Dry Powder

"Dry powder refers to the reserves of liquid assets that a company or an individual holds, primarily to cover future obligations, undertake new ventures, or navigate through financially turbulent times. This term is often used metaphorically to describe cash reserves, but can also encompass other highly liquid assets. Dry powder provides a safety net and a tool for strategic financial planning.

In the investment landscape, it represents the readiness and ability of an investor or a firm to make swift investments when the right opportunity presents itself. Having substantial dry powder implies a preparedness to capitalize on market downturns, acquire undervalued assets, or maintain a stable financial position during economic uncertainties".

Source: https://www.nasdaq.com/articles/dry-powder-definition-reasons-sources-and-strategies