Venture debt fund BlackSoil raises Rs 250 crore in fresh capital

Venture debt platform BlackSoil said on Tuesday it has raised Rs 250 crore in funding through its financial products from family offices, notable ultra-high-net-worth individuals/high net-worth individuals, and marquee institutions.

Some of BlackSoil’s investments over the years include nine unicorns – Upstox, Slice, MobiKwik, Udaan, Infra Market, Zetwerk, Oyo Rooms, Spinny & Purplle.

“Despite near-term challenges and rising interest rates, we are confident in our strategy…,” said Ankur Bansal, director, and cofounder, BlackSoil.

Bansal said his fund’s lending would be through products with amortising and fixed pay-out structures that reduce business and time risk and safeguard investments.

“This has enabled us to raise this capital even amid market volatility. The funds raised will be lent to mid- and growth-stage startups through various debt products,” Bansal said.

According to BlackSoil, the onset of the funding winter has opened up opportunities for alternative credit as they provide the necessary runway through working capital solutions, acquisition financing, and other short-term funding requirements without impacting the overall cap-table and underlying valuations of startups.

Discover the stories of your interest



Over the last six years, BlackSoil has deployed more than $300 million in startups, with deployment in FY22 standing at a record high of over $90 million.

“Strategic partnerships, acquisitions, and talent addition have made our initiatives and vision the most sought-after partner to founders, enterprises, and investors,” Bansal said.

Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox.

For all the latest Technology News Click Here 

Read original article here

Denial of responsibility! TechAI is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.