VRM Penzini Capital
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Private Equity · Puerto Rico & the Caribbean

Active ownership.
Enduring value.

We are operators who invest. We acquire and partner with companies across financial services, energy, media, and consumer brands — and we work alongside management to build businesses that endure.

“We do not buy companies to flip them. We buy them because we believe they should exist a generation from now.”

Carlos Penzini · Managing Partner
45+
Years of Operational Experience
12
Active Portfolio Companies
4
Industry Verticals
2
Strategic Geographies
The Firm

A firm built by operators.

VRM Penzini Capital is a private equity firm anchored in Puerto Rico, with offices in Coral Gables. We invest with our own capital and that of a small group of long-term partners.

Our team has spent decades building companies — not just financing them. That perspective shapes how we underwrite, how we govern, and how we measure success.

More about the firm →

“Great companies are not financed into existence — they are built, deliberately, by people who care about the outcome.”

The VRM Penzini Approach
Portfolio

Selected holdings.

Financial Services

Island Finance

Consumer lending platform serving Puerto Rico's underbanked.

Consumer & Spirits

Ron del Barrilito

A 145-year heritage rum distillery exported globally.

Media

Hello Media

One of Puerto Rico's fastest-growing out-of-home media operators.

Energy

Star Solar

High-performance residential and commercial solar.

Team

The managing partners.

Carlos Penzini

Managing Partner

Rafael Rojo

Managing Partner

Diego Rodríguez

Managing Partner