Fivenca F.C., C.A.

—

What it is

Fivenca Fondo de Capital Privado, S.A. pools and manages capital to invest in mature Venezuelan industrial and commercial companies, and also buys and sells shares of companies already trading on Venezuelan stock exchanges. Think of it as a closed-end fund: shareholders own units of a diversified portfolio of Venezuelan private business stakes, quoted daily on the Caracas exchange.

The fund sits within Grupo Fivenca, which is licensed by the securities regulator SUNAVAL and operates across three lines of business: capital markets, corporate finance, and wealth management. Grupo Fivenca describes itself as a 100% Venezuelan-capital financial company focused on integrated financial solutions.

Who owns it

At listing in 2021, the fund’s registered capital was divided into 50 million shares: 2.5 million Class A shares (5% of capital) and 47.5 million Class B shares (95% of capital). Class A shares carry preferential rights; Class B shares make up the bulk of what trades publicly.

In late 2023 the board authorised a capital increase to Bs. 498,000 through the issue of 22,400 new Class A shares and 425,600 new Class B shares, offered exclusively to existing shareholders.

Not published: the BVC listing notice (Providencia Nº 054, 30 March 2021) and the capital-increase filing on the BVC website do not name individual controlling shareholders or their percentage stakes; Venezuelan securities rules applicable to investment funds do not require named-shareholder disclosure in exchange filings.

Who runs it

The fund’s annual financial statements for the year ended 31 December 2024 were audited by Marambio, Rivillo, Pérez, Pineda Contadores Públicos S.C., with the audit report dated 26 February 2025. The commissaries overseeing governance on behalf of shareholders are Lcdos.

Crismely Valenzuela and Miguel Ángel Ramos, who signed off on the FY2025 report dated 2 March 2026.

Not published: the names of the president, CEO, or other Junta Directiva members are not disclosed in any open BVC filing or on the group’s public websites; the BVC listing file and AGM notices reference “the board” collectively without naming individuals. Venezuelan market rules (Providencia 001-2021 on corporate governance) require that regulated entities maintain a board and publish governance policies, but do not mandate named-director disclosure in exchange notices.

The money, in plain words

Not published: Fivenca Fondo de Capital Privado’s revenue, net profit, total assets, net margin, return on equity, and price-to-earnings ratio are not available in any open online source. The BVC posts a notice of monthly unaudited financial statements (balance sheet and income statement) linking to grupofivenca.com, but those documents require a login and are not publicly accessible.

The FY2025 audited statements were presented to shareholders at the AGM on 30 March 2026 and made available at the company’s offices, but are not posted in machine-readable form on BVC or SUNAVAL. Under Article 94 of Venezuela’s securities market law, listed companies must file periodic financial information with SUNAVAL; the regulator’s public weekly reports confirm the fund trades actively but do not reproduce income-statement figures.

On the Caracas exchange in the week to 20 February 2026, FFV.B shares rose from Bs. 114.70 to Bs.

126.17, a gain of 10% in one week — equivalent to a move from roughly $0.16 to $0.18 at the prevailing official rate (1 USD = 707.92 VES).

What it is doing now

In January 2024 the company closed its share-registry book after completing the capital increase approved at the extraordinary shareholders’ meeting of 21 September 2023. That round was directed solely at existing shareholders — the fund is growing, but carefully, keeping ownership within its current circle.

Grupo Fivenca, the parent, claims more than 40 years of experience in Venezuelan and international financial markets, and Fivenca Casa de Bolsa — the brokerage arm — has 18 years of continuous operation. The most recent disclosed corporate action is the Ordinary Shareholders’ Assembly held 30 March 2026, at which FY2025 audited financials prepared by Marambio, Rivillo, Pérez, Pineda were reviewed.

What to watch

• Financial disclosure: The fund’s audited statements exist but are not publicly posted. Any move toward open digital publication on BVC or SUNAVAL would be a material step toward transparency — and a signal of ambition for international capital.
• Named leadership: Until the board discloses individual directors, governance-focused investors cannot assess concentration of control or conflicts of interest.
• Currency risk: Every bolívar figure is eroded by chronic Venezuelan inflation; the BVC’s own data show the fund’s shares priced in bolívares moving sharply week-to-week, which reflects currency dynamics as much as business performance.
• Portfolio companies: The fund’s mandate includes early-stage venture stakes as well as acquisitions and mergers — any disclosed deal or exit would be the clearest window into underlying value.
• Capital structure: With Class A shares representing only 5% of total capital, the governance balance between the two share classes — and who holds the Class A bloc — is the single most important undisclosed fact for any outside investor.

This is news, not investment advice.