One Thousand & One Voices (1K1V), a movement of influential families investing relational, intellectual and patient financial capital to profitably accelerate prosperity in developing markets, today announced its formation. The announcement is being made in Cape Town in conjunction with the World Economic Forum on Africa.
Influential families conceived of 1K1V to help increase economic opportunity for families in developing markets. Each family’s capital is three-dimensional: relational capital leverages member family connections and reputation, intellectual capital leverages their business and industry knowledge, and patient financial capital provides the funding that developing-market businesses need to grow.
“One Thousand & One Voices 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 Dr. John Coors, chief executive officer of technical ceramics company CoorsTek and one of the movement’s initial family members.
1K1V intends to deploy $300 million in sub-Saharan Africa and similar or larger amounts in other geographies. Although 1KIV’s initial focus is sub-Saharan Africa – a region now experiencing robust economic growth but one that carries a substantial legacy of poverty, inefficiency, and undercapitalization – the movement is expected thereafter to focus on Latin America, Southeast Asia and Eastern Europe. 1K1V expects to use leading edge, proprietary tools to predict, measure and report impact.
1K1V’s model was designed to provide financial capital that is sufficiently patient to accelerate prosperity in developing markets, addressing a major shortcoming of traditional private equity and many impact investment funds operating today. 1K1V does not impose arbitrary limits on the duration of its investments, making it possible to provide capital that is as patient as may be required, which reduces the risk of impaired returns due to forced exits.