Coors Brewing Heir Invests In Africa Rebirth

John K. Coors, great grandson of Coors Brewing Co. founder Adolph Coors, is spearheading a private equity vehicle to promote economic development in Africa.

The One Thousand & One Voices (1K1V) initiative is looking to raise and invest $300 million in small- to medium-sized businesses in Sub-Saharan Africa, including Kenya, Ghana, Nigeria and Mozambique. The fund will seek minority stakes of $10 million to $40 million in companies that have earnings between $2 million and $15 million. A spokesperson said the fund is not targeting specific industry sectors.