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Coinbase co-founder Primavera seeks Venezuelan oil assets under US-backed framework

The reported talks involve control of fields in the Orinoco Belt blocks of Boca, Guico, and Guara, as interim Venezuelan authorities granted long-term concessions elsewhere under a US-backed restructuring.

Reported · Written up by our desk · Market Structure

Coinbase co-founder Fred Ehrsam’s separate investment firm, Primavera, is reportedly pursuing three Venezuelan oil assets as the country reallocates energy projects under a US-backed restructuring, according to CryptoSlate citing reporting from Reuters and Bloomberg. Bloomberg reported that Ehrsam is seeking control of at least three fields operated by Alvorada Heavy Industries in the Orinoco Belt blocks of Boca, Guico, and Guara, while Reuters said Primavera was among companies expected to sign Venezuelan energy agreements as soon as Sept. 2, without naming the fields. CryptoSlate reports that no blockchain, cryptocurrency, or digital payments component has been established for the reported transaction, even though Ehrsam maintains close ties to the crypto industry. Coinbase’s 2026 proxy filing lists him as a director, and Paradigm describes him as a co-founder and senior advisor.

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