HKPEFA has its root going back to 2010 where a group of finance professionals in the VC/PE industry who collaborated and developed professional activities to promote the industry standards and practices.

It resulted as a platform for finance and legal professionals in the VC/PE industry for sharing information and networking.

The Hong Kong group has grown from being a small network to over 120 individual members consisting of CFOs, COOs, controllers, finance managers and legal counsels from the industry. In 2013, envisioning that a legal entity is required, Hong Kong Private Equity Finance Association was formed. It aims to be a self-governing non-profit organization, while maintaining a strong tie with other professional bodies in the industry.