BlackSoil, an alternative credit platform, deployed about USD 44 million (about Rs 350 crore) in Q2 FY24 across 11 new deals. It also recently raised around USD 40 million ( Rs 320 crore) debt for H1FY24, BlackSoil’s total portfolio investment stood at USD 80 million (Rs 640 crore) across 24 new deals. Its Assets Under Management (AUM) grew 50 per cent year-on-year.
With nearly USD 44 million investment in Q2 FY24, BlackSoil’s year-on-year investment in its portfolio grew 33 per cent.
BlackSoil remains committed to funding sustainable businesses with a solid potential to generate profitability. It is noteworthy that about 65 per cent of its current portfolio is EBITDA positive.
Diversification remains a cornerstone of BlackSoil’s investment strategy, with the company’s portfolio spanning across various sectors. In Q2 FY24, Financial Institutions accounted for 27 per cent of its total investments, followed by SaaS/DeepTech/IoT at 18 per cent, Healthcare at 14 per cent and consumer internet at 13 per cent. Notable additions to the portfolio in this period included Cellecor, Freight Tiger, Stashfin, Credright, Svasti MFI and Kenko, demonstrating BlackSoil’s commitment to identifying and nurturing niche businesses with immense growth prospects.
BlackSoil recently raised about USD 40 million debt from its investors. The funds were secured through various financial instruments, including Non-Convertible Debentures (NCDs), NCDs co-investments and term loans from banks. It added four lenders in Q2FY24, underlining the Company’s robust borrowing profile. The firm’s investor base includes High Net Worth Individuals (HNIs), Ultra-HNIs, Family Offices, and Corporates.
Ankur Bansal, Co-Founder & Director of BlackSoil, commented, “Q2FY24 was exceptional for BlackSoil. Investing nearly USD 44 million across 11 deals demonstrates our commitment towards identifying niche businesses with high potential, supporting their growth, and spearheading innovation in their respective sectors.” Regarding fundraising, he added, “Raising USD 40 million debt reflects a strong vote of confidence from our investors and partners. Our diversified approach to capital sourcing from renowned financial institutions has strengthened our borrowing profile, enabling us to offer innovative and tailored credit solutions to growing businesses.”
Notably, the first half of the financial year 2024, three of BlackSoil’s existing portfolio companies, namely Ideaforge, Yatra, and Cellecor Gadgets, made their debut on public exchanges, highlighting BlackSoil’s prowess in fostering corporate successes.
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