Acequia Capital

Hank Vigil, the firm's co-founder and managing partner, leads investment decisions. Vigil spent over a decade at Microsoft in corporate strategy and M&A before establishing Acequia. The firm does not publicly detail a broader investment committee, but its model relies heavily on Vigil's network of former operating executives who contribute to deal evaluation and portfolio support.

Acequia sources the majority of its deal flow through its distributed network of seasoned technology operators. Because these operators are often active in the Pacific Northwest startup ecosystem as advisors, board members, or interim executives, they surface companies before they reach broad institutional processes. The firm's reputation among Seattle-area founders—driven by its early involvement with companies like Remitly—generates a consistent inbound referral stream.

Acequia operates as a venture firm, but its structure is not that of a typical closed-end fund. The firm deploys capital flexibly without the fixed fund-life constraints that drive conventional venture fund behavior. This allows Acequia to hold positions for extended periods and engage with portfolio companies on a timeline dictated by fundamentals rather than fund mechanics.

Acequia's primary activity is direct investing into seed-stage technology companies. The firm is not known for making fund-of-fund commitments to other venture managers. Its model is built on the premise that direct engagement—coupled with operational support—produces better outcomes than passive LP positions in third-party funds.

Acequia targets the seed stage almost exclusively. The firm's operator-heavy model is designed for companies at the earliest commercial inflection points, where decisions about product architecture, initial go-to-market hiring, and technical roadmap have outsized consequences. Acequia rarely participates in Series B or later rounds unless maintaining a pro-rata position in a strongly performing existing portfolio company.