About me

I'm Pepe Carrillo. Mexican, trained as a lawyer, based in Barcelona. I build the structural foundations of startups — ownership, governance, capital architecture — so founders can focus on what they actually want to be doing.

I call this venture architecture. I made the term up. The work is as old as business itself. But nobody had a good name for the thing that sits between "expensive lawyer who sends you a 40-page memo you'll never read" and "your mate who did a startup once and thinks he knows everything."

$6B+ in transactions
$500M+ raised for founders
10+ countries
15 years

The long version

I grew up in Mexico City. Studied law because my mother said it was a good idea and she was right about most things. Moved to London and spent years at Goldman Sachs, where a misplaced comma in a $2 billion facility agreement could end your career and the coffee was surprisingly bad for a place that made that much money.

Goldman taught me how structure works at scale. How the invisible architecture of deals — the governance clauses, the liquidation preferences, the board composition math — determines who gets rich, who keeps control, and who gets quietly pushed out. I learned that the most important parts of any deal are the parts nobody reads until something goes wrong.

Then I went to Africa.

I moved to Nairobi, then Kigali, then wherever the work took me. I started working with founders — mostly in East Africa — who were building extraordinary things on structural foundations held together with duct tape and optimism. Brilliant products. Terrible cap tables. I once closed a deal structure on a napkin in a Nairobi bar because the power went out and nobody could open their laptops.

That's when I realized the thing I was good at. Not the law — the architecture underneath it. The structural decisions that cost $3,000 to get right at incorporation and $300,000 to untangle at Series B. The conversations founders need to have before they raise money, not after. The stuff that's invisible until it breaks, and when it breaks, it breaks everything.

So I built Mexzungu Group. An outlaw studio for venture architecture. We help founders design structures that survive the earthquake — because in startup land, the ground is always shaking.

Why I write

Because someone told me to write a "startup structure for dummies" guide and I got annoyed enough to write a real one. Because the best structural advice is buried in 40-page legal memos that nobody reads. Because every week I meet a founder who made a $85,000 mistake that a single conversation could have prevented.

I write the conversations I wish founders had before they needed them. If something I publish here saves one person from a preventable structural crisis, the whole site was worth building.

Four things. Tattooed on everything I do.

Think like a founder

Understand the business first. The legal analysis follows. If you can't explain why your advice matters in money terms, you haven't finished thinking.

Move like an operator

Speed matters. Precision matters more. But neither matters if you can't ship. The world rewards people who do things, not people who think about doing things.

Lead, don't just advise

Leading means owning the outcome. Being the person who says "here's what we should do" not "here are some options for your consideration."

Stay hungry

The moment you think you've made it is the moment you stopped growing. Complacency kills careers faster than mistakes do.

What people say

"Can switch between radical and conventional approach to secure results, as needed. Super creative, talks the talk and walks the walk, legal rockstar, fun to work with."

Michael Muturi · Head of Biochar, Tupande (One Acre Fund)

"I know someone extraordinarily capable who will enable you to do things you thought were impossible to achieve. Get ready to rumble, he is no joke."

Lucie Talichet · Senior IP Legal Counsel, ALX

Where to find me

I'm based in Barcelona. I work across Africa, Latin America, Europe, and anywhere the founders are interesting and the problems are structural.

Stay in the loop

New essays on venture architecture, governance, and the things nobody tells founders.