Hello Sriram M,
Welcome to the Microsoft Q&A forum.
As of today, there is no way to implement private networking with Azure Synapse Link for Dataverse. However you an use the feature "Access firewalled storage accounts using a trusted app".
This feature allows you to create a trusted app that can access your firewalled storage account. You can then use this trusted app to access the storage account from your Synapse workspace.
Reference document:
I hope this answers your question.