Brad and Nancy Allen, longtime residents of Stephenville, are members of Impact Angel Network [IAN] the largest U.S.-based business angel network for Africa. The IAN invests in promising businesses in Africa with an aim to create both financial and social returns.
They, along with other members of the IAN, recently invested in East Africa Emergency Services, a medical services company that will provide emergency medical services and training in East Africa and at the same time create jobs and save lives in East Africa.
The Allens own a cattle ranch in the Stephenville area, a company called Nursery Direct and Rock House, an organization that serves developmentally-disabled individuals. They are also chairs on the Chancellor's Century Council at Texas A&M University.
They became involved with IAN in 2013 after being introduced to Matt and Laura Davis, founding members of the IAN and RENEW, which manages the IAN.
We were unable to speak with the Allens for comment at the time this article was being written, but Matt Davis said, "The partners at RENEW and families like the Allens, are passionate about unlocking the potential of businesses across Africa and helping the U.S. play a role in the continent's growth story.
“RENEW works with impact investors like the Allens to place capital into vetted businesses in countries like Ethiopia, and then we work with those companies to grow them into market leaders. We believe by doing this – basic Capitalism 101 - we will have a much greater impact on the continent over the long term."