Live dataset · Updated July 2026

What check size do private credit funds write?

Across 922 active private credit funds with disclosed ranges, the median check-size band runs from $10M to $100M — the center of private credit supply is the middle market, not nine-figure deals.

Median band by fund type

Fund type	Funds	Median range
DIRECT LENDER	470	$10M – $100M
SPECIALIST	228	$30M – $250M
OTHER	144	$10M – $100M
GENERALIST	56	$20M – $200M

Stated ranges; funds with modeled estimates included and flagged in the underlying dataset. Fund types with fewer than 25 ranged funds omitted.

Common questions

What is the typical private credit check size?

Across 922 active funds with disclosed ranges in the TerraNova database, the median band runs from $10M to $100M. The market's center of gravity is the middle market.

Do private credit funds write small checks under $10M?

Yes — hundreds of specialist funds write $1M–$10M checks, particularly in equipment finance, ABL, and lower-middle-market direct lending. They are specialists, not the famous platforms: the shortlist for a small deal rarely resembles the conference-circuit list.

How do I find funds whose range fits my raise?

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