The Asia-Pacific (APAC) deal landscape has demonstrated a complex picture in the first three quarters (Q1-Q3) of 2025, with the total number of deals (mergers & acquisitions (M&A), private equity and venture financing) announced in the region experiencing a decline of around 1% year-on-year (YoY). While this downturn reflects a cautious sentiment, certain markets within the region have shown remarkable resilience, according to GlobalData, a leading data and analytics company.

An analysis of GlobalData’s Deals Database revealed that the trend remained a mixed bag across the different deal types under the coverage as well as the different key markets within the region.

M&A activity has seen an YoY increase of about 2% during Q1-Q3 2025. This growth indicates that despite the broader economic challenges, companies are still pursuing strategic acquisitions to enhance their competitive positioning.

In contrast, venture financing has faced a decline of around 4% YoY during the review period, suggesting that investors are becoming more selective in their funding decisions, possibly due to heightened market volatility. Private equity deals have decreased significantly, with a drop of around 15% YoY during Q1-Q3 2025, reflecting a shift in investor strategies.

China continues to lead in deal volume and experienced an increase of around 1% YoY in deal activity during Q1-Q3 2025. This growth underscores the resilience of the Chinese market, which remains a focal point for both domestic and international investors.

India has also shown strong performance, with deal volume rising by about 6%, indicating growing confidence in its economic prospects. Japan has experienced a notable increase of around 10% in deal volume, further highlighting its attractiveness.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “While the overall deal volume in the APAC region has declined, the growth in activity, particularly in key markets like China and India, suggests that there are still opportunities for strategic investments. However, not all countries within the region have fared well and slowdown in these markets did offset the gains in China, India and Japan.”

For instance, Australia, South Korea, Singapore, Malaysia, New Zealand, Indonesia and Thailand have seen declines of about 7%, 23%, 15%, 15%, 10%, 11% and 19% in their respective deal volumes during Q1-Q3 2025. 

Bose concludes: “These declines suggest that these markets are grappling with their own unique challenges. Meanwhile, the divergence in trend across different countries highlights the varying dynamics within the APAC region, where some markets are thriving while others are struggling to maintain momentum.”

Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain.