# Felipe Held

> Felipe Held is the New York-based co-founder and CEO of HMC Capital, which he founded with Ricardo Morales in Chile in 2009 after a career at LarrainVial. He leads the firm’s development and international expansion, participates in its multi-asset investment committee, and is also a co-founder of Xcala, an investment platform intended to broaden access to alternative assets.

- **Role:** Co-Founder & CEO at HMC Capital
- **Organizations:** HMC Capital, Xcala, HMC AGF, LarrainVial (former employer)
- **Nationality:** Chilean
- **Education:** Undergraduate degree in business administration / Ingeniería Comercial, Universidad Adolfo Ibáñez, Master’s degree in Finance, Universidad Adolfo Ibáñez, Executive Private Equity Diploma, as described in HMC’s current biography, Harvard University and London Business School
- **Known for:** Co-founded HMC Capital in 2009 and remains CEO., Helped develop HMC’s international expansion and proprietary investment products., Serves on the investment committee overseeing private equity, venture/growth, credit and real estate.

## Career timeline

- **Before 2009** — Started at LarrainVial as a trader; moved into international distribution, ultimately serving as Managing Director and Head of Sales.
- **2009** — Co-founded HMC Capital with Ricardo Morales in Chile.
- **2010** — Ran HMC’s Santiago office; described regional expansion and its Colombian joint venture.
- **2015** — Discussed the launch of HMC’s US$60.4 million Peruvian debt fund for medium sized companies.
- **2018** — Reported as leading HMC’s New York office; discussed the GSV Asset Management stake and a hoped-for Santiago accelerator project.
- **2022** — Co-founded Xcala; its initial rollout was reported in December.
- **2023** — Explained the full integration of HMC’s Brazilian operations following the Gama acquisition.

## Achievements

- Co-founded HMC Capital in 2009 and remains CEO.
- Helped develop HMC’s international expansion and proprietary investment products.
- Serves on the investment committee overseeing private equity, venture/growth, credit and real estate.
- Co-founded Xcala, whose December 2022 rollout targeted younger investors and reported a CLP 10,000 minimum.

## Latest updates

- **2025-11** — Discussed US multifamily real estate, private debt in Latin America and Xcala in a Diario Financiero interview published November 12.

## Links

- Website: https://hmccap.com
- LinkedIn: https://www.linkedin.com/in/felipe-held-b1743a73

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Profile page: https://yespress.io/felipe-held
Published by YesPress — https://yespress.io
Last updated: 2026-10-09