PE and VC fundraising remained subdued in 2025, with global venture capital funds raising USD64.4bn in the first nine months, less than half of 2024’s total, according to Preqin. Asia-Pacific was the weakest region, with USD9.5bn raised compared with USD34.2bn in 2024, as investors stayed cautious on new commitments. Private equity funds raised USD507bn, around 73% of last year’s level, and Preqin expects a modest full-year decline. Exit activity showed signs of recovery, wit