BlackSoil has raised Rs 180 Crore through non-convertible debentures (NCDs), bank debt & other instruments for its NBFC.
The NCDs are 3-year tenure products, raised from UHNIs, HNIs & Family Offices, of which the majority are repeat investors. Along with the NCDs, funds have been raised from banks and other institutions.
The capital raised through the latest fundraising will be deployed predominantly for lending activities, across a variety of debt products, to fund mid and growth-stage enterprises in the startup ecosystem.
The NBFC has established a proprietary network of 200+ high net-worth families and corporates, who have shown support by subscribing to multiple NCD issuances by the company over the past few years.
The NBFC’s unique NCD program has enabled it to raise ₹420+ Crs across multiple series. The company has managed to reduce its cost of capital supported by an improving credit profile, which has enabled them to quickly raise funds at competitive rates.
Speaking on the funding, Ankur Bansal, Director & Co-founder of BlackSoil Capital said, “Despite the global events of the last couple of years, BlackSoil has continued to witness tremendous growth. We strive to continue this growth path and become the lender of the first choice for high-growth, innovative startups. We already have an exciting pipeline of investments across diverse sectors lined up for FY23.”
“This fundraising will not only help us reach our investment goals but is a testament to our track record. Our investor network has continued to show immense faith in us since 65% comprise repeat investors who have been subscribing & investing over the years and remain bullish on our progress,” Bansal added.