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Laxman Pai, Opalesque Asia:

APAC-focused private equity & venture capital (PEVC) assets under management (AUM) have surged in recent years to a record-high $1.29tn as of December 2019, marking a staggering 34% increase from a year prior, said Preqin.

"Strategies targeting generally more innovative and faster-growth sectors hold the bulk of dry powder, highlighting a strong base of available firepower to tap into emerging technologies and industries," said Mark O'Hare, CEO, Preqin.

More than three-quarters (79%) of PEVC fund managers are based locally, with Greater China home to the majority (54%) of all firms investing in the region, the report pointed out.

On the investor front, though, 64% of LPs interested in APAC PEVC are based offshore, with those in North America making up the largest proportion (46%) of all institutional investors active in the region.

The breakdown highlights the local presence of PEVC managers investing in the region, as well as the consistently strong interest from overseas LPs.

Against this positive backdrop, APAC was the first region to confront the disruptions brought on by the outbreak of COVID-19, and lockdowns and social distancing have had a direct impact on fundraising and deals.

APAC-focused PEVC funds raised $30bn in the first half of the year, a 42% decline on the $52bn secured in H1 2019. Similarly, 247 private equity-backed buyout deals worth a combined $34bn were completed in H1 2020, registering a 17......................

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