Syed Sajid Hussain Thanks for posting your question in Microsoft Q&A. The VNET support (fully private integration or referred to as VNET injection) is supported in Developer and Premium tiers as described in doc: https://learn.microsoft.com/en-us/azure/api-management/api-management-features.
However, we have introduced new v2 service tiers such as Basic V2, Standard V2 as preview. Standard V2 can be integrated with a VNET but not same as the one in the premium tier and described as below: (https://learn.microsoft.com/en-us/azure/api-management/v2-service-tiers-overview#q-what-is-the-difference-between-vnet-integration-in-standard-v2-tier-and-vnet-support-in-the-premium-tier)
If you are looking for dev SKU for new v2 tiers, currently it is not available. Can you please elaborate on the use case for Dev SKU V2 (instead of developer tier)? Also, I suggest you submit feedback via https://aka.ms/apimwish and others with similar interests can upvote your idea. This will help our product team prioritize the features.