Andrew Jonathan Hillman is Principal of Hillman Ventures, a Dallas private family office founded in 1995. Through Hillman Ventures, he invests in frontier biotech and brings an operator's perspective shaped by three decades in FDA regulated healthcare ventures.
His investment focus includes companies addressing inflammation, damaged tissue, and tumor based cancers. His work through Hillman Ventures connects long-term capital, operating experience, and strategic judgment across healthcare and biotech opportunities.
Current role
As Principal, Andrew Hillman sets the investment direction of Hillman Ventures and makes the capital decisions. The office invests his own capital. It does not manage outside money, and it does not raise a fund.
Day to day, the role is investment selection, diligence, and portfolio oversight. He reviews opportunities in frontier biotech, evaluates the science and the path a company would have to run to reach a market, and decides where the office commits.
Investment focus
Hillman Ventures invests in companies addressing inflammation, damaged tissue, and tumor based cancers. These are the three areas where the office concentrates its attention and its capital.
Inflammation
Companies working on the biology of inflammation, evaluated as investments on the strength of the evidence and the credibility of the plan.
Damaged tissue
Companies working in regenerative approaches to damaged tissue, assessed for scientific rigor, manufacturing feasibility, and capital requirements.
Tumor based cancers
Companies pursuing science aimed at solid tumors, held to the same investment standard as every other opportunity the office reviews.
This is an investment thesis. It describes where the office puts capital. It makes no claim about any product and no claim about any outcome.
Operating background
Before he invested, he operated. Across three decades in FDA regulated healthcare ventures, Andrew Hillman co-founded, built, and exited companies in surgical facilities, clinical laboratories, pharmacy, rehabilitation services, and medical devices. That record is documented on the ventures page and in the full biography.
The operating years shape the investing lens in a specific way. An operator knows that a company is not a slide. It is a manufacturing process, a quality system, a regulatory file, a payroll, and a schedule. So the questions come early and they are concrete. Can this be made at quality and at scale. What does the regulatory path actually require, in documents and in time. What happens to the company if a milestone slips two quarters. Where does the money run out.
That perspective is the reason the office is willing to look at science that a purely financial investor would price wrong, and the reason it walks away from science that reads well but cannot be built.
How Hillman Ventures works
The office is direct, long-term, and thesis-driven. Four things describe how it operates.
- Direct investment. Capital goes into companies directly. There is no fund, no outside capital, and no obligation to deploy on someone else's clock.
- Portfolio oversight. After an investment, the office stays engaged with the questions that decide the outcome, which are usually manufacturing, regulatory sequencing, and capital planning.
- Founder support. Founders get an operator to argue with. The value on offer is judgment from someone who has run FDA regulated companies, not a monthly reporting template.
- Long-term and thesis-driven. The office holds a view about inflammation, damaged tissue, and tumor based cancers, and it invests behind that view on a horizon measured in years.
Related sites
The advisory practice, where founders and boards engage him for guidance rather than capital, is published at Andrew Hillman advisory and consulting work.
The firm itself, including its convictions, its focus, and its notes from the field, is published at Hillman Ventures, the Dallas biotech family office.
See the firm in full.
Visit Hillman VenturesLast edited 12 July 2026, Dallas, Central Time.