ASEAN-BAC ESTABLISHES ASEAN PRIVATE MARKETS COUNCIL TO UNLOCK REGIONAL INVESTMENT POTENTIAL
New strategic platform led by Malaysia together with Singapore, Indonesia, the Philippines & Thailand, to increase private capital flows and strengthen cross-border collaboration
Kuala Lumpur, 22 September 2025 – Today, the ASEAN Business Advisory Council (ASEAN-BAC) announced the establishment of the ASEAN Private Markets Council (APMC), a groundbreaking regional platform designed to unlock the full potential of private capital across ASEAN member states. Yang Berhormat Liew Chin Tong, Deputy Minister of Investment, Trade and Industry, Malaysia, delivered remarks at the occasion, underscoring the government’s support for initiatives that deepen ASEAN economic integration and drive inclusive growth.
Stemming from one of the 12 initiatives championed by ASEAN-BAC Malaysia during its 2025 Chairmanship, the APMC seeks to address the structural barriers that have historically constrained ASEAN’s private capital development including fragmented regulatory frameworks across member states; underdeveloped local fund managers; limited opportunities for large-scale capital deployment; a shallow and underperforming exit environment and a decline in fundraising from global investors.
According to the report “ASEAN’s Private Markets: Coming Together for Growth” by McKinsey & Company, total Private Markets capital in ASEAN is only equivalent to 0.5% of GDP compared to the global average of 1.5%. This translates to a USD 60 billion shortfall. By tackling key obstacles, the Council aims to drive regional investment flows and avail more capital for venture and growth companies in ASEAN.
YB Liew Chin Tong, Deputy Minister of Investment, Trade and Industry, Malaysia, said: “Private Markets, venture and private equity funds support innovation and entrepreneurship, which are key to accelerating ASEAN’s growth. With the launch of this Council, ASEAN governments will have a partner to help them break down barriers, attract long-term investment and drive liquidity and inclusive growth for the region.”
Through high-level dialogue, comprehensive research, and structured engagement with public and private sector stakeholders, APMC will also champion the development of a more transparent, agile, and investor-friendly environment.
Over 20 leading private financial market institutions across key ASEAN economies are committed to join APMC as Founding Members. The Malaysian Venture Capital and Private Equity Association (MVCA) has confirmed its role as a Founding National Member, alongside the Thai Venture Capital Association (TVCA), which is also joining as a Founding National Member.
These founding members represent a diverse cross-section of established private capital players across the region. They include from Malaysia: Artem Ventures, Bullhound Capital (global company), Creador, Hive Southeast Asia, Navis Capital Partners, and 500 Global; from Singapore: Argor Capital, Cento Ventures, CVC Capital Partners (global company), Genesis Alternative Ventures, Granite Asia, Ikhlas Capital, Integra Partners, Openspace Ventures, TC Capital, and Vertex Ventures; from Indonesia: AC Ventures, East Ventures, and Intudo Ventures; from the Philippines: Kickstart Ventures; and from Thailand: Lakeshore Capital.
Beyond these founding members, the Council will also encompass affiliate members comprising sovereign funds and investment institutions, creating a comprehensive ecosystem for Private Markets development that spans the entire spectrum of capital providers and market facilitators across the region. The committee also includes representatives from the national venture capital associations, ensuring strong connections with established industry associations.
“Through six strategic pillars, the APMC will build a more connected and resilient private capital ecosystem. We aim to enhance capital flows in the region, raise ASEAN’s visibility to global investors, strengthen integration, and drive collaboration across the region,” said Tan Sri Nazir Razak, Chairman of ASEAN-BAC Malaysia and Chairman of the APMC Pro-tem Committee.
As part of the broader ASEAN Private Capital Markets Initiative, the APMC establishment aligns perfectly with Malaysia’s ASEAN-BAC Chairmanship theme of “Unifying markets for shared prosperity”.
The establishment of APMC represents more than just institutional development; it signals a new era of coordinated Private Markets growth across ASEAN, promising to unlock previously untapped potential and channel more capital towards entrepreneurs, innovation, and high- growth companies.
