Alternative credit platform BlackSoil saw its investments increase by over 55% in FY23 compared to the previous year, amounting to around $90 million across almost 40 deals. It also achieved over 15 exits during the year.

“Our team’s ability to identify and invest in promising businesses and sectors, coupled with our focus on building long-term relationships with our clients, has helped the company maintain a robust growth trajectory even in a challenging economic environment,” said Ankur Bansal, Co-Founder and Director of BlackSoil.

The Mumbai-based platform saw a 1.5-fold increase in deal flow. The company achieved growth of over 45% in investments and over 65% in repayments in Q4FY23 compared to the corresponding period in the previous year. In Q4FY23, it made investments worth more than $25 million across eight deals.

Founded in 2010 by Ankur Bansal and Mohinder Pal Bansal, BlackSoil has deployed $280 million across 140 deals. It has an AUM (assets under management) of $120 million.

BlackSoil has invested in nine unicorns—Upstox, Udaan, Zetwerk, OYO Rooms, Spinny, Curefoods, Blu-Smart, and ideaForge. 

Despite the ongoing funding crisis, BlackSoil says its portfolio companies have managed to raise more than $500 million in FY23.

“Our commitment to supporting resilient entrepreneurs and investing in companies with potential for advancement has paid off, resulting in significant investments as well as successful exits,” says Ankur.

BlackSoil recently secured more than $25 million through its debt products from banks, family offices, corporate treasuries, and high-net-worth individuals.