The VC industry of China has witnessed a great increase in recent years. With the rapid development of VC industry in Mainland China, the VC-backed firms need an efficient method of management and a new thinking of guide to support their operation. We focus on the aspect of human capital and discuss application of knowledge-based theory to the firms of VC industry in Mainland China, based on our analysis to the situational survey. In the questionnaires, we investigate the statement of human capital in VC firms from several aspects, and compare human capital of the VC firms in Mainland China with one VC fund in New York City, as well as, the literature from Europe. Herein, we make conclusions as followings. Firstly, the importance of human capital of VC industry in mainland China is consistent with the literature of foreign countries; secondly, strengthening the incentive on human capital is benefit for the development of VC industry in mainland China; thirdly, the forthcoming operation of Growth Enterprise Board can promote to pricing human capital in mainland China.