Venture capitalists (VCs) are currently flush with funds despite economic challenges, with experts noting there’s enough dry power in the startup ecosystem. This abundance of capital is particularly significant for startups in Southeast Asia and India. However, India's new M&A rule, which applies to deals exceeding approximately $240 million, could pose challenges for startups looking to be acquired early to access funding and scale. In addition, 24 Indian startups raised around $228.79 million in funding from September 9 to 14, with six growth-stage deals and 13 early-stage deals among them. The tightening fundraising environment has also led to opportunities for VCs to cram down existing investors with lowball pay-to-play offers, including 2x pref and full ratchet anti-dilution terms.