- AUM grew 50% YoY
- Completed 2x the number of deals YoY
- Portfolio companies raised $60+ Mn in equity
- Notable portfolio companies added are Battery Smart, Toothsi, Bounce Salons and Kaleidofin
BlackSoil, one of India’s leading alternative credit funds, invested $30+ Mn (₹250+ Cr.) across 17 deals in Q1FY24 amidst the funding winter, recording robust growth. The Company’s asset under management (AUM) grew ~50% year on year. BlackSoil doubled (2x) its deal closure in Q1FY24 compared to the same quarter previous financial year (Q1FY23). It successfully exited 5 deals in Q1FY24.
BlackSoil has been highly optimistic about investing in new-age high-growth businesses. In Q1FY24, it primarily focused on a diverse and granular set of sectors, including Consumer Internet, DeepTech, Healthcare, EV and FinTech. A few notable deals include Battery Smart, Toothsi, Bounce Salons, Kaleidofin, Mozark, WeGot and Seeds Fincap.
“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 realise their full potential,” said Ankur Bansal, Co-Founder & Director of BlackSoil.
Healthcare, Consumer Internet and Financial Institutions emerged as the top sectors for BlackSoil, with each sector securing ~23% respectively of the total funding.
In addition to funding new companies, BlackSoil continued to support its existing investees in Q1FY24. The strength of BlackSoil’s backing is reflected in its portfolio companies as they collectively raised $60+ Mn (~₹500 Cr.) in equity in Q1FY24, despite the challenges of the ongoing funding winter in the startup ecosystem.
In the coming quarters, the Company will remain focused on discovering potential investment prospects while ensuring its existing portfolio companies’ growth and safeguarding its investor’s capital.
