Asia venture capital is no longer being underwritten on the old promise of demographics, digital adoption and rising consumer markets alone. For LPs, the question now is sharper: where in Asia can venture still produce institutional-scale returns, real DPI and globally relevant companies? This session will examine how LPs are reassessing Asian venture capital after a cycle marked by valuation resets, slower exits, weaker fundraising and a much more concentrated global appetite for AI-led growth. It will look at where conviction is returning, from China deep tech and India’s maturing startup market to Southeast Asia’s more selective founder economy, and where LPs remain cautious. The discussion will also ask what Asian VC managers now need to prove – sharper portfolio construction, clearer exit pathways, stronger governance, cross-border scale, differentiated access, and the ability to return capital rather than simply mark up companies. Above all, the panel will explore whether Asia VC can still earn a meaningful place in global LP portfolios, and what kind of managers, markets and strategies will make that case.
