A group of investors from the United States and other countries is planning multiple trips to Venezuela in the coming weeks after Washington said it would restore diplomatic relations with the South American country, according to a Reuters report published on March 7.
The travel delegations include hedge fund managers, energy executives and dozens of investors who will meet Venezuelan politicians and business leaders to explore potential opportunities in sectors such as energy, finance, technology, oil and gas, and real estate, Reuters reported.
The visits come after the United States announced a move to re-establish diplomatic ties with Venezuela following the capture of former leader Nicolas Maduro by US President Donald Trump.
Advisory groups organising investor visits
According to Reuters, the trips are being organised by three advisory groups: Caracas-based Orinoco Research, New Jersey-based Trans-National Research, and London-based Signum Global Advisors.
Reuters first reported plans for the trips organised by Orinoco Research and Trans-National Research, while Signum Global Advisors’ trip had already been publicly announced.
The Reuters report said the investor delegations are expected to hold meetings with Venezuelan government officials and business leaders to assess potential investment prospects and evaluate the country’s economic outlook.
Investors exploring opportunities in oil, finance and technology
Venezuela holds the world’s largest proven oil reserves but faces more than $100 billion in debt that requires restructuring, according to the Reuters report.
The government led by Interim President Delcy Rodriguez has sought to improve relations with the United States following Maduro’s capture in January.
On March 5, the United States and Venezuela agreed to restore diplomatic relations, a development that has prompted renewed interest among investors evaluating opportunities in the country.
Jesse Cole, president of Miami-based Sky Drop Capital, told Reuters that investors see significant potential in the Venezuelan market.
“This is a coiled spring of opportunity… The Venezuela I left, I don't think is the Venezuela I'm returning to,” Cole said.
Cole previously established a manufacturing facility in Venezuela in 1998 before leaving the country in 2011.
He told Reuters that family offices, high net-worth investors and private equity firms are considering investments ranging from $25 million to $100 million each.
Trip schedules and planned meetings
The Reuters report said Trans-National Research is planning a trip on March 16-17.
Marc Zeepvat, president of Trans-National Research, confirmed the visit to Reuters but did not disclose the agenda or exact details. He said the purpose of the visit would be to assess Venezuela’s “macroeconomic and political stability”.
Signum Global Advisors is planning a trip with 55 participants scheduled for March 22-24.
Charles Myers, founder and chairman of Signum Global Advisors, told Reuters that roughly half of the participants are asset managers and hedge funds.
Orinoco Research is organising a two-day trip scheduled for April, founder Elias Ferrer confirmed to Reuters.
Ferrer said the participants, mainly bondholders, will meet senior Venezuelan officials to gather information and exchange views on the country’s debt restructuring plans.
According to Reuters, the trip will also include investors from the oil and real estate sectors and costs about $7,000 per participant.
Most participants are expected to be American investors, Ferrer told Reuters. The itinerary also includes a visit to the Los Roques archipelago.
Venezuelan officials expected to meet investor groups
Reuters reported that draft agendas for the trips include meetings with senior Venezuelan officials and financial sector leaders.
Officials expected to attend include Interim President Delcy Rodriguez, central bank policymaker Laura Guerra, Finance Minister Anabel Pereira, Mining Minister Hector Silva, PDVSA Chief Executive Hector Obragon and Caracas stock exchange CEO Jose Grasso, according to sources cited by Reuters.
The Venezuelan communications ministry, PDVSA, the central bank and the Caracas stock exchange did not respond to Reuters’ requests for comment.
US officials signal investor momentum
White House spokeswoman Taylor Rogers told Reuters that companies in sectors such as critical minerals, mining and oil and gas are moving at what she described as “Trump speed” to explore opportunities in Venezuelan markets.
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