Cisneros Group’s US$ 1 Billion Venezuela Fund Steers Clear of Oil
A fund called Intrépida targets US$ 1 billion to invest in Venezuela. Two thirds is already committed, and hydrocarbons and mining are ruled out. The post Cisneros Group’s US$ 1 Billion Venezuela Fund Steers Clear of Oil appeared first on The Rio Times .
Adriana Cisneros, the chief executive of the Cisneros Organization, announced a plan to invest US$ 1 billion in Venezuela's economy. The family's oil disputes are outside the scope of this fund. The newly formed private investment vehicle, called Intrépida, aims to invest in sectors the Cisneros Organization feels comfortable with.
These sectors include agro-industry, real estate, infrastructure, basic services, telecommunications, and luxury tourism built around environmental sustainability. The US$ 1 billion investment is the headline figure, with no single transaction announced yet. The investment plan was presented at the Bolsa de Valores de Caracas, the Caracas Stock Exchange.
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