# VC firms based in Hong Kong SAR China (2026 list) > 382 VC firms based in Hong Kong SAR China, 5% active in the last 12 months. Led by Qiming Venture Partners, HSG, Horizons Ventures. Ranked by what they funded. Source: https://millionrounds.com/lists/vc-firms-based-in-hong-kong-sar-china (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # VC firms based in Hong Kong SAR China Updated 7 November 2026 VC firms headquartered in Hong Kong SAR China. [See all 382 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fvc-firms-based-in-hong-kong-sar-china)The top 25 **382** investors on the list No change this week **172** cheques in 12 months *-30%* against the market **$14M** median round they joined *+69%* against the market median **5%** wrote a cheque in 12 months **4%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (7) - 1 [Qiming Venture Partners](https://millionrounds.com/fund/qiming-venture-partners) *Deploying now* VC firm · Hong Kong SAR China **526** **$25M** median round **Oct 2026** last seen - 2 [HSG](https://millionrounds.com/fund/hsg) *Deploying now* VC firm · Hong Kong SAR China **498** **$31M** median round **Oct 2026** last seen - 3 [Horizons Ventures](https://millionrounds.com/fund/horizons-ventures) *Deploying now* VC firm · Hong Kong SAR China **186** **$19M** median round **Sept 2026** last seen - 4 [Cyberport Hong Kong](https://millionrounds.com/fund/cyberport-hong-kong) quiet VC firm · Hong Kong SAR China **169** **$41K** median round **Aug 2015** last seen - 5 [Elevate Ventures](https://millionrounds.com/fund/elevate-ventures-3) *Deploying now* VC firm · Hong Kong SAR China **122** **$1.5M** median round **Sept 2026** last seen - 6 [Lilly Asia Ventures](https://millionrounds.com/fund/lilly-asia-ventures) *Deploying now* VC firm · Hong Kong SAR China **118** **$62M** median round **Sept 2026** last seen - 7 [Amber Group](https://millionrounds.com/fund/amber-group) *Deploying now* VC firm · Hong Kong SAR China **105** **$6.5M** median round **Aug 2026** last seen - 8 [Ceyuan Ventures](https://millionrounds.com/fund/ceyuan-ventures) quiet VC firm · Hong Kong SAR China **57** **$15M** median round **Jan 2019** last seen - 9 [Kenetic](https://millionrounds.com/fund/kenetic) quiet VC firm · Hong Kong SAR China **46** **$3.1M** median round **Jul 2025** last seen - 10 [Vectr Ventures](https://millionrounds.com/fund/vectr-ventures) quiet VC firm · Hong Kong SAR China **30** **$7M** median round **Mar 2021** last seen - 11 [Orchid Asia Group Management](https://millionrounds.com/fund/orchid-asia-group-management-ltd) quiet VC firm · Hong Kong SAR China **21** **$60M** median round **Apr 2019** last seen - 12 [SANDS](https://millionrounds.com/fund/sands) quiet VC firm · Hong Kong SAR China **15** **$40M** median round **Sept 2025** last seen - 13 [Harbor Pacific Capital](https://millionrounds.com/fund/harbor-pacific-capital) dormant VC firm · Hong Kong SAR China **9** **$7M** median round **Jun 2014** last seen - 14 [Spark Ventures](https://millionrounds.com/fund/spark-ventures-2) quiet VC firm · Hong Kong SAR China **9** **$26M** median round **Jun 2019** last seen - 15 [Betatron Venture Group](https://millionrounds.com/fund/betatron-venture-group) *Deploying now* VC firm · Hong Kong SAR China **8** **$5.2M** median round **Oct 2026** last seen - 16 [Bigcolors](https://millionrounds.com/fund/bigcolors) quiet VC firm · Hong Kong SAR China **8** **$140K** median round **Nov 2015** last seen - 17 [Nest](https://millionrounds.com/fund/nest-vc) dormant VC firm · Hong Kong SAR China **8** **$100K** median round **Aug 2015** last seen - 18 [C Ventures](https://millionrounds.com/fund/c-ventures) quiet VC firm · Hong Kong SAR China **7** **$60M** median round **May 2019** last seen - 19 [GT Healthcare Capital Partners](https://millionrounds.com/fund/gt-healthcare-capital-partners) quiet VC firm · Hong Kong SAR China **7** **$27M** median round **Sept 2019** last seen - 20 [MindWorks Capital](https://millionrounds.com/fund/mindworks-capital) quiet VC firm · Hong Kong SAR China **7** **$15M** median round **Oct 2019** last seen - 21 [Mandra Capital](https://millionrounds.com/fund/mandra-capital) quiet VC firm · Hong Kong SAR China **7** **$1.5M** median round **Jun 2019** last seen - 22 [Tom Stafford](https://millionrounds.com/fund/tom-stafford) quiet VC firm · Hong Kong SAR China **7** **$16M** median round **Nov 2019** last seen - 23 [Greenwoods Asset Management](https://millionrounds.com/fund/greenwoods-asset-management) dormant VC firm · Hong Kong SAR China **6** **$18M** median round **Jul 2015** last seen - 24 [SXE Ventures](https://millionrounds.com/fund/sxe-ventures) quiet VC firm · Hong Kong SAR China **6** **$1.2M** median round **May 2015** last seen - 25 [Sparx Ventures](https://millionrounds.com/fund/sparx-ventures) dormant VC firm · Hong Kong SAR China **5** **$801K** median round **Jul 2015** last seen **357 more on this list** All 382 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000. [See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fvc-firms-based-in-hong-kong-sar-china) ## The Newest Cheques Rounds this list's investors joined most recently - **29** Oct **[CoverGo](https://millionrounds.com/company/covergo)** Series B · $6M *Led by* [Betatron Venture Group](https://millionrounds.com/fund/betatron-venture-group) - **29** Oct **[Approaching.AI](https://millionrounds.com/company/approaching-ai)** Series B · $193M *With* [SenseTime](https://millionrounds.com/fund/sensetime) - **19** Oct **[Dream Labs](https://millionrounds.com/company/dream-labs)** Seed · $90M *With* [A Capital](https://millionrounds.com/fund/a-capital) - **12** Oct **[Infinigence AI](https://millionrounds.com/company/infinigence-ai)** Series C · $344M *With* [Qiming Venture Partners](https://millionrounds.com/fund/qiming-venture-partners) - **8** Oct **[Manus / Butterfly Effect](https://millionrounds.com/company/manus-butterfly-effect)** Growth · $500M *With* [HSG](https://millionrounds.com/fund/hsg) - **16** Sept **[Anew Labs](https://millionrounds.com/company/anew-labs)** Other · $290M *Led by* [HSG](https://millionrounds.com/fund/hsg) ## Stages This Year 158 rounds - Venture **29%** - Series A **15%** - Seed **13%** - Series B **11%** - Other **11%** - Other **20%** ## What They Backed Sectors, last 12 months - AI **41** - Biotech **39** - Pharma **15** - Healthcare **15** - Fintech **12** - Web3 & Crypto **11** ## Cheques by Quarter Led Joined 62 Q1 25 54 Q2 25 87 Q3 25 80 Q4 25 82 Q1 26 25 Q2 26 24 Q3 26 5 Q4 26 The last bar is the quarter still running. ## Lists Like This - [VC firms based in United States 25,936](https://millionrounds.com/lists/vc-firms-based-in-united-states) - [PE firms based in United States 19,904](https://millionrounds.com/lists/pe-firms-based-in-united-states) - [VC firms based in United Kingdom 2,451](https://millionrounds.com/lists/vc-firms-based-in-united-kingdom) - [VC firms based in China 1,473](https://millionrounds.com/lists/vc-firms-based-in-china) - [VC firms based in India 1,309](https://millionrounds.com/lists/vc-firms-based-in-india) - [VC firms based in Canada 1,211](https://millionrounds.com/lists/vc-firms-based-in-canada) - [VC firms based in Germany 1,186](https://millionrounds.com/lists/vc-firms-based-in-germany) - [PE firms based in United Kingdom 974](https://millionrounds.com/lists/pe-firms-based-in-united-kingdom) - [Incubators and accelerators based in United States 828](https://millionrounds.com/lists/incubators-accelerators-based-in-united-states) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about VC firms based in Hong Kong SAR China ### Who are the most active VC firms based in Hong Kong SAR China? By cheques observed, the most active are Qiming Venture Partners, HSG, Horizons Ventures, Cyberport Hong Kong and Elevate Ventures. ### How many VC firms based in Hong Kong SAR China are there? 382 are on record. 5% made an investment in the last 12 months and 4% have led a round. ### Which stages do VC firms based in Hong Kong SAR China back? Of the rounds with a named stage in the last 12 months, mostly Series A (25%) and Seed (23%). ### How big are the rounds VC firms based in Hong Kong SAR China join? The typical (median) round among the leading investors here is $15M. ### Which sectors do VC firms based in Hong Kong SAR China back most? In the last 12 months, mostly AI, Biotech and Pharma. ### Which VC firms based in Hong Kong SAR China lead the most rounds? Qiming Venture Partners (8 led), Horizons Ventures (8 led) and Betatron Venture Group (6 led). ### What have VC firms based in Hong Kong SAR China invested in recently? Recent rounds include CoverGo (Series B, Oct 2026, with Betatron Venture Group), Approaching.AI (Series B, Oct 2026, with SenseTime) and Dream Labs (Seed, Oct 2026, with A Capital). ### How is this list of VC firms based in Hong Kong SAR China ranked? By cheques observed, from the rounds and filings we watched, and never by anything anyone paid for. It is rebuilt every night. Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)