Venture debt and alternative credit platform, BlackSoil Capital Thursday said it completed 31 deals in FY22, twice as much compared to last fiscal and deployed $93 million during this fiscal. The company made 24 exits with a cumulative value of $64 million.
Over its existing positions focused across sectors like fintech and e-commerce, the firm has also taken exposure across sectors like electric vehicles with investment in BluSmart, and agritech businesses like Jai Kisan and BigHaat. It has also invested in Curefoods, the statement said.
“We will continue to strive to be the lender of the first choice for new age growth companies. The aim is to become part of and provide long-term support to the journeys of promising founders and startups that can have a tangible impact on consumers, businesses, and SMEs,” said Ankur Bansal, co-founder and director of BlackSoil.
Overall, BlackSoil’s alternative credit platform has deployed over $215 million across more than 100 deals to date.
In January, the homegrown venture debt firm announced an investment of $80 million in 20 transactions during 2021, registering a 2.5 times growth in terms of value and 1.8 times growth in terms of volume of investments over 2020.
Some of its major investments in startups include business-to-business (B2B) e-commerce startup Udaan, the marketplace for construction materials Infra.Market, and beauty marketplace Purplle. Earlier this year, the Mumbai-based debt investor had backed SME-focused fintech firm LivFin with an investment of $2 million (Rs 14.8 crore).
In March, BlackSoil Capital invested growth capital of over $4.5 million (around Rs 34.2 crore) in three startups, BluSmart Mobility, BigHaat and LoanTap.