Credit platform Blacksoil Capital has raised Rs 25 Cr from 60+ investors through private placement of Non-convertible Debentures (NCDs), which is issued for a tenor of three years.
Structured as an NBFC, BlackSoil focus primarily on venture debt as well as structured and real estate debt. BlackSoil’s focus has now shifted to sectors that it expects will rebound faster in the post-COVID-19 era such as healthcare, SaaS, logistics, edtech, agri among others.
Commenting on the funding, Ankur Bansal, Director and Co-founder of BlackSoil, said,
“This is a huge validation of the robustness of our business model and our governance standards. The subscription has been received from several high net-worth families and corporates. This highlights strong investor confidence in our NBFC and that our investor base appreciates the critical role we are currently performing by providing innovative debt solutions to growth companies, SMEs and startups.”
BlackSoil Capital is claimed to be one of the first venture debt platforms in India that has been raising NCDs for deployment in the venture debt market at the group level.
According to a statement released by the company, this is the company’s third NCD issue this calendar year, taking the total NCDs raised since January to Rs 75 crore from over 100+ investors. Since its inception four years ago, BlackSoil has raised Rs 235 crore across 13 NCD series from over 150 HNI families.
Launched in 2016 by M P Bansal and Ankur Bansal, BlackSoil is a new-age venture debt platform. Backed by family offices, Blacksoil investments have been sector agnostic as they have developed expertise in multiple domains such as financial services/fintech, ecommerce, SaaS, logistics/mobility, healthcare, consumer, travel, industrial services, and real estate, among others.
BlackSoil has disbursed over Rs 1,600 crore across 90+ deals in the last four years. Some of their key investments have been in category leaders including Oyo Rooms, EarlySalary, Chumbak, Lets Transport, Vogo, and Rentomojo.