There is an excellent writeup for similar architecture requirements and the blog is listed here - https://medium.com/azure-architects/azure-api-management-and-application-gateway-integration-a31fde80f3db
Hope this helps.
Please accept as answer and do a Thumbs-up to upvote this response if you are satisfied with the community help. Your upvote will be beneficial for the community users facing similar issues.
Thanks for replying to the question asked.
Actually the flow of our approved design POC is
D365 ( Power Pages ) -> Azure Application gateway -> APIM -> Function application.
Now while configuring we found that After we set Virtual network to "Internal" in the networking section of APIM we are not able to provision Inbound Private endpoint for the APIM.
We just wanted to know can Inbound Private endpoint provisioning is possible in this case for APIM.
In this scenario we want the traffic to stay in Microsoft Backbone only.
At the moment we don't want to enable Private endpoint for our existing Azure application gateway waf v2