Asian CEOs and VCs do exist, but I would guess those demographics are underrepresented. I would guess this is due to the first few waves of entrepreneurs being mostly white (Fairchild and Microsoft company photos were much paler than a typical company today). Remember, the whole country was much whiter then, and the United States as a whole has over 5x the proportion of Asians today as compared to when SV was getting started[1]. Asian VCs I can think of made money off of late 90s companies and Facebook.
[1] http://thesocietypages.org/socimages/files/2013/05/Screen-Sh...