Adams Street’s fifth annual Global Investor Survey for 2025 revealed investor sentiment is improving as innovation accelerates, valuations stabilize, and dealmaking demand increases. Regulatory easing and AI advancements fuel optimism, while private markets remain well-positioned for growth, particularly in technology and healthcare, despite geopolitical and economic challenges.1
The report captures key insights from global investors, revealing expectations for increased dealmaking, liquidity, and capital deployment in the coming year.
Investor sentiment is optimistic, driven by AI innovation, improved liquidity, and favorable exit conditions, supporting private equity, venture capital, and private credit growth.1
Adams Street Partners released its fifth annual Global Investor Survey for 2025 which signals optimism for private markets.
FINDINGS FROM ADAMS STREET’S FIFTH ANNUAL GLOBAL SURVEY OF INSTITUTIONAL INVESTORS
AI is driving significant investment, particularly in venture capital and growth equity. In 2024, AI-native startups accounted for nearly half of global venture deal value, with total deal activity reaching $209 billion.2
Sixty-two percent of LPs say both North America and Europe offer the best investment opportunities, China’s appeal declines by five points to 11%, while interest in emerging Asia-Pacific rose to 38%, from 31%.1
of LPs favor
tech and healthcare
Technology and healthcare are the top sectors, identified by 47% of respondents. AI-driven innovation and digital transformation continue to fuel interest in these areas.1
of LPs plan to increase
co-investment allocations
Co-investments can often be a cost-efficient way for LPs to gain exposure to private markets, with 88% of survey respondents planning to allocate up to 20% of capital to this strategy.1
of LPs identify inflation as
a top investment challenge
The greatest concerns for LPs include inflation (86%), followed by interest rates (83%), international geopolitical risks (83%), and domestic political instability (74%).1
Private credit remains one of the top-performing asset classes in private markets, with assets under management (AUM) reaching $1.6 trillion in 2023, while managers hold $520.2 billion in dry powder.3
More than 80% of survey respondents expect geopolitical events to impact their investment decision-making. US-China trade tensions, potential policy shifts under US President Donald Trump, and global economic realignments are key considerations.1
1. Adams Street Partners, 2025 Global Investor Survey
2. PitchBook and National Venture Capital Association Venture Monitor Q4 2024, January 13, 2025, Pages 7-9
3. PitchBook, H1 2024 Global Private Debt Report, Page 4, September 24, 2024 edition.
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