Fondo Petrolia – Clase B

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What it is

Fondo Petrolia is Venezuela’s first publicly traded investment fund designed to provide financing to companies that supply goods and services to the country’s hydrocarbon sector. According to its approved listing prospectus, its purpose is the investment, capitalisation, and financing of all types of commercial activity related to hydrocarbons — covering exploration, production, storage, transport, and marketing of oil, gas, and their derivatives.

Beyond direct oil-sector lending, the fund’s corporate objects allow it to invest in oil-and-gas ETFs and mutual funds, finance technology linked to the energy sector, and carry out social-investment projects including real estate, urban, and industrial financing. It may also issue promissory notes and commercial paper, and buy or sell a broad range of securities — giving it more flexibility than a traditional bank lender.

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Who owns it

The total capital of Bs. 20,000,000 splits into 2,000,000 Class A shares (10% of capital, held by the founders) and 18,000,000 Class B shares (90% of capital, sold to the public through the exchange).

The Class A shares were subscribed and paid by the founding promoters at incorporation, representing their 10% equity stake; the Class B shares constitute the publicly placed free float of 90%.

Among the seven named founders are Reinaldo Quintero — a former president of Venezuela’s Petroleum Chamber and head of Petropymi Fedeindustria — Álvaro Pérez Díaz, founding partner and director of Azex Industrial C.A., and Garabet Topalian Chahwan, president of Sola Trading C.A. The placement agent that brought the shares to market is Kairos Valores Casa de Bolsa.

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Who runs it

Álvaro Pérez serves as president of Fondo Petrolia. The full list of founding promoters — who collectively constitute the company’s governing group — includes Reinaldo José Quintero Figuera, Álvaro Pérez Díaz, Wilhelm Efraín López Peraza, Luis Alejandro Abreu Linarez, Víctor Manuel De Las Casas Sánchez, and Garabet Topalian Chahwan.

A separate CFO or board chair has not been individually named in available primary sources; governance details beyond the founding promoters are not disclosed in available sources.

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The money, in plain words

This is a brand-new company: it was incorporated on 9 September 2025, with a stated lifespan of 99 years. The original seed capital raised through the public offering was approximately US$200,000 — drawn from 20 million bolívar-nominal shares priced at a minimum investment equivalent to US$100 (roughly Bs.

4,000 at the time). No audited revenue or net profit figures exist yet; the fund has not published a first annual report.

The Class B share last traded at VES 285.00 (US$0.41)— nearly five times its VES 60.00 (US$0.09)debut low — implying that early buyers who held on have seen significant price appreciation on thin volume since the October 2025 listing. At VES 285 (US$0.41)and the current exchange rate of 698.47 VES per US dollar, the 18 million Class B shares carry a market value of roughly US$7.3 million (our calculation).

No dividend has been declared.

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What it is doing now

Venezuela’s securities regulator, SUNAVAL, confirmed the definitive registration of all 20,000,000 Fondo Petrolia shares in the National Securities Registry through Resolution N° 125 of 11 September 2025. The 18 million Class B shares began trading on the Caracas Stock Exchange on 1 October 2025.

The fund is actively marketing two financing windows on the exchange: one for short-to-medium operating expenditure (OPEX) financing for oil-service companies, and one for longer-term capital expenditure (CAPEX) through the exchange’s “Other Goods Market” mechanism. No deal closings or loan transactions have been publicly disclosed to date.

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What to watch

• First audited accounts. As a 2025 incorporation, Fondo Petrolia has yet to publish any annual report, revenue figure, or audited balance sheet. Those filings — due to SUNAVAL — will be the real test of whether capital is being deployed.
• Deal flow. The fund’s value depends entirely on its ability to place financing with creditworthy oil-service companies. Any named transaction or drawdown would be a meaningful signal.
• Venezuelan sovereign risk and FX. The bolívar has a long history of sudden devaluations; investors holding VES-denominated shares bear direct currency risk against the US dollar.
• Liquidity. The share carries a beta of just 0.05, suggesting it barely tracks the broader market — consistent with extremely thin trading volume on a frontier exchange.
• Regulatory environment. All activity requires SUNAVAL approval; any change in Venezuela’s capital-markets rules or oil-sector policy would flow directly to the fund’s operating room.

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This is news, not investment advice.