Richard Branson to open Startup Venezuela Summit in Caracas

British entrepreneur Richard Branson will open the Startup Venezuela Summit in Caracas, an event where 25 funds are looking for companies to invest in, Bloomberg Línea reported on October 21, 2026. The presence of the Virgin founder aims to connect international experience with a new generation of entrepreneurs in a market that is trying to attract capital on a sustained basis.

The event's organizer, Esteban Torbar, said the country's appeal lies in the combination of unmet needs and limited competition in certain sectors. According to Bloomberg Línea, the ecosystem seeks to move from its first success stories to a broader investment dynamic, in a context where investors are surprised by the small number of prior ventures relative to the number of problems to be solved.

During the summit, which will run from October 21 to 23, figures such as Adriana Cisneros, CEO of Grupo Cisneros, will take part. She is leading an initiative to raise a $1 billion private equity fund aimed at the country's recovery, according to data collected by Bloomberg Línea. Pedro Vallenilla, CEO and co-founder of Cashea, will also be present.

Funds' interest responds to particular conditions in the local market, such as a consumer considered an early adopter of digital products and the availability of payment methods that facilitate transactions. As a reference point for the size of the sector, Torbar told Bloomberg Línea that Venezuelan financial intermediation accounts for less than 5% of gross domestic product (GDP), well below the regional average of 50%.