Three convictions we will not break.
The science changes and the markets turn. The discipline does not. Hillman Ventures backs frontier biotech the way an operator would, not a tourist.
Regulatory pathway first
The FDA pathway is settled before anything else. Capital, hiring, and timeline are built on top of it, not wrapped around it later.
Capital discipline as the moat
Discipline with capital is a competitive advantage. The companies that survive are the ones that respect the burn.
Relationships compound
Three decades of operating relationships are the renewable resource. They open the door a spreadsheet cannot.
Where the office concentrates.
The work runs through the regulator, so the office stays close to the science it has operated. Frontier biotech first, with selective interest in transformative technologies that change how regulated medicine is built and delivered.
Inflammation
Early science aimed at the inflammatory drivers behind chronic disease and slow recovery.
Tissue repair
Regenerative approaches to damaged tissue, where the biology and the FDA pathway have to be solved together.
Oncology
Tumor-based cancer programs built on a defensible mechanism and a clear route to the clinic.
Beyond biotech, the office takes selective positions in transformative technologies. Generic by design. Specific holdings stay private.
Built from inside the operating room.
Hillman Ventures did not start as a fund. It started with co-founding and running surgical hospitals, ambulatory surgical centers, CLIA- and COLA-accredited clinical laboratories, pharmacies, and FDA-registered implants and biologics companies across three decades, then exiting them.
That operating history is the edge. It is why the office concentrates on frontier biotech for inflammation, damaged tissue, and tumor-based cancers, where the path from science to patient runs straight through the regulator.
Past companies on /ventures Review the documented recordSectors operated and exited
- Acute care hospitals Owned
- Rehabilitation hospital Owned
- Ambulatory surgical centers Texas
- Clinical laboratories CLIA
- Pharmacy Retail, administrative, wholesale
- Medical devices FDA 510(k)
- Frontier biotech Active
The principal, and the past operating record.
Current role is below. Official marks of past-owned companies follow. The full list is on /ventures.
- CURRENT
- Principal, Hillman Ventures. A Dallas biotech family office, founded in 1995.
- PAST
- Past ownership and exited companies from the public record are listed on /ventures.
Official marks. Built and exited.
Past ownership. Marks of companies co-founded and operated, from the public record. The full list is on /ventures.
Notes from the field.
The Hillman Letter is where the thinking is published, from the FDA pathway to the realities of building in regulated markets. A selection of recent writing.
The principal also publishes primary research on regenerative biologics and oncology. See the record on ORCID and Academia.edu.
Andrew Jonathan Hillman.
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.
Raised in Oak Cliff and South Dallas and working in the family businesses from the age of six, he built that record from the ground up. The firm invests his own capital. It does not manage outside money.
His role at the office is set out in full on Andrew Hillman, Principal of Hillman Ventures.
About Andrew Hillman →Frequently asked.
What is Hillman Ventures?
A private family office in Dallas, founded in 1995 by Andrew Jonathan Hillman, investing in frontier biotech for inflammation, damaged tissue, and tumor-based cancers.
What does the firm invest in?
Frontier biotech and FDA-regulated healthcare, with an emphasis on regenerative medicine and tumor-based cancers, grounded in three decades of operating experience.
Who runs the firm?
Andrew Jonathan Hillman, principal, a Dallas entrepreneur and investor with a documented record of 89+ ventures and 85+ strategic exits.
Where is Hillman Ventures based?
Dallas, Texas.
