Hong Kong Venture Capital and Private Equity Association (HKVCA) was established in 1987 with the objectives of promoting and protecting the interests of the venture capital industry in Hong Kong. The Association was formed based on a recommendation in the Working Party of the Hong Kong Association of Banks' study of venture capital.

HKVCA's mission is to stimulate a vibrant venture capital and private equity industry in Asia while promoting the role of member firms in value creation, innovation and economic development. HKVCA provides a forum for networking and experience sharing for its members; promotes industry professional ethics, international best practices and standards; and represents the views of its members before governmental and other relevant bodies.

The first venture capital funds were formed in Hong Kong in the early 1980s with money raised from local and foreign investors. Hong Kong's low and relatively uncomplicated tax structures, financial infrastructure and efficient communications have encouraged many venture capitalists to set up their operations in the Special Administrative Region. While many of the venture capital's investments are China related, Hong Kong is also the center for their regional investments.