BlackSoil AMC closes its second loan fund at Rs 500 Cr and distributes Rs 750 Cr to 40 firms
Through its second credit fund, BlackSoil India Credit Fund II (BICF II), BlackSoil Asset Management, the asset management division of alternative lending platform BlackSoil, has distributed Rs 750 crore to 40 companies.
Since its launch in October 2023, the fund has reached 100% drawdown of investor commitments and closed at its goal corpus of Rs 500 crore. Ten exits have also been completed.
Repayments and exits were recycled into new investment opportunities over the fund’s tenure, allowing capital to be deployed many times, enabling the Rs 750 crore deployment, which is equal to 1.5 times the fund’s corpus.
A Category II Alternative Investment Fund established with SEBI, BICF II is dedicated to offering performing credit to high-growth companies in a variety of industries, including financial services, fintech, climate tech, electric cars, healthcare, consumer, SaaS, deep tech, and mobility.
Fintech and financial services make up 25% of the fund’s investments, with consumer and internet businesses—including B2C and D2C businesses—accounting for 35%. Together, mobility, IoT, SaaS, and deep tech make up 25%, with healthcare and health tech accounting for the remaining 15%.
Mintoak, Euler Motors, Curefoods, Bluestone, AgroStar, and Progcap are among the businesses funded by BICF II.
A wide range of investors, including high-net-worth individuals and family offices, have committed to the fund, with repeat investors accounting for the majority of these pledges.
BlackSoil was established in 2016 and offers alternative lending options for both short-term and long-term financial needs to underrepresented and rapidly expanding new-economy firms. There are fourteen publicly traded companies and eleven unicorns in its portfolio.
