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BlackSoil, an India-based leading alternative credit provider has said, “It has invested over $30 million (Approx Rs 250 crore) in 17 deals in Q1FY24.”
The company’s deal closures in Q1FY24 doubled compared to the same quarter last year and made a successful exit from 5 deals. While its assets under management (AUM) also increased by 50% year on year.
In Q1FY24, the company primarily focused on sectors such as Consumer Internet, DeepTech, Healthcare, EV, and FinTech and has made investments in Battery Smart, Toothsi, Bounce Salons, Kaleidofin, Mozark, WeGot, and Seeds Fincap.
Speaking about the development, Ankur Bansal, Co-Founder and Director of BlackSoil said, “As a strategy, we focus on providing alternative financing solutions to enterprises that proactively tweak their business models to enhance sustainability and continue to receive unwavering support from their existing and new equity investors. At BlackSoil, we aim to identify such sector-pioneering companies and help them realize their full potential.”
“Healthcare, Consumer Internet and Financial Institutions emerged as the top sectors for BlackSoil with each securing 23% respectively of the total funding,” the company said.
BlackSoil also backed its existing portfolio companies with a collective funding of over $60 million (₹500 Cr) in equity in Q1FY24.