BlackSoil Capital Pvt Ltd raises Rs 32 crore through non-convertible debentures

A venture debt platform focused on structured and real estate debt, Blacksoil (Non-Banking Financial Company) has raised Rs 32 crore through non-convertible debentures to complete securing Rs 100 crore of investments in 2020. The three-year NCDs were issued to more than 60 investors on a private placement basis. The company said 70 percent of the funds were raised from existing investors. The funds will be deployed in mid- and growth-stage entities across sectors in the startup ecosystem. Since 2016, BlackSoil has raised Rs 265 crore via 14 NCD issues and 45 percent of the amount has been repaid. BlackSoil has permanent capital in the form of equity raised from family offices. It is sponsored by family offices, including Chairman of AllCargo Logistics Shashi Kiran Shetty, and Managing Director of Navneet Education Ganesh D Gala. In another development, in December 2020, BlackSoil has made a Rs 4 crore venture debt funding into Awign Enterprises Private Limited. The NBFC has deployed Rs 1,400 crore in the last four years across 90 plus transactions. Some of BlackSoil’s portfolio companies include hospitality unicorn OYO Rooms, rental startup Rentomojo, design-led lifestyle brand Chumbak, bike-rental startup Vogo, rental used car retailing platform Spinny, logistics startup LetsTransport, edtech startup iNurture, Purplle, Zetwerks, Koye Pharma and TVF among others.