ENES
A US fund with deep Venezuelan roots

Rebuilding Venezuela's industrial backbone, from extraction to export.

VIOF is a US-managed investment fund. We partner with proven operators and Venezuelan institutions to rehabilitate essential industrial and infrastructure assets, and carry their products to international markets.

United States
Capital, governance and compliance
One firm. Two anchors.
Venezuela
Operations, relationships and execution
Who we are

A fund built by people who have run the assets.

The Venezuela Infrastructure Opportunity Fund (VIOF) was founded by a team that has owned and operated heavy industrial, logistics and construction businesses across Venezuela, the United States and Guyana. We have built and managed the kinds of assets we invest in, not only financed them.

Our principals are US persons and our fund entities are organized in the United States. Our operating roots are in Venezuela, where the team's companies have worked for more than sixty years and continue to move steel and heavy cargo along the Orinoco today.

That shows up in three ways day to day: river bulk transport and heavy lifting equipment in active service on the Orinoco, ongoing trading in minerals, raw materials and finished products, and a working knowledge of the industries and companies we target, built over years of doing business with them, not from the outside.

Two anchors

One foot in the United States. One in Venezuela.

Most capital that looks at Venezuela doesn't have deep local operating relationships. Most local operators don't have access to institutional-scale capital. VIOF was built to bring both together in one structure.

The US anchor

  • US principals and fund entities organized in the United States
  • Sanctions compliance as a gating requirement, reviewed by specialized OFAC counsel
  • US banking, reporting and governance standards from day one
  • More than two decades of board-level involvement in US heavy steel fabrication

The Venezuela anchor

  • Active steel distribution, processing and heavy transport businesses
  • Ocean-going tug and barge operations on the Orinoco, the logistics corridor at the center of our thesis
  • Long-standing working relationships with Guayana's basic industries, their suppliers and engineering firms
  • Native command of the legal, labor and operating environment
Our thesis

How we think about the opportunity.

Two decades of underinvestment left Venezuela's industrial base running far below its design capacity. We think capital and hands-on execution can close most of that gap faster, and more cheaply, than starting over. The Strategy page goes into how.

1

De-bottlenecking

Targeted interventions that unlock stranded capacity in existing plants with proportionately low capital.

2

Downstream value capture

Converting raw outputs into higher-margin, export-ready products sold at international prices.

3

Enabling infrastructure

Power, river logistics, terminals and processing capacity that every operator in a sector depends on.

4

Integrated platforms

Linking rehabilitated assets into operating platforms that are stronger together than apart.

Where we focus

Sectors whose products are priced and sold in US dollars.

We look across three sectors whose output is priced and sold in US dollars: mine-to-metal value chains, steelmaking and building materials in metals and basic industries; brownfield production enhancement and gas monetization in oil and gas, with no high-risk exploration; and the river transport, export terminals and hydroelectric rehabilitation that the other two depend on.

Several projects in active development, alongside experienced partners.

We are in diligence and negotiation on multiple projects with internationally recognized industrial operators, commodity houses and engineering firms. Project and partner names remain confidential until our agreements allow disclosure.

Who we work with

Three kinds of partners, one standard of conduct.

Investors

Institutional investors, family offices and qualified individuals seeking disciplined exposure to Venezuela's industrial recovery.

Government and state enterprises

Public institutions looking for a serious, well-capitalized counterpart that brings experienced operators and respects national ownership of strategic assets.

Strategic and operating partners

Operators, commodity traders, engineering firms and lenders that want a trusted local partner with institutional-grade governance.

Leadership

Engineers, operators and investors.

Meet the team
Nikola Kedzo
Partner
Isaac Murciano
Partner
Tania Murciano
Partner
Mauricio Van Dam
Partner

Let us talk about what can be rebuilt.

Whether you represent capital, a public institution or an operating company, we would welcome the conversation.