Team

Experienced, entrepreneurial,
fully aligned

An investment committee and advisory board with deep financial and operational experience, and an executive team that structures, executes and operates every investment end to end.

Leadership

Investment Committee & Advisory Board

Luis Felipe San Martín

Luis Felipe San Martín

Managing Partner

Founder and Managing Partner of 12ten Capital (formerly Frontal Trust U.S.). Before founding 12ten, he was a Managing Partner at HCS Capital; earlier, he held senior roles in the Chilean public sector, serving in the administration of President Piñera. In the U.S. since 2013. Civil Engineering degree, Universidad de Chile; MBA, Harvard Business School; MPA/ID, Harvard Kennedy School.

View full bio →
Felipe Figueroa

Felipe Figueroa

Managing Partner

Managing Partner at 12ten Capital (formerly Frontal Trust U.S.). Before joining 12ten, he was COO at Independencia Asset Management LLC for 9 years, after serving as Director of Asset Management at the same firm. Earlier, Project Finance at Banco BBVA Chile. In the U.S. since 2010. Civil Engineering degree, Pontificia Universidad Católica de Chile.

View full bio →
María José Meneses

María José Meneses

Investment Committee · Advisor

20 years of experience in Tax and Corporate Law. Director at Inmobiliaria Imagina Chile and Exxacon, and In-House Counsel at Elyon SpA, where she leads tax and legal advisory. Previously Director of Tax and Legal Services at PwC Chile and Senior Associate at Grasty, Quintana, Majlis y Cía. Law degree, Universidad de Chile, graduated with highest distinction.

View full bio →
Alex Horvitz

Alex Horvitz

Investment Committee · Advisor

Former Senior Partner at McKinsey & Company, where he led the Banking Practice in Europe and the Technology Practice in Latin America. After McKinsey, Alex started HCS Capital, a Miami-based investment firm focused on fintech, insurtech and cyber risk investments across the U.S., Latin America and Israel. Bachelor’s and Master’s in Industrial and Operations Engineering, University of Michigan.

View full bio →
Miguel Nazar

Miguel Nazar

Investment Committee · Advisor

Over 20 years of experience as an executive and entrepreneur across logistics, operations and technology. Executive Director at Transportes Nazar and Founder of Keylogistics, focused on logistics for Chile’s food industry. Board member at Keytools, Grupo Medical and CLAVE. Industrial Civil Engineering degree, Universidad de Concepción; Master’s, Pontificia Universidad Católica de Chile.

View full bio →
Marc Jux

Marc Jux

Investment Committee · Advisor

Experienced executive and advisor with 20 years of leadership across investments, industry, aquaculture, services, finance and technology. His career spans operational roles and strategic oversight, with recent years focused on board participation. Civil Engineering degree, Pontificia Universidad Católica de Chile; MBA, Stanford University.

View full bio →
Executive Team

Asset management, acquisitions & operations

Luis Felipe San Martín

Luis Felipe San Martín

Managing Partner

Founder and Managing Partner of 12ten Capital (formerly Frontal Trust U.S.). Before founding 12ten, he was a Managing Partner at HCS Capital; earlier, he held senior roles in the Chilean public sector, serving in the administration of President Piñera. In the U.S. since 2013. Civil Engineering degree, Universidad de Chile; MBA, Harvard Business School; MPA/ID, Harvard Kennedy School.

View full bio →
Felipe Figueroa

Felipe Figueroa

Managing Partner

Managing Partner at 12ten Capital (formerly Frontal Trust U.S.). Before joining 12ten, he was COO at Independencia Asset Management LLC for 9 years, after serving as Director of Asset Management at the same firm. Earlier, Project Finance at Banco BBVA Chile. In the U.S. since 2010. Civil Engineering degree, Pontificia Universidad Católica de Chile.

View full bio →
Tomás Tagle

Tomás Tagle

Director

Joined 12ten Capital in 2021 after a career in investment banking at Link Capital Partners, focusing on M&A, valuations and debt structuring. BSc in Business Administration, Pontificia Universidad Católica de Chile.

View full bio →
Víctor Cabrera

Víctor Cabrera

Chief Operating Officer

Joined 12ten Capital in 2023 after almost nine years at Banchile Inversiones and prior experience at the Central Bank of Chile. BSc in Business Administration, Universidad de Santiago.

View full bio →
Cornelio Saavedra

Cornelio Saavedra

Investment Associate

Joined 12ten Capital in 2025 after working in investment banking at Link Capital Partners, focusing on M&A processes, valuations and debt structuring. Civil Engineer, Pontificia Universidad Católica de Chile.

View full bio →
Reinaldo Rivas

Reinaldo Rivas

Senior Investment Analyst

Joined 12ten Capital in 2025 after working in wealth management at ALTIS, focusing on investments across all asset classes. BSc in Business Administration, Pontificia Universidad Católica de Chile.

View full bio →
Clemente Zegers

Clemente Zegers

Investment Analyst

Joined 12ten Capital in 2025 after working as an investment analyst at Penta Vida Compañía de Seguros de Vida, focusing on fixed income and alternative assets. BSc in Business Administration, Universidad de Chile.

View full bio →
Tomás Zavala

Tomás Zavala

Middle Office Analyst

Joined 12ten Capital in 2025 as a Middle Office Analyst. BSc in Business Administration, Universidad Adolfo Ibáñez; Master in Finance, UAI.

View full bio →
Karen Bermudez

Karen Bermudez

Property Manager

Oversees the operations of 12ten Property Management. 10+ years of client service experience in hospitality and homeowners' associations in Florida.

View full bio →