BlackSoil, a Mumbai-based alternative credit platform, has raised ₹250 crore through its financial products from family offices, ultra-high-net-worth individuals/high net-worth individuals and marquee institutions.  

The fund said it has deployed over $300 million across 130 transactions over the last six years. Deployment stood over $90 million, comprising a portfolio of 30 companies across a broad array of emerging growth sectors, during the financial year 2021-22. 

Ankur Bansal, Director and Co-Founder, BlackSoil, said, “The onward lending we will be doing with these funds are via products with amortising and fixed pay-out structures which significantly reduce business and time risk, and safeguard the investment. This has enabled us to raise this capital even amidst market volatility.” The funds raised will be lent to mid- and growth-stage start-ups through a variety of debt products, he added.

Funding nine unicorns

Some of BlackSoil’s investments over the years include nine unicorns – Upstox, Slice, MobiKwik, Udaan, Infra.Market, Zetwerk, OYO Rooms, Spinny and Purplle. There are over 20 Family Offices/HNIs who have invested in Blacksoil’s various debt products.

“Despite near-term challenges and rising interest rates, we stand confident in our strategy. Our products are providing safety of investment along with stabilised returns supported by our proprietary underwriting and our long-standing track record of resilient credit performance,” Bansal said.

According to BlackSoil, the current financial slowdown witnessed in the public equity markets, as well as the private venture capital markets, has brought about a funding winter that has impacted several growth and new-age economy companies at large. However, investment foresight still provides ample opportunity to cherry-pick the appropriate companies requiring funding and are accordingly on the radar to receive ‘alternate credit,’ it said.

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