BlackSoil NBFC, the primary arm of BlackSoil Group and an alternative credit platform, has successfully raised equity of Rs 100 crore ($12 million) through a rights issue. The funds were contributed by existing Indian investors and family offices, enhancing BlackSoil NBFC’s credit profile and fortifying its capabilities for borrowing and expansion, according to a press release.
Investors and family offices associated with Allcargo Logistics, Navneet Education, Mahavir Agency, and Florintree Advisors led by Mathew Cyriac support BlackSoil. This recent capital infusion, the fourth in eight years, brings the total equity raised by BlackSoil NBFC to approximately Rs 250 crore ($30 million). Furthermore, the company has secured debt financing exceeding Rs 1,700 crore (over $200 million) from High Net Worth Individuals (HNIs), banks, and others.
BlackSoil NBFC specializes in providing alternative credit solutions to growth companies, financial institutions, Non-Banking Financial Companies (NBFCs), and Micro, Small, and Medium Enterprises (MSMEs) across various sectors.
On a group level, BlackSoil has achieved disbursements exceeding Rs 5,000 crore (over $600 million) across 214 deals by December 2023. Its diverse portfolio includes notable names such as ideaForge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Dunzo, Purplle, Mobikwik, and Cure Foods.
BlackSoil reported a 30% year-on-year growth in Assets Under Management (AUM) in 2023, deploying Rs 1650 crore (nearly $200 million) across 63 deals and exiting from over 20 deals during the same period.
The firm highlighted that its portfolio companies collectively raised $800 million in equity in the last year. Notably, three of these companies, namely Yatra, ideaForge, and Cellecor, went public on the stock exchange in 2023.
