BlackSoil, an alternative credit platform, announced on Monday its investment of $49 million (Rs 391 crore) across 11 new deals in the fourth quarter (Q4) of FY24. Additionally, the company successfully exited four portfolio companies during this period. With a year-on-year disbursement increase of 110% and nearly 50% growth in Assets Under Management (AUM), BlackSoil demonstrated strong performance in Q4.
Ankur Bansal, Co-Founder & Director of BlackSoil, expressed confidence in the company’s investment practices and strategic approach. “Our prudent investment practices fortify our market standing, underscored by successful exits and strategic investments,” he stated. Bansal highlighted the company’s commitment to driving value and maintaining an upward trajectory in FY25.
The exceptional performance in Q4 reflects BlackSoil’s ability to identify and support niche businesses with significant potential, positioning the company as a catalyst for innovation across diverse sectors. The investment strategy remains focused on diversification, with the portfolio spanning various sectors.
In the January-March quarter of FY24, Fintech accounted for 37% of BlackSoil’s total investments, followed by SaaS, Deeptech, and IoT at 18%. Notable investments in Fintech companies such as Rupeek, Werize, and OTO were made during this period. Additionally, BlackSoil successfully exited from prominent companies like Freight Tiger, Homeville Group, and Koye Pharmaceuticals, where it had made debt investments.
Furthermore, several existing portfolio companies of BlackSoil achieved noteworthy milestones in Q4 FY24, with nine investees raising a total capital of over $100 million. Notably, about 90% of BlackSoil’s current portfolio companies are EBITDA positive, indicating the strength and stability of its investment portfolio.
In conclusion, BlackSoil’s robust performance in Q4 FY24 underscores its commitment to strategic investment practices and driving value for its stakeholders. With significant investments in diverse sectors and successful exits, BlackSoil continues to solidify its position as a leading alternative credit platform in the market.
