Collaborative governance among multiple stakeholders is typically essential for conserving complex social-ecological systems. Mexico’s ‘biocultural landscapes’ – a territorial governance initiative – may be seen as pioneering models to promote this. However, actual outcomes depend on the initial conditions, institutional design, leadership and details of the collaborative process. We used a mixed-methods approach combining social network analysis and semi-structured interviews to analyse the structure of the collaboration network within Mexico’s Sierra Occidental Biocultural Landscape (SOBL). Our findings revealed a sparse, low-reciprocity network dominated by a few public managers, indicating potential power imbalances and challenges to building trust. Stakeholder interviews showed misalignments with theoretical collaborative governance including power imbalances, limited inclusiveness and a lack of trust among participants. While the SOBL has achieved collaborative results, such as the community forest fire brigades and the development of land management plans, achieving its full potential as a model for biocultural conservation requires addressing power dynamics and building a more equitable governance structure.