Hi Ventures

Co-founders Daniel Llano and Mauricio Villarreal make investment decisions jointly. Llano brings operational and financial expertise to the partnership; Villarreal contributes technology and product judgment. The firm has not publicly disclosed additional investment committee members or the presence of external limited-partner advisory committees.

The firm sources opportunities through a network of Mexican business families that anchor its investor base, combined with direct relationships inside Mexico City's technology ecosystem. This dual channel — family-office networks plus founder referrals — gives Hi Ventures visibility into companies before they reach international institutional investors. The firm also benefits from the co-founders' long tenure in Mexico's venture market, where they have been active since 2012.

Hi Ventures operates as a hybrid — a venture capital firm that raises capital from multiple Mexican and international family offices rather than managing wealth for a single family. This multi-family-office-style limited-partner base gives the firm flexibility in fund structure while providing portfolio companies with access to strategic relationships inside Mexico's largest conglomerates.

The firm focuses on seed and early-stage investments, writing initial checks between $500,000 and $2 million. Hi Ventures reserves capital for follow-on investments through Series A rounds. It does not typically participate in pre-seed or late-stage growth equity, staying concentrated on the first institutional round through early scaling.

Mexico is the primary market, accounting for the majority of portfolio companies. The firm also invests across Spanish-speaking Latin America and selectively backs US-based startups that target cross-border opportunities between the US and Latin American markets. This geographic concentration reflects the co-founders' thesis that Mexico's domestic economy — the second-largest in Latin America — remains under-digitized relative to its size.

Hi Ventures has not published a formal exclusion list, but its portfolio concentration in FinTech, PropTech, enterprise software, digital health, and mobility suggests the firm avoids sectors that require deep scientific expertise — biotech, hard tech, semiconductors — or capital-intensive industries such as traditional energy and heavy manufacturing. The firm targets asset-light, software-driven business models.

The firm reserves capital for pro-rata follow-on through Series A, consistent with the strategy of leading or co-leading seed rounds. Hi Ventures has not publicly disclosed the size of its opportunity fund or follow-on reserve ratio. When portfolio companies — such as payments platform Clip — attract larger international investors at Series B and beyond, Hi Ventures typically does not attempt to match those rounds.