BlackSoil has raised Rs 70 Crore through non-convertible debentures (NCDs) for its NBFC. These NCDs are longer tenure products raised from UHNIs, HNIs & Family Offices, of which 65% were repeat investors.
According to the official communique, the capital raised during the latest fundraise will be utilised primarily for lending activities, across a variety of debt products, to fund mid and growth-stage enterprises in the startup ecosystem. The NBFC aims to fund around 25 startups from sectors such as Deep Tech, B2B Tech, Enterprise SaaS, FinTech, HealthTech, EdTech, Clean Energy, & D2C/B2C E-Commerce.
“At BlackSoil, we have closed 4x the number of deals in the first half of 2021, as compared to the same period last year. We are seeing exponential deal flow in H2-2021 as well. Our latest round of NCD fundraise shall further facilitate us in meeting the growth requirements that startups are facing and wish to combat that through means of venture debt, which in turn would augment our portfolio.” said Ankur Bansal, Director and Co-founder of BlackSoil Capital.