Billy Butcher holds a vial of Compound V
Compound V is a chemical substance manufactured and used by Vought International to enhance Supes with extraordinary abilities. It is also widely used by Supes to enhance their performance, such as A-Train abusing the substance to aid his speed. Otherwise, Supes such as Popclaw have used the substance for recreational use. It is later revealed that Compound V is used to create all Supes. Most are injected with the drug when they're children. The process can also be performed on adults, but it is much more risky, and the casualty rate is much higher.
In the Comics
Compound V is a substance created by Joseph Vogelbaum , a Jewish scientist, and was originally intended to create super soldiers for the Third Reich. Fearing for his life, Vogelbaum escaped to the US with the help of Vought. With their funding, he created more Compound V, which was used to create Supes. The Seven were created by injecting fetuses with the drug. While this made them exceptionally powerful, the process was incredibly costly, so future Supes were injected with a less pure concentration. While most Supes are injected when they're children, some are indeed born with their abilities, as a result of their parents being exposed to Compound V. Compound V is extremely expensive, and a single injection, such as the one the members of the Boys receive, costs $19 billion. While a pure dose will enhance an individual permanently, it is also possible to take Compound V recreationally by mixing it with other drugs (such as crack cocaine). This can enhance an individual temporarily, but the effects can be unpredictable, depending on the drug and its purity.
In the TV Series
Compound V is a substance chemical that was created by Frederick Vought. Billy Butcher had found a vial from Vought International when Hughie had a secret plan to take one Supe at a time to defeat Homelander in Season 2.
Ryan Butcher was born with his superpowers because his father is a Supe.
Also, on the example of Stormfront, it was revealed that the Compound V greatly slows down or completely stops the aging process (Stormfront was born in 1919, but she still have an appearance of a 20's to early 30's woman ).