Southeast Asia’s private capital deal value jumped to $25 billion in 2024

International consulting firm Praxis Global Alliance has released its ‘Southeast Asia Investment Pulse 2025’ report, providing in-depth analysis of private capital developments in the region. A round-up of the report’s key findings.

Southeast Asia’s private capital market – comprising private equity and venture capital funds – witnessed a strong rebound in 2024, with deal value rising by 46% year-on-year to reach $25 billion. This marks the fourth-highest level recorded since Praxis Global Alliance began tracking the data a decade ago, underscoring the market’s resilience in 2024.

Transportation & logistics and IT services (digital infrastructure) emerged as the two largest investment sectors, claiming 34% of total private capital in the region. Traditional sectors such as financial services and healthcare meanwhile saw a decline in investment activity as the ecosystem continues to face challenges around valuation concerns, geopolitical risks and declining demand.

Singapore continued to host the majority of deals, both in volume and value, followed by Malaysia. In the Southeast Asia region, the Philippines was the fastest growing market for private equity and venture capital deals over the past three years.

Large-ticket investments led the growth in 2024 deal activity, with the share of large deals (over $500 million) increasing to 57%, its highest share in years.

Commenting on the report’s findings, Madhur Singhal, Managing Partner for Private Capital at Praxis Global Alliance, said: “Southeast Asia’s investment landscape has demonstrated exceptional resilience, with significant buyout deal activity underscoring a renewed focus on value creation.”

“Looking ahead to 2025, investors are increasingly bullish on infrastructure with a key focus on energy & renewables along with the growth in private credit investments. Despite global trade and valuation pressures, funds continue to prioritize infrastructure and digital sectors, with Malaysia’s surge reflective of this momentum.”

“The exit environment remains complex as IPO markets soften, propelling secondary and private credit transactions as alternate exit paths.”