Singapore, 13 July 2026 – Venture capital generated the strongest returns among private asset classes in the Asia-Pacific region during 2025, yet institutional investors have become increasingly cautious about committing new capital as geopolitical uncertainty, slower fundraising and delayed investment exits reshape the private markets landscape.

The asset class delivered an average return of 15.3% last year, outperforming private equity, infrastructure, private credit and real estate. Despite the superior performance, investor appetite has softened as many limited partners adopt a more selective approach to deploying capital.

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Bernard Lee

Bernard is a social activist dedicated to championing community empowerment, equality, and social justice. With a strong voice on issues affecting grassroots communities, he brings insightful perspectives shaped by on-the-ground advocacy and public engagement. As a columnist for The Ledger Asia, Bernard writes thought-provoking pieces that challenge norms, highlight untold stories, and inspire conversations aimed at building a more inclusive and equitable society.