In a strategic move to fortify its position in the alternative credit landscape, BlackSoil NBFC, the flagship entity of BlackSoil Group, has successfully raised $12 million in equity capital through a rights issue. The infusion, sourced from its existing Indian investors and family offices, signifies a resolute commitment towards enhancing the company’s credit profile and augmenting its lending capabilities to fuel further growth.
BlackSoil NBFC, bolstered by the backing of investors and family offices of prominent entities such as Allcargo Logistics, Navneet Education, Mahavir Agency, and Florintree Advisors led by Mathew Cyriac, marks this latest funding as its fourth capital injection in eight years. With this infusion, the total equity raised by BlackSoil NBFC now stands at approximately $30 million, amplifying its potential to cater to the burgeoning credit needs of growth companies, financial institutions, NBFCs, and MSMEs across diverse sectors.
The company’s robust performance is underscored by its significant disbursements, surpassing $600 million across 214 deals by December 2023. Notable entities within BlackSoil’s portfolio include industry leaders like OYO, Upstox, Udaan, and Bluestone, reflecting its strategic investments in high-potential ventures across various sectors.
BlackSoil’s impressive Asset Under Management (AUM) growth of around 30% year-on-year in 2023, coupled with the deployment of nearly $200 million across 63 deals, attests to its unwavering commitment to fostering financial inclusion and facilitating entrepreneurial ventures. Moreover, the company’s proactive approach is evident in its successful exits from over 20 deals in the previous year, indicative of its adeptness in navigating diverse market scenarios.
A noteworthy highlight of BlackSoil’s investment endeavours is the collective equity raise of $800 million by its portfolio companies in the past year, culminating in successfully listing three entities, namely Yatra, ideaForge, and Collector, on the stock exchange in 2023. This milestone underscores BlackSoil’s pivotal role in nurturing and catalyzing the growth trajectory of promising ventures, thereby contributing to the dynamism of the entrepreneurial ecosystem.
BlackSoil NBFC’s latest equity infusion epitomizes its steadfast commitment to fostering financial inclusivity, empowering growth-oriented enterprises, and driving innovation across diverse sectors. As it continues to expand its footprint and consolidate its position as a leading player in the alternative credit domain, BlackSoil remains poised to spearhead transformative change and unlock new avenues for sustainable economic development.
