He belongs to a wealthy and well-known family of Caracas, linked to the local oligarchy that dates back to his great grandfather, Hermógenes López, as 22nd president of the Republic of Venezuela. President López was one of the persons responsible for bringing electricity to Valencia, at the time the most important state of Venezuela.
Betancourt has a double major in Economics and Business Administration from the Suffolk University of Massachusetts, United States. He started his career in a company specializing in the energy sector and in the exploration, production and trade oil and its derivatives, with presence in the U.S., Europe, Middle East, South America and Africa. He has served as business manager for Latin America. He later worked in Guruceaga Group, a company dedicated to international trade in goods, finance, real estate and farm, of which he was manager of new business; and BGB Energy, a company that was responsible for representing, in joint venture with the old GESCA GAS in Venezuela, international corporation Kawasaki Heavy Industries. As chief executive of BGB Energy, he participated in the Proyecto de interconexión Centro Occidente (ICO) of Venezuela. And also in a workshop planning for packaging related to power generation equipment.
He is co-founder, along with Pedro Trebbau López, of Derwick Associates Corp., a Venezuelan company dedicated to the energy sector. He has also co-founded eponymous companies in Panama, the United States, Spain, and Barbados.
In August 2015 Betancourt became director and member of the board of Pacific Exploration & Production Corporation.
In June 2015 the BDK Financial Group, of which Alejandro Betancourt is a major shareholder, inaugurated the Banque de Dakar headquarters in Senegal. The objective of the financial group is to offer banking services in Frech-speaking Africa. In March 2016 the group appointed Alfredo Sáenz Abad as president of the bank.
Since it started operations in 2003, the company has obtained eleven contracts for the construction of power plants in Venezuela; five contracts awarded by Electricidad de Caracas (to join Corpoelec in December 2011), five Petroleos de Venezuela SA (PDVSA negotiated with Bariven, a PDVSA division), and one by Corporación Venezolana de Guayana (CVG).
In January 2014, the business section of the Spanish daily ABC published an interview in which Alejandro Betancourt explained his strategy of turning Derwick into a major technology provider for Latin America.
In May 2015, O'Hara Administration, an international investment group led by Alejandro Betancourt, became the largest shareholder of the petroleum company Pacific Exploration & Production Corporation by controlling 19.5 percent of its shares.
In June 2015, Betancourt resisted a takeover bid by Alfa SAB and Harbour Energy Ltd.
By the end of August 2015 Betancourt increased his control over the shares of Pacific to 19.95% and was appointed director and member of the board. Betancourt publicly shared plans to expand the operations of the company and enter new markets to grow.
Betancourt leads the O’Hara administration group of international investors. The other key executive of the group as porfolio manager and director is Orlando J. Alvarado.
The group currently holds 19.95% of Pacific Exploration & Production Corporation shares. In August 2016, O’Hara together with the Mexican investor Fernando Chico Pardo presented a restructuring bid for Pacific worth $575 million.
In October 2016 O’Hara together with the founders of the Spanish social network Tuenti, Felix Ruiz and Hugo Arévalo led a financing round of 50 million euros for the Spanish sunglasses startup company Hawkers. In November 2016 Hawkers appointed Alejandro Betancourt as its new president.
In December 2013, Betancourt received the award issued by the Spanish magazine Capital for the "best technological initiative in Latin-America". The award recognized the construction of Derwick's TTC (Turbine Technology Center), which is located in an industrial area of Guácara, Carabobo State in Venezuela, measuring 10.000m2, with garages, offices and a training facility.
Thor Leonardo Halvorssen Mendoza, a human rights lawyer, alleged defamation and sued Derwick and Betancourt. Halvorssen also claimed they paid a $50,000,000 bribe to Diosdado Cabello, Speaker of the House of the Venezuelan National Assembly.
In response, Banco Banesco and Derwick Associates claim that the accusations are false.