Alternative Credit Platform BlackSoil Invests USD 49 Mn in 30 Deals in Q4 The Mumbai-based firm's portfolio includes enterprises like Ideaforge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purplle, and Curefoods.
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Alternative credit platform BlackSoil announced that it has deployed USD 49 million (INR 391 crore) across 30 deals out of which 11 are new ones. It has also exited four portfolio companies in Q4 FY24.
The company said that its year-on-year disbursement grew by 110%, and its assets under management (AUM) increased by nearly 50% year-on-year.
Ankur Bansal, Co-Founder and Director of BlackSoil, said, "In Q4 FY24, BlackSoil's strategic investments totaling USD 49 million across 11 ventures reflect our unwavering dedication to fostering growth and innovation. Our prudent investment practices fortify our market standing, underscored by successful exits and strategic investments. As we navigate the landscape of FY25, we remain steadfast in our commitment to driving value and maintaining our upward trajectory."
BlackSoil's investment approach places a strong emphasis on sector diversification; in Q4, fintech accounted for 37% of all investments, followed by SaaS/Deeptech/IoT at 18%. Prominent fintech companies like Werize, OTO, and Rupeek received investments from BlackSoil.
It also exited companies such as Freight Tiger, Homeville Group, and Koye Pharmaceuticals, where it made debt investments.
In addition, the company mentioned that several of its existing portfolio companies achieved noteworthy milestones, with nine investees raising a total capital of over USD 100 million in Q4 FY24. About 90 percent of its current portfolio companies are EBITDA positive.
Established in 2016, BlackSoil offers credit to growth companies, FIs, and NBFCs. The Mumbai-based platform claims that it has built a quality loan book consisting of top-notch investments and deployed around USD 390 million across 176 deals.
Ideaforge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purplle, and Curefoods are some of its portfolio companies.
