Alternative credit platform BlackSoil in Q3 FY24 deployed over $30 million (₹250 crore), marking a 35 per cent growth in year-on-year portfolio investment. It exited six deals during this period and strategically invested in six new deals, said the company.
Further, in the nine months ending in December 2023, the platform has achieved a total portfolio deployment of over $110 million (₹885 crore+) across 30 new deals, indicating a 35 per cent YoY increase in investment.
In Q3 FY24, the company continued to invest in sustainable business models with high growth potential, such as the financial institutions/fintech sector, with 42 per cent of the total funding, followed by healthcare/healthtech and B2B at 13 per cent each, and logistics and mobility at 12 per cent.
Noteworthy new deals during this period include Everest Fleet, Humana, Keertana, and Cocoblu. Meanwhile, its exits include Bankbazaar, Slice, Blu-Smart, Udaan, and Infra.Market.
Moreover, six of its existing portfolio companies achieved significant milestones. While Freight Tiger, Home Capital, Udaan, RevFin, Blu-Smart, Tootshi, and Moneyboxx raised a consolidated capital of more than $216 million, Zoomcar got listed on Nasdaq.
“Our investment approach of maintaining a diversified portfolio has played a pivotal role in our outstanding performance this quarter. As we navigate the challenges and opportunities ahead, we will continue to drive value and maintain its upward momentum in Q4,” said Ankur Bansal, Co-Founder and Director of BlackSoil.