It is time to look back at some of the most significant events that will likely shape the course of private capital in Asia in 2025.
Whether you are a founder, CXO-level executive in Asia’s startup ecosystem, a private equity or venture capital professional, or a limited partner investing in this region, there is no better way to start 2025 than checking out DealStreetAsia’s year-end special series.
Our year-ender series ensures you are best informed on top themes, across multiple asset classes, playing out in Asia’s fastest-growing markets.
We are delighted to offer 12 free reads from SE Asia, India and Greater China in our special year-end edition.
Southeast Asia
Five trends & strategies that will define Asia’s PE landscape in 2025
From the emergence of new strategies to capital flow seeking new alpha, the diversity of Asia and an underpenetrated private capital market make it an exciting region to invest in.
GP stake sales heat up in Asia as megafunds hunt for real assets, private credit
The race to tap larger capital pools from LPs is pushing a wave of asset managers to scale up through stake acquisitions in their counterparts in emerging markets like Asia.
Late-stage funding drought triggers shift in SE Asia’s investment landscape
The current funding dynamics point to the emergence of a new order in SE Asia’s tech markets. While the erstwhile hottest markets like Singapore, Vietnam, and Indonesia have slipped, Malaysia and the Philippines have seen a recovery.
Indonesia’s IPO market expected to rebound in 2025 despite challenges
The year closed with two big IPOs, including those of energy firm Adaro Andalan Indonesia and retail firm Daya Intiguna Yasa. There are at least three companies expected to list in the first quarter of this year.
Fewer Indonesian startups shut down in 2024, but layoffs rise as survival takes priority
Tokopedia, eFishery, and Bukalapak were among the notable companies trimming their workforce. While complete shutdowns were relatively few this year, layoff announcements also rolled in from Laku6, Xendit, Flip, Waresix, Edenfarm, Fazz, and Mapan.
2024: A year of strategic focus, adaptation for investors in Vietnam
Funding in Vietnamese tech startups continued to see a decline in 2024 reflecting broader macro trends and a cautious approach among investors. Moving into 2025, Vietnam’s tech industry is at a pivotal juncture. Opportunities abound in digital transformation, fueled by government initiatives to elevate the tech sector’s contribution to GDP.
India
India-focused PE-VC funds raise $6.8b in 2024, fail to match 2023 levels
The drop is natural as too much capital had gone into the PE-VC ecosystem in the previous years, even as dealmaking failed to keep pace due to macroeconomic headwinds.
India’s stock market rally steadies PE-VC exit proceeds in 2024
Even as the gains realised by PE-VC firms on their investments inched up in 2024 vis-à-vis 2023 — bringing some respite to investors watching the exit landscape — there is still a lot of catching up to do.
Top PE deals that defined the Indian investment landscape in 2024
While healthcare emerged as the most funded sector in the Indian private equity space this year in terms of value, e-commerce, manufacturing, fintech and enterprise software firms also evinced significant PE interest this year.
Greater China
Five trends that may shape China’s private equity industry in 2025
China’s ecosystem is still reeling from the ripple effects of US dollar investors recoiling from committing capital to Chinese GPs and firms. Investors in the country will need to keep updating their playbook as recovery seems slow and far-off at this moment.
10 startups that beat all odds to enter unicorn club in China in 2024
China’s VC and PE industry has navigated through a tough environment in terms of fundraising and exits in 2024. However, not all was lost. Even under such a gloomy climate, the market continued to see unicorns.
Asia’s first-time GPs endure coldest fundraising winter
Established fund managers in Asia have dominated the fundraising scene, accounting for 94% of the total capital raised in 2024. Emerging fund managers in the region only snatched 6% of the LP allocations.
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