India largest two-wheeler maker Hero MotoCorp Ltd has raised its stake in its joint venture in Colombia from the existing 51% to 68%. Consequently, the stake held by partner Woven Holdings LLC has declined to 32%. The joint venture, HMCL Colombia SaS, was formed in 2014 and Hero MotoCorp owned a controlling stake through its wholly owned subsidiary, HMCL Netherlands BV, for sale, distribution and marketing of its products in Colombia.