The ASEAN Business Advisory Council (ASEAN-BAC) has launched the ASEAN Private Markets Council (APMC), a landmark initiative aimed at unlocking the potential of private capital across Southeast Asia.
The council, announced under Malaysia’s 2025 ASEAN-BAC Chairmanship, seeks to tackle long-standing barriers in private capital development such as fragmented regulations, underdeveloped fund managers, and limited large-scale capital deployment opportunities.
Deputy Minister of Investment, Trade and Industry, YB Liew Chin Tong, who officiated the launch, said the APMC would serve as a vital partner for governments in fostering innovation and entrepreneurship.
“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,” he said.
According to McKinsey & Company’s report ASEAN’s Private Markets: Coming Together for Growth, private market capital in ASEAN accounts for only 0.5% of GDP—well below the global average of 1.5%—representing a funding gap of USD60 billion.
The newly formed council aims to bridge this shortfall by boosting regional investment flows and increasing capital access for venture and growth companies in ASEAN.
The APMC will be supported by more than 20 leading private financial market institutions, with founding members drawn from across ASEAN. From Malaysia, these include Artem Ventures, Bullhound Capital, Creador, Hive Southeast Asia, Navis Capital Partners, and 500 Global. Other members represent major players from Singapore, Indonesia, Thailand, and the Philippines.
The Malaysian Venture Capital and Private Equity Association (MVCA) and the Thai Venture Capital Association (TVCA) have also signed on as founding national members, ensuring a strong connection with industry associations.
Beyond these, the council will include sovereign funds and investment institutions as affiliate members, creating a broad ecosystem for private markets growth.
Tan Sri Nazir Razak, Chairman of ASEAN-BAC Malaysia and Chairman of the APMC Pro-tem Committee, said the council would focus on six strategic pillars to 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,” Nazir said.
The APMC is part of the broader ASEAN Private Capital Markets Initiative and aligns with Malaysia’s ASEAN-BAC Chairmanship theme of “Unifying Markets for Shared Prosperity.”
Observers say the establishment of APMC represents more than institutional progress—it marks a new era of coordinated private market growth across ASEAN, with the potential to channel more capital into entrepreneurship, innovation, and high-growth companies.