BlackSoil NBFC Raises INR180 Crore

Funds will be utilized to fund mid and growth-stage enterprises in the startup ecosystem and for lending activities across a variety of debt products.

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BlackSoil announced on Tuesday to have raised INR180 crore through non-convertible debentures, bank debt & other instruments for its NBFC. The non-convertible debentures are three-year tenure products, raised from UHNIs, HNIs and family offices of which the majority are repeat investors. Along with the non-convertible debentures, funds have been raised from banks and other institutions. Funds will be utilized to fund mid and growth-stage enterprises in the startup ecosystem and for lending activities across a variety of debt products.

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The NBFC has established a proprietary network of 200-plus high net-worth families and corporates, who have shown support by subscribing to multiple non-convertible debentures issuances by the company over the past few years. The NBFC's unique non-convertible debenture program has enabled it to raise over INR420 crore across multiple series. The company has managed to reduce its cost of capital supported by an improving credit profile, which has enabled them to quickly raise funds at competitive rates.

"Despite the global events of the last couple of years, BlackSoil has continued to witness tremendous growth. We strive to continue this growth path and become the lender of first choice for high growth, innovative startups. We already have an exciting pipeline of investments across diverse sectors lined up for FY23. Our investor network has continued to show immense faith in us since approximately 65 per cent comprise repeat investors who have been subscribing & investing over the years and remain bullish on our progress" said Ankur Bansal, director and co-founder, BlackSoil Capital.

BlackSoil manages a credit platform consisting of an RBI-registered NBFC and a SEBI-registered AIF through which it has built a quality loan book by deploying approximately INR1900 crore across 125 deals. Some of BlackSoil's noteworthy investments include six unicorns – OYO Rooms, Slice, Udaan, Zetwerk, Spinny, Infra.Market & soonicorns such as Curefoods and Zest amongst others.