BlockBeats News, June 13th, according to the Financial Times, the U.S. investment group is taking advantage of the opportunity created by Trump's previous attempt to overthrow Maduro, competing to seize control of underutilized oil fields in Venezuela. Miami-based hedge fund Lionheart Capital has taken the lead, signing a letter of intent to merge its publicly traded shell company, Lionheart Holdings, with Keo Energy, which owns oil field assets in Venezuela.

Sources familiar with the matter said that the merger would create the first Venezuela-focused oil company listed on the Nasdaq, providing a direct investment channel for U.S. and institutional investors. The report mentioned that through this merger, Lionheart plans to take the oil company public with a valuation of around $1 billion. Lionheart Holdings previously raised $230 million in 2024.

Sources said that the negotiations are still in the early stages and have not been finalized, so the deal could still fall through. Lionheart Holdings plans to hold a shareholder vote next week to gain more time to find an acquisition target, or else it may face liquidation.