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BlackSoil NBFC raises about 180 crore via NCDs, banks debt

The NCDs are of three-year tenure, raised from ultra-high networth individuals (UHNIs), high-networth individuals (HNIs) and family offices, majority of whom are returning investors.. Photo: Hemant Mishra/MintPremium
The NCDs are of three-year tenure, raised from ultra-high networth individuals (UHNIs), high-networth individuals (HNIs) and family offices, majority of whom are returning investors.. Photo: Hemant Mishra/Mint

  • The capital raised through the latest fundraise will be deployed predominantly for lending activities, across a variety of debt products, to fund mid and growth-stage enterprises in the startup ecosystem, BlackSoil said

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Credit platform BlackSoil on Tuesday said it has raised about 180 crore through non-convertible debentures (NCDs), bank debt and other instruments for its non-banking financial company (NBFC).

The NCDs are of three-year tenure, raised from ultra-high networth individuals (UHNIs), high-networth individuals (HNIs) and family offices, majority of whom are returning investors. Apart from NCDs, the company has also raised funds from banks and institutions.

The capital raised through the latest fundraise will be deployed predominantly for lending activities, across a variety of debt products, to fund mid and growth-stage enterprises in the startup ecosystem, the company said in its statement.

“This fundraise will not only help us reach our investment goals but is a testament to our track record. Our investor network has continued to show immense faith in us since ~65% comprise repeat investors who have been subscribing & investing over the years and remain bullish on our progress," said Ankur Bansal, director and co-founder, BlackSoil Capital.

The NBFC’s NCD program, subscribed by over 200 HNI families and corporates, has enabled it to raise over 420 crore across multiple series. The company said it has managed to reduce its cost of capital supported by an improving credit profile, which has enabled them to quickly raise funds at competitive rates.

“Despite the global events of the last couple of years, BlackSoil has continued to witness tremendous growth. We strive to continue this growth path and become the lender of first choice for high growth, innovative startups. We already have an exciting pipeline of investments across diverse sectors lined up for FY23," said Bansal.

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