Alternative Credit Platform BlackSoil records 55% surge in investments in FY23, achieves over 15 exits
- ByStartupStory | April 25, 2023
Mumbai-based alternative credit platform, BlackSoil, witnessed a significant increase in investments of over 55% in the fiscal year 2022-23, amounting to around $90 million across almost 40 deals. Additionally, the company achieved over 15 exits during the year. The company attributed its success to its team’s ability to identify and invest in promising businesses and sectors, coupled with its focus on building long-term relationships with its clients. In the final quarter of FY23, BlackSoil made investments worth more than $25 million across eight deals, achieving growth of over 45% in investments and over 65% in repayments compared to the corresponding period in the previous year.
BlackSoil, which has an AUM of $120 million, was founded in 2010 by Ankur Bansal and Mohinder Pal Bansal and has deployed $280 million across 140 deals. The platform has invested in nine unicorns, including Upstox, Udaan, Zetwerk, OYO Rooms, Spinny, Curefoods, Blu-Smart, and ideaForge. Despite the ongoing funding crisis, BlackSoil’s portfolio companies have managed to raise more than $500 million in FY23.
“Our commitment to supporting resilient entrepreneurs and investing in companies with potential for advancement has paid off, resulting in significant investments as well as successful exits,” said Ankur Bansal, Co-Founder and Director of BlackSoil. BlackSoil also secured more than $25 million through its debt products from banks, family offices, corporate treasuries, and high-net-worth individuals. The platform aims to continue supporting entrepreneurs and investing in companies with potential for growth and advancement.
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