INVERCASA SAFI is the first and only fund management firm in Nicaragua.

Founded in 2013, the company was granted regulatory approval a year later and established the first fund in 2014.

As a subsidiary of INVERCASA, the leading brokerage firm in the country, we leverage on more than 20 years of experience in the stock market, corporate finance, and asset management to provide our clients with a hands-off approach to their investment portfolio.

Our funds are publicly traded and authorized by the local securities regulator (SIBOIF).

Our Values

  • Accountability
  • Integrity
  • Transparency
  • Honesty
  • Respect

Our Mission

Provide investment opportunities that maximize the equity and add value to our clients, contributing to ease the access to capital markets with products designed for every type of investor.

Our Vision

Become the fund management firm leading in innovation and act as the go-to strategic ally for financial and real estate businesses in Central America.

 Our Board of Directors

Emiliano Maranhao

Emiliano has a Master’s in Business Administration from Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM) and Universidad Americana (UAM), as well as a Bachelor’s Degree in Business Administration from Universidad Centroamericana (UCA) in Managua.
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He is an Authorized Broker Agent of the Nicaraguan Stock Exchange (BVDN) and has over 15 years of experience in investment banking, treasury management, trading analysis, business valuation, feasibility studies, asset securitization, mergers and acquisitions, and security structuring.

Emiliano is also the Chairman of the Board of Directors at INVERCASA, our parent company.

Raúl Adolfo Amador Somarriba
Vice Chairman

Raúl Adolfo has a Bachelor’s Degree in Accounting from the Smeal College of Business of Pennsylvania State University, and a Graduate Degree in Finance and Investment through the Nicaraguan Stock Exchange (BVDN) at Universidad Americana (UAM) in Managua.
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He holds a Series 3 License required to trade futures and commodities from the U.S. Commodity Futures Trading Commission (CFTC). Additionally, he is also an Authorized Broker Agent at the Nicaraguan Stock Exchange (BVDN). He specializes in international markets and focuses in technical analysis. Raúl has over 5 years of experience in futures, options, stocks, and ETFs active trading.

Raul also acts as the Vice Chairman of the Board of Directors of INVERCASA, our parent company.

Carlos Eduardo Téllez Páramo

Carlos Eduardo has a Degree in Law from the Universidad Nacional Autonoma de Nicaragua (UNAN – Managua) and attended the Executive Program on Legal Aspects of International Business at Georgetown University Law Center together with INCAE Business School.
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He is an outstanding lawyer in Nicaragua, having participated in important transactions, mainly in the financial sector, telecommunications, infrastructure, distribution, commerce, services, and real estate. He has also been involved in the process of revision to introduce changes and motions of laws, decrees and bills to the National Assembly of Nicaragua.

Since January 2010, Carlos Eduardo acts as Managing Partner at the law firm García & Bodan in Managua, where he has worked since 2000.

Eduardo José Somarriba Lucas

Eduardo holds an MBA from Instituto Centroamericano de Administración de Empresas (INCAE). He is a Civil Engineer with a Degree from University of Costa Rica (UCR), and attended the Real Estate Development Program at New York University (NYU).
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He has experience in the financial sector, having participated in teams of securities structuring, business valuation and investment review. Eduardo has also participated the development of real estate projects with residential and commercial purposes, among them the Tower 2 of the INVERCASA Financial Center.

Since March 2014, Eduardo has been the General Manager at Desarrolladora Bonanzas de Centroamérica, S.A. (DEBOCASA).

Paul Bosche César

Paul graduated from the University of California Davis (UC Davis) with a Dual Degree in Agricultural Sciences and Management. He is a recognized Nicaraguan businessman with investments in several sectors, especially in agriculture and livestock.

Eduardo Ortega Segovia

Eduardo holds an MBA from Instituto Centroamericano de Administración de Empresas (INCAE). He also holds a Bachelor’s Degree in Economics from St. Mary’s University in Texas. Over the past 8 years, Eduardo has been actively involved in the local stock market while working for our parent company INVERCASA, where he is the current General Manager.

Our management team

Danilo Salinas Baldizón
General Manager

Danilo holds a Master of Finance (MFin) from the A.B. Freeman School of Business at Tulane University in New Orleans. He is a former Fulbright grantee and also holds a Bachelor’s Degree in Economics and Finance from Thomas More University in Managua.
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He has worked in several industries in the financial sector, such as commercial banking, brokerage, asset management and investment banking. Danilo has vast experience in financial modeling, business valuation, risk management and investment analysis. Throughout his career, Danilo has developed solid understanding of corporate finance, M&A transactions and capital markets.

Danilo is the General Manager of INVERCASA SAFI since May 2016 and is also a Member of the Board of Directors of INVERCASA, our parent company.

Aleyda Cecilia Hernández Solís
Internal Auditor

Aleyda has a Bachelor’s Degree in Public Accounting and Finance from UNAN – Managua and a Graduate Degree in Finance from Universidad de Ingenieria (UNI), as well as a Certification in Corporate Tax Management from the Camara de Industria de Nicaragua (CADIN). Furthermore, she is also a Certified Public Accountant (CPA) and a member of the School of Public Accountants of Nicaragua (CCPN).
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For over 25 years, Aleyda has taken part in the areas of Audit and Accounting of different banking institutions of Nicaragua, such as microfinance institutions, non-governmental organizations, government entities, and commercial enterprises.

She was an Ad Honorem member of the Comisión Fondo de Ahorro y Pensiones (FARE) and the Comision Mixta de Higiene y Seguridad (CMHS) from Banco Produzcamos.

Aleyda is the Internal Auditor of INVERCASA SAFI since September 2015.

Luz Morena Mejía Lara
AML Compliance Officer

Luz Morena has a Bachelor of Science in Computing from UNAN – Managua and an Anti Money Laundering Certified Associate (AMLCA) certification from the Florida International Bankers Association (FIBA).
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She has 8 years of experience in implementation and execution of Anti Money Laundering Program at various firms of the Nicaraguan exchange. Moreover, she has given speeches about this matter in local universities and international conferences. Her main tasks are the elaboration of procedures and controls to prevent the risks of money laundering and financing of terrorism, and the execution of training plans within the institution.

Luz Morena is the AML Compliance Officer at INVERCASA SAFI since June of 2014.

Jarvi Rivera Iglesias
Head of Accounting

Jarvi has a Bachelor’s Degree in Public Accounting from Universidad Paulo Freire in Managua and a Graduate Degree in Audit.
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Jarvi is the Head of Accounting at INVERCASA SAFI since October 2016.

Organizational Structure and internal Policies



Code of Conduct (in Spanish)




Conflict of Interest Policy (in Spanish)




Bylaws (in Spanish)




Organizational Chart (in Spanish)


Account Agreement



Account Agreement (in Spanish)


Financial Statements