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BlackSoil NBFC Secures $12 Million Equity Infusion to Boost Growth



BlackSoil NBFC, the leading arm of BlackSoil Group, has successfully raised ₹100 crore (US$12 million) in equity capital through a rights issue from its existing Indian investors and family offices. This capital injection will significantly improve BlackSoil NBFC's credit profile, enhance its borrowing capacity, and fuel further growth, as highlighted in a company press release.


BlackSoil enjoys the backing of prominent investors and family offices, including those associated with Allcargo Logistics, Navneet Education, Mahavir Agency, and Mathew Cyriac's Florintree Advisors. This latest funding round marks BlackSoil NBFC's fourth equity infusion within eight years, bringing the total equity raised to approximately ₹250 crore (US$30 million). Additionally, the company has secured debt financing exceeding ₹1,700 crore (US$200 million) from HNIs, banks, and other institutions.


BlackSoil caters to the alternative credit needs of various sectors, providing solutions to growth companies, financial institutions, NBFCs (Non-Banking Financial Companies), and MSMEs (Micro, Small and Medium Enterprises). By December 2023, BlackSoil Group, at the consolidated level, has surpassed a disbursement value of ₹5,000 crore (US$600 million) across 214 deals. Their impressive portfolio includes companies like IdeaForge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Dunzo, Purplle, Mobikwik, and Cure Foods.


BlackSoil reports a significant growth of around 30% year-on-year in their Assets Under Management (AUM) for 2023. They deployed ₹1650 crore (nearly US$200 million) across 63 deals and successfully exited over 20 investments in the last year.


The company additionally shared that its portfolio companies collectively raised a staggering US$800 million in equity financing over the past year. Notably, three of their portfolio companies – Yatra, IdeaForge, and Cellecor – achieved successful listings on the stock exchange in 2023.

 


 

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