High Risk Books was founded in New York City in 1993, as an imprint of Serpent's Tail Press of London. It was started by Ira Silverberg and who was then an editor at City Lights Books in San Francisco. Its titles were designed by Rex Ray. High Risk Books ceased operation in January 1997 because of disagreements with Serpent's Tail in London, although books bearing the High Risk logo continued to be published through Serpent's Tail until 2002.