Zafiro Capital Sarl is the investment manager for Zafiro Capital Commodities Trading Fund. Stephen Smethurst is the CIO. Zafiro Capital began trading in November 2014. The highlight was an audited +72% gross return in 2016 when other commodity managers were struggling to make returns. Zafiro Capital Commodités Trading Fund closed June 2017 due to a lack of investment interest in the space and Zafiro Capital is currently offering managed accounts for commodity investors and providing some advisory services for investment banks, trading companies and oil producers and consumers. A seed investment of 100-200mnUSD is sought to restart a commodity fund or to finance a futures trading business across the commodity sector with the investment management company to be based in Geneva, London or NewYork.