Hillman Ventures invests where the science is early and the regulatory path is the hardest part. Three decades of building and exiting FDA-regulated healthcare companies, applied to the next generation of medicine.
The science changes and the markets turn. The discipline does not. Hillman Ventures backs frontier biotech the way an operator would, not a tourist.
The FDA pathway is decided before anything else. Capital, hiring, and timeline are built on top of it, not wrapped around it later.
Discipline with capital is a competitive advantage. The companies that survive are the ones that respect the burn.
Three decades of operating relationships are the renewable resource. They open the door the spreadsheet cannot.
Hillman Ventures did not start as a fund. It started with co-founding and running surgical hospitals, ambulatory centers, clinical laboratories, pharmacy, and medical-device companies across three decades, then exiting them.
That operating history is the edge. It is why the firm concentrates on frontier biotech for inflammation, damaged tissue, and tumor-based cancers, where the path from science to patient runs straight through the regulator.
Review the recordA selection from the documented portfolio, with locations. The full record and exits are maintained independently.
Andrew Jonathan Hillman is the principal of Hillman Ventures. A Dallas entrepreneur and investor, he has spent three decades building and exiting FDA-regulated healthcare companies and now invests in frontier biotech.
About Andrew Hillman →The Hillman Letter is where the thinking is published, from the 351(a) BLA pathway to RMAT designations and the realities of building in regulated markets.
Read The Hillman LetterA private family office in Dallas, founded in 1995 by Andrew Jonathan Hillman, investing in frontier biotech for inflammation, damaged tissue, and tumor-based cancers.
Frontier biotech and FDA-regulated healthcare, with an emphasis on regenerative medicine and tumor-based cancers, grounded in three decades of operating experience.
Andrew Jonathan Hillman, principal, a Dallas entrepreneur and investor with a documented record of 89+ ventures and 85+ strategic exits.
Dallas, Texas.
Andrew Hillman has helped take healthcare companies private and public, and has bought and sold healthcare businesses across multiple sectors. His portfolio includes Bone Solutions, Inc. (Southlake, Texas), an orthobiologics company with eight FDA 510(k) clearances.
The Apothecary Shop pharmacies (formerly Over the Counter, OTC) and Digimed.
Dynacq Healthcare (NASDAQ: DYII). The former Victory Hospitals, acquired by Nobilis Health Corp. (HLTH). Vista Hospital (Dallas, Texas; Baton Rouge, Louisiana; and Houston, Texas), a past hospital ownership. Andrew Hillman states Vista Hospital ranked number 2 on a 2002 Forbes list; that distinction reflects his account and is not independently verified here.
Medical groups, anesthesia groups, chiropractic groups, MRI and imaging centers, clinical laboratories, and pharmacies.