The Global Directory of Development Finance Institutions
Do development finance institutions back first-time funds? Several say so in their own published material. The received wisdom is that they will not....
Yes — and there are more of them than any published list shows. One hundred eight non-profit trade associations represent private capital practitioners across 63 countries and customs territories, from venture and buyout to infrastructure, private credit and real estate. Private Capital Development checked every one against the association's own website and published the result as a free reference work.
The list below names every one of the 108 and where each is constituted. No association has been left out of it, and no organization paid for inclusion or was offered placement. What the list cannot carry — who may join, on what terms, and what each body actually does — is in the directory itself.
There is no maintained global directory of these bodies. The most widely cited list still carries the branding of the organization it replaced in 2021 and names associations under titles retired as long ago as 2010. Regional and academic compilations cover fragments. Nothing covers the field whole.
So we built one, checked every entry against the association's own website on a stated date, and published what we found — including the parts we could not confirm, which are marked as such rather than quietly dropped.
Fourteen bodies operate across borders by design; the rest are national or sub-national. Association names link to their own websites.
| Jurisdiction | Association | Acronym | Founded |
|---|---|---|---|
| Belgium (Brussels) | Invest Europe | — | 1983 |
| Central America — Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama (headquartered in Guatemala) | CAPCA — Central America Private Capital Association | CAPCA | — |
| Hong Kong, China | ANREV — Asian Association for Investors in Non-Listed Real Estate Vehicles | ANREV | — |
| Kenya (Nairobi), regional office in Uganda | East Africa Private Equity & Venture Capital Association | EAVCA | 2013 |
| Netherlands (Amsterdam) | INREV — European Association for Investors in Non-Listed Real Estate Vehicles | INREV | 2002 |
| Regional (launched Baku / Istanbul axis) | Turkic & Eurasian Venture Capital & Private Equity Association | TEVCA | 23 September 2024 |
| United Arab Emirates | Middle East Venture Capital Association | MEVCA | 2019 |
| United Kingdom (London) | AVCA — The African Private Capital Association | AVCA | 2000 |
| United Kingdom (London) | Alternative Credit Council | ACC | 2014 |
| United Kingdom (London) | Global Infrastructure Investor Association | GIIA | 2016 |
| United Kingdom (London) | The Alternative Investment Management Association | AIMA | 1990 (as the European Managed Futures Association; renamed AIMA in 1997) |
| United States (New York) | Association for Private Capital Investment in Latin America | LAVCA | 2002 |
| United States (New York) and Singapore | Global Private Capital Association | GPCA | 2004 |
| United States (Washington, DC) | Institutional Limited Partners Association | ILPA | 1990 (incorporated as a non-profit 2002) |
| Jurisdiction | Association | Acronym | Founded |
|---|---|---|---|
| Canada (Toronto) | Canadian Venture Capital & Private Equity Association | CVCA | 1974 |
| Canada — Quebec (Montreal) | Réseau Capital | — | 1989 |
| Canada — Alberta (Calgary) | Venture Capital Association of Alberta | VCAA | — |
| United States (Alexandria, Virginia, with a Washington, DC office) | AFIRE — Association of Foreign Investors in Real Estate | AFIRE | 1988 |
| United States (Washington, DC) | American Investment Council | AIC | 2007 |
| United States (Kansas City / Overland Park, KS) | Angel Capital Association | ACA | 2004 |
| United States (Chicago), with global chapters | Association for Corporate Growth | ACG | 1954 |
| United States — California (San Diego) | CONNECT | — | — |
| United States (New York) | Community Development Venture Capital Alliance | CDVCA | 1994 |
| United States — North Carolina (Durham / Research Triangle) | Council for Entrepreneurial Development | CED | — |
| United States — Florida | Florida Venture Forum | — | — |
| United States — Tennessee (Nashville) | Greater Nashville Private Capital Association | GNPCA | 2023 |
| United States — Hawaii | Hawaii Venture Capital Association | HVCA | — |
| United States — Illinois (Chicago) | Illinois Venture Capital Association | IVCA | 2000 |
| United States — Iowa | Iowa Venture Capital Association | IVCA | — |
| United States (New York) | Loan Syndications and Trading Association | LSTA | 1995 |
| United States — California (Los Angeles) | Los Angeles Venture Association | LAVA | — |
| United States — Michigan (Bloomfield Hills / Ann Arbor) | Michigan Venture Capital Association | MVCA | 2002 |
| United States (Washington, DC) | National Association of Investment Companies | NAIC | 1971 |
| United States (Chicago) | National Council of Real Estate Investment Fiduciaries | NCREIF | 1982 |
| United States (Washington, DC and San Francisco) | National Venture Capital Association | NVCA | 1973 |
| United States — New England (Boston) | New England Venture Capital Association | NEVCA | — |
| United States — New York | New York Venture Capital Association | NYVCA | — |
| United States — Pennsylvania (Philadelphia) | PACT — Philadelphia Alliance for Capital and Technologies | PACT | — |
| United States (Hartford, Connecticut) | Pension Real Estate Association | PREA | 1979 |
| United States — Pennsylvania (Pittsburgh) | Pittsburgh Venture Capital Association | PVCA | — |
| United States — Rocky Mountain region (Colorado and neighbours) | Rocky Mountain Venture Capital Association | RMVCA | — |
| United States (Washington, DC) | Small Business Investor Alliance | SBIA | 1958 |
| United States — Texas | Texas Venture Alliance | — | — |
| United States — New York (upstate) | Upstate Capital Association of New York | — | — |
| United States — Indiana | Venture Club of Indiana | — | — |
| Jurisdiction | Association | Acronym | Founded |
|---|---|---|---|
| Argentina (Buenos Aires) | Asociación Argentina de Capital Privado, Emprendedor y Semilla | ARCAP | 2016 |
| Bolivia | BOCAP — Asociación Boliviana de Capital Privado | BOCAP | — |
| Brazil (São Paulo and Rio de Janeiro) | Associação Brasileira de Private Equity e Venture Capital | ABVCAP | 2000 |
| Chile (Santiago) | Asociación Chilena de Venture Capital | ACVC | — |
| Colombia (Bogotá) | ColCapital — Asociación Colombiana de Capital Privado | ColCapital | 2012 |
| Ecuador (Quito) | ECUACAP — Asociación Ecuatoriana de Capital Privado y Emprendedor | ECUACAP | — |
| Mexico (Mexico City) | Asociación Mexicana de Capital Privado, A.C. | AMEXCAP | 2003 |
| Paraguay (Asunción) | PARCAPY — Asociación Paraguaya de Venture Capital | PARCAPY | — |
| Peru (Lima) | PECAP — Asociación Peruana de Capital Semilla y Emprendedor | PECAP | — |
| Uruguay (Montevideo) | URUCAP — Asociación Uruguaya de Capital Privado | URUCAP | 2022 |
| Venezuela (Caracas) | Venecápital — Asociación Venezolana de Capital Privado | Venecápital | — |
| Jurisdiction | Association | Acronym | Founded |
|---|---|---|---|
| Egypt (Cairo) | Egyptian Private Equity & Venture Capital Association | EPEA | 2011 |
| Ghana (Accra) | Ghana Venture Capital & Private Equity Association | GVCA | 2021 |
| Morocco (Casablanca) | Association Marocaine des Investisseurs en Capital | AMIC | 2000 |
| South Africa (Johannesburg) | Southern African Venture Capital and Private Equity Association | SAVCA | 1998 |
| Tunisia (Tunis) | Association Tunisienne des Investisseurs en Capital | ATIC | — |
| Jurisdiction | Association | Acronym | Founded |
|---|---|---|---|
| Israel (Tel Aviv) | Israel Advanced Technology Industries / Israel Venture Association | IVA | — |
| Saudi Arabia (Riyadh) | Saudi Venture Capital & Private Equity Association | VCPEA | 2019 |
| Türkiye (Istanbul) | Venture Capital Association of Türkiye | GİSED | — |
Each of these answers the same question for one part of the world, association by association, in the form a reader actually asks it.
The table above answers where each association is. The directory answers whether it is worth approaching, and how. Each of the 108 entries records the association's current name and any former one, where it is constituted, its legal form, its membership base, whether it publishes market data, what it convenes, whether members are listed publicly, and who may join — including whether firms based outside the jurisdiction are eligible. Every entry carries the date it was checked.
Download the directory — free, no charge for inclusion, no paid placement. The download opens as soon as you submit.
Russia is excluded from the directory as a matter of firm policy — a decision about where Private Capital Development works, not a finding about any association. The directory says so in its own pages rather than leaving the absence unexplained.
If your association is listed and something is wrong — or if it is missing altogether — tell us. Corrections carry no obligation of any kind and are folded into the following edition. Every entry is drawn from the association's own public website, and any association may correct its entry at any time by contacting us; the entries, and any judgment in them, remain ours.
Private Capital Development is a capital mobilization and brand-building firm — the bridge between fund managers and the institutional investors who allocate to them. We are not a placement agent, we do not sell securities, and we are not compensated on capital raised. Private Capital Development is not affiliated with, accredited to, or endorsed by the United Nations; the release timing marks the occasion and claims nothing more.
Do development finance institutions back first-time funds? Several say so in their own published material. The received wisdom is that they will not....
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