Late-stage cheques go big at $86 million average this year

Average late-stage funding cheques in India surged to about $86 million in the first half of 2026, up from roughly $37-38 million in the prior two halves, even as the number of rounds declined sharply to 44 from 94. Total late-stage funding rose to $3.8 billion from $3 billion, with capital concentrating on companies with revenue visibility, hard assets and clearer exits such as AI infrastructure, data centres, energy transition and lending. Deal-makers note that IPO-ready firms are now ripe for private equity or strategic acquisitions when public market windows turn uncertain, and diligence has become significantly more rigorous.