Commodities Company CAMSCORP Has Acquired NewGenAngels With Plans To Invest In And Scale Up Afrikan Tech Companies

CAMSCORP, a global commodity trading company headquartered in London and trades commodities, provides advisory services and funds new ventures, have today announced their acquisition of NewGenAngels, a members-only investment Club for high liquid professionals and sophisticated angels, Ultra High Net Worth Individuals, venture capital firms, family offices and angel networks with an interest in Africa.

The acquisition, according to CAMSCORP, will see them expand their "Ventures" division of the business, with Sean Ndiho Obedih (MD and founder of NewGenAngels) joining them to "work on expanding the Ventures arm of the organisation."

CAMSCORP Ventures, which will be driven by Obedih, will continue to look for Afrikan technology and digital startups to invest in, but these startups will need to be in a state where their main requirement for capital is for scaling up. "Technology is a key component of our strategic plan and we are looking for companies that are at scale up stage. They must have proven technology and markets but need capital to scale their operations." said Sean Obedih speaking to iAfrikan.

Obedih further explained that they will "go further and connect them (Afrikan startups) to any of the companies that are in our (CAMSCORP) supply chain." This will be possible partly because CAMSCORP is already active in 11 countries across Afrika, providing startups they invest in an opportunity to leverage on.

"Technology is a key component of our strategic plan and we are looking for companies that are at scale up stage."Sean Ndiho Obedih, Managing Director of NewGenAngels (acquired by CAMSCORP)

CAMSCORP has three business lines; Commodities, Ventures and Advisory. Commodities builds and operates commodity supply chains for raw through processed commodities from Africa. So far it operates out of 11 countries and has exported a wide array of products. Ventures advises African companies and entities on capital raising, where it has numerous mandates. And finally Advisory provides consultancy and advice for African business in commodity supply, infrastructure, agriculture and renewable energy.
CAMSCORP Ventures works with good African business looking for finance, and also has the investors looking for African investment in their portfolios.

Simon Glossop, CEO of CAMSCORP, says that their primary goal is to "build the preeminent commodities, advisory and ventures business and NewGenAngels allows our clients to have a wider access to vetted investment opportunities and expand our core operations in East and Southern Africa."

"Our progress over the last year has shown both the opportunity and potential for our business model” said Glossop.

"NewGenAngels allows our clients to have a wider access to vetted investment opportunities and expand our core operations in East and Southern Africa."Sean Glossop, CEO of CAMSCORP

One of NewGenAngels strengths has been its ability as a club to connect investors with startups. As an example, example four of five companies that pitched at their Africa Business Angels Forum event in March 2016 have already secured funding. "We have developed an unparalleled cross boarder network both in Africa and in Europe" explained Obedih.

The acquisition deal will also see the events business of NewGenAngels being rebranded as CAMSCORP Ventures and will "expand its activities by offering tailored Investment roadshows to private companies and governmental bodies."

Sean Obedih discusses the state of angel investing in Afrika.

Interesting to note is that the NewGenAngels brand and name will continue and all its services will now be accessed under the CAMSCORP brand.

“We are very pleased to be joining forces with a dynamic business who have a great track record and great ambitions. I have previously worked with CAMSCORP on our Africa Business Angel Forum event and looked at potential investment, we both share the same ambition and vision." Obedih said.

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