Less than a month after US forces captured Nicolás Maduro, Wall Street began drafting term sheets for Venezuela’s energy sector. Investment groups are treating the country’s vast reserves as a strategic acquisition opportunity, aligned with the Trump administration’s call for $100 billion in infrastructure reinvestment.
Lionheart Capital has entered a letter of intent to merge its Nasdaq-listed SPAC, Lionheart Holdings, with Keo Energy. The deal values the combined entity at approximately $1 billion, positioning it as the first Venezuelan oil company to trade on the Nasdaq. Lionheart aims to revitalize assets in the Maracaibo Basin, leveraging its $230 million raise from 2024.
Amos Global Energy Management, led by former Chevron executive Ali Moshiri, is targeting $2 billion through private placements. Moshiri’s operational expertise has attracted significant institutional interest following Maduro’s removal on January 3, 2026. Concurrently, Yorkville Advisors is raising $200 million via a SPAC, while Grupo Cisneros launched Intrépida, a $1 billion fund focused on energy and other sectors.
Venezuela holds the world’s largest proven oil reserves, yet production has plummeted to 1.1 million barrels per day from over 3 million in the late 1990s. The interim government is easing foreign investment restrictions, reversing years of sanctions and mismanagement that crippled PDVSA. The success of the Lionheart-Keo merger will likely set the template for future capital deployment, contingent on regulatory stability and production ramp-ups.