Adriana Cisneros cautious comeback to Venezuela

Speaking to over 300 attendees at the Startup Venezuela Summit¹ (SVS) on October 23, 2026, Adriana Cisneros (Caracas, 1979) detailed how Cisneros Group², the century-old family conglomerate she has led since 2013, is leveraging entrepreneurship to pave the way for strategic reinvestment in Venezuela. 

During her keynote³, "A 100-Year-Old Vision: Investing, Operating, and Betting on Venezuela Again," the CEO outlined the transformation of Cisneros Group. Founded in Caracas in 1929 by her grandfather, Diego Cisneros, as a beverage distribution venture, the business evolved into a Miami-based global conglomerate spanning media, real estate, and technology, with operational roots in Venezuela. Historically, the group brought iconic international brands like Pepsi and Burger King to the country and continues to maintain an active investment portfolio⁴ in Venezuela. 

Here are three key takeaways from Cisneros' address, as heard by VZEconomics: 

1. The past: entrepreneurial roots  

"My grandfather structured his office to constantly launch new ventures," Cisneros explained. "He believed in maintaining a well-trained team of 'generalists' capable of recruiting top specialists for specific projects. I inherited this philosophy from my father, Gustavo Cisneros⁵, and it remains our operational model today." 

Cisneros noted that leadership succession was not guaranteed by family status. Originally planning a career in investigative journalism, her path shifted at age 24 when her father and then-Cisneros Group CEO Steve Bandel suggested she consider leading the company. "I pursued an MBA to learn how to ask the right questions and evaluate complex decisions. I concluded that stepping into the role was the right move, becoming CEO at age 27," she recalled (she is now 46 years old).  

2. The present: focus on people 

In addition to leading the group, Adriana Cisneros is an active independent investor. Driven by a long-standing interest in satellite technology, she made an early $10 million investment in AST SpaceMobile⁶ in 2018, a Houston-based company pioneering direct-to-cell broadband connectivity via low-Earth-orbit satellites—where she now serves as a board member. The venture was founded by fellow Venezuelan engineer Abel Avellán⁷. 

"We realized what Abel was building was so advanced that we couldn't find an outside expert whose assessment we completely trusted," Cisneros said. "Ultimately, we invested in Abel himself, not just AST. Investing is fundamentally about people." 

She also highlighted her role as a co-founder of Endeavor Miami (a business accelerator) in 2013. "Entrepreneurs are a tribe I continuously learn from," she told the audience to warm applause. 

3. The future: hopeful, yet careful 

For over a year, Adriana Cisneros has been evaluating opportunities to reinvest in Venezuela. Last April, Cisneros Group announced the launch of the Intrépida Fund⁸, a $1 billion private investment vehicle also backed by Latin American family offices as well as institutional capital from Dubai, Qatar, and the United States. By October, it had secured two-thirds of its capital goal, though final deployment remains on hold. 

"I am not ready to deploy Intrépida in Venezuela just yet," Cisneros told the SVS audience.  "These are American funds, American capital. It´s a matter of responsibility. In a year, I will probably be comfortable deploying those funds here.” 

The variety of responses from early backers has surprised her: “Some US-based funders wholly believe in the stabilization process led by the U.S. government, whereas Latin American family offices are careful: they have seen many in the region. I tell them all: I am being really careful.” 

Once active, Intrépida will prioritize infrastructure and leapfrog technology opportunities rather than traditional sectors like oil and gas. Cisneros also highlighted long-term potential in tourism, calling Venezuela "the most beautiful country in Latin America." 

 Intrépida remains open to new investment partners.