.jpg"></figure>RENEW's Matt Davis spoke at a panel on investing at the U.S. - Ethiopia Business and Investment Summit in Los Angeles on Friday, August 1. A similar summit was also held in Houston, Texas, and the main goal of the summit was to promote investment in Ethiopia and to invite investors to explore opportunities there. Over 300 business leaders, investors and government officials were at the summit, including Ethiopia's President, Mulatu Teshome, who invited investors to visit and invest in his country and highlighted several sectors of interest for potential investors.Matt sat on a panel of investors and funds and shared insight on the investment environment in Ethiopia. The panel focused on building a strategy for investing in Ethiopia, whether the size of investment is $200K or $2B. Other topics that were discussed included the importance of working with a local partner; the ease of working with the Ethiopian government; affordable labor and energy costs; and exciting opportunities in local manufacturing and export including Ethiopia's commodities that have a clear competitive advantage such as coffee, sesame and teff.Some West Coast-based members of RENEW's Impact Angel Network were also in attendance at the summit.

The RENEW team joins the Business and Investment Summit in Los Angeles.

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Matt Davis Speaks at U.S. - Ethiopia Business and Investment Summit

<h1 style="text-align:center;">Matt Davis Speaks at U.S. - Ethiopia Business and Investment Summit</h1><figure class="image"><img src="/uploads/photo_la_investment_summit_2013_panel_0_62d172137e.jpg"></figure> RENEW's Matt Davis spoke at a panel on investing at the U.S. - Ethiopia Business and Investment Summit in Los Angeles on Friday, August 1. A similar summit was also held in Houston, Texas, and the main goal of the summit was to promote investment in Ethiopia and to invite investors to explore opportunities there. Over 300 business leaders, investors and government officials were at the summit, including Ethiopia's President, Mulatu Teshome, who invited investors to visit and invest in his country and highlighted several sectors of interest for potential investors.Matt sat on a panel of investors and funds and shared insight on the investment environment in Ethiopia. The panel focused on building a strategy for investing in Ethiopia, whether the size of investment is $200K or $2B. Other topics that were discussed included the importance of working with a local partner; the ease of working with the Ethiopian government; affordable labor and energy costs; and exciting opportunities in local manufacturing and export including Ethiopia's commodities that have a clear competitive advantage such as coffee, sesame and teff.Some West Coast-based members of RENEW's Impact Angel Network were also in attendance at the summit.