CARACAS, Venezuela, April 15, 2016 /PRNewswire/ -- Vepica, an international engineering, procurement, and construction firm with more than four decades specializing in the energy industry accumulating more than 40 million man-hours on four continents throughout more than 3,500 completed projects around the world, announced today that it signed a Memorandum of Understanding for the creation of the "Vepica Energy Fund," along with Petromanoa, a company whose investors have a long and robust tradition of designing, implementing, and developing investment funds, thereby combining their efforts to launch an investment fund for energy projects in the Americas.
The "Vepica Energy Fund" will be formed with capital from both partners, and will aim to finding attractive investment opportunities in the energy sector.
"The fund will play a key role in the growth of our company, extending the value proposition of the business by participating as investors in our projects," said Miguel Bocco Jr., Chairman of the Board of Vepica.
"With this fund, we'll be able to expand our participation in the very important global energy market, combining our efforts and experience with a company as successful as Vepica, and also allow the participation of small investors in the capital of this important sector for the economic development as is the energy area," said Herman Sifontes T., Chairman of the Board of Petromanoa.
With the creation of this fund, Vepica and Petromanoa seek to strengthen their presence in the energy market by participating directly in various prospects. This initiative will favor energy sector companies seeking partners and/or investments to expand their operations, and they will be able to register for the "Vepica Energy Fund" in limited partnership to qualify for benefits.