Curtis Hosts Venecápital Delegation in Washington, D.C. to Discuss Building an Investable Private Capital Market in Venezuela

On October 22, 2026, Curtis hosted "Venezuela Reopens: Building an Investable Private Capital Market" at its Washington, D.C. office. The event brought a delegation from Venecápital, the Venezuelan private capital association, together with D.C.-based development finance institutions (DFIs) and institutional investors. The discussion focused on how private capital can help drive Venezuela's economic recovery beyond the oil and gas sector.

The program opened with a presentation by Cesar Dager and Gonzalo Fernandez of Tower Strategy on Venezuela's current economic and political landscape. Curtis partner Elisa Botero, who heads the firm's Latin America corporate practice, then moderated a panel with three participants, each bringing a key perspective: Pedro Urdaneta of Venecápital on the ecosystem, Phillip Henriquez of Knossos Fund as a fund manager, and Alberto Parodi of IDB Invest as an investor.

Key Themes

• Leapfrogging from the start. Venezuela has a rare opportunity to build a private capital market almost from scratch. Market participants aim to learn from other markets, build capabilities locally and adopt international best practices from day one. Venecápital, founded in 2019, is already laying that groundwork.
• The time to engage is now. As the energy sector recovers, other sectors are expected to follow, with opportunities in consumer goods, real estate, industrials and financial services. Panelists noted that strengthening the rule of law is a gradual process, but steps are already being taken in that direction.
• Long-term commitment, gradual process. DFI engagement with Venezuela is expected to be long term but gradual. For managers, the priority is to adopt strong governance standards and prepare to receive institutional capital. 

About half of the audience were members of the Venezuelan diaspora and half were non-Venezuelans. Participants highlighted the diaspora's role as crucial: it can bring an international track record to a nascent industry, along with a deep commitment to the country's economic rebirth.

Curtis' Capabilities

Curtis is a member of Venecápital and works with international investors and Venezuelan fund managers as the country's private capital industry takes shape. The firm's Fund Formation & Investment Management team advises sponsors and emerging managers on fund structuring, governance and investor relations. This work is supported by the firm's Private Equity and Economic Sanctions practices and its long-standing Latin America presence.