Us Family Biz Icon Launches Africa Fund
Monday, May 13, 2013
Dr John Coors, fourth-gen chief executive of ceramics company CoorsTek and a member of the Coors brewing dynasty, is behind the launch of an investment group targeting Africa that plans a new approach to investing in the continent.
One Thousand & One Voices (1K1V), launched in May in Cape Town, is looking to initially invest $300 million in Sub-Sahara Africa, but plans additional funds for other emerging market regions including Latin America and Eastern Europe. It plans to involve other wealthy families, signing up, among others Charles Widger, founder of Brinker Capital, a Pennsylvania-based investment manager.
“1K1V was established with the belief that the pathway to economic freedom – real prosperity for millions living in poverty – is through values-based private investment grounded in the time-tested principles of free enterprise,” said Coors.