Venture debt fund BlackSoil raises Rs 250 crore in fresh capital

Enterprise debt platform BlackSoil stated on Tuesday it has raised Rs 250 crore in funding by means of its monetary merchandise from household places of work, notable ultra-high-net-worth people/excessive net-worth people, and marquee establishments.

A few of BlackSoil’s investments over time embrace 9 unicorns – Upstox, Slice, MobiKwik, Udaan, Infra Market, Zetwerk, Oyo Rooms, Spinny & Purplle.

“Regardless of near-term challenges and rising rates of interest, we’re assured in our technique…,” stated Ankur Bansal, director, and cofounder, BlackSoil.

Bansal stated his fund’s lending could be by means of merchandise with amortising and glued pay-out constructions that scale back enterprise and time threat and safeguard investments.

“This has enabled us to lift this capital even amid market volatility. The funds raised will likely be lent to mid- and growth-stage startups by means of varied debt merchandise,” Bansal stated.

In accordance with BlackSoil, the onset of the funding winter has opened up alternatives for different credit score as they supply the required runway by means of working capital options, acquisition financing, and different short-term funding necessities with out impacting the general cap-table and underlying valuations of startups.

During the last six years, BlackSoil has deployed greater than $300 million in startups, with deployment in FY22 standing at a report excessive of over $90 million.

“Strategic partnerships, acquisitions, and expertise addition have made our initiatives and imaginative and prescient probably the most sought-after accomplice to founders, enterprises, and traders,” Bansal stated.

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