Cloud storage startup Box, which backed away from its much-anticipated IPO in early May over eroding market conditions, may be back on track for a public offering in late July or August if it can land a reported $100 million capital infusion from private-equity firm TPG, according to new reports.

Re/code and The Wall Street Journal both reported that discussions between Box and TPG are in the early stages and may not result in a capital infusion. Box hasn’t concluded whether to take the money if it’s offered, although the additional funding would give it some wiggle room on timing its IPO should the market head south again.

In exchange for the funding, TPG reportedly not only would take an investment position in Box but also earn the right to buy more shares of Box if the company’s market valuation is less than $2 billion after the IPO, the reports said.

A Box spokeswoman told Re/code that the company’s “plan continues to be to go public when it makes the most sense for Box and the market. As always, investing in our customers, technology and future growth remains our top priority.”

Box has burned through a significant amount of cash trying to establish a beachhead in a number of geographies while spending heavily on sales and marketing. The Journal reported that Box spent $92 million more in cash than it took in for the year ended Jan. 31, ending the period with $109 million in cash—raising the remote possibility that it could run out of money before it elects to go ahead with its IPO.

To date, Box has raised some $400 million from private equity and venture firms and corporate investors. Most recently, the company secured about $100 million from investors in four international markets.

In early May, General Electric (GE) signed on with Box to use the cloud storage vendor’s technology across its entire network of some 300,000 employees.