BlackSoil, a venture debt fund, has raised ₹32 crore through non-convertible debentures (NCDs) to complete ₹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% of the funds were raised from existing investors and will be utilized primarily for lending activities of the company.
“In the present scenario of lower interest rates, our issue offers safe long-term investment options with stable returns to investors. Over the last two years, we have created a strong network of more than 150 high net-worth families and corporates who have shown tremendous support by investing in multiple series of BlackSoil’s NCD programme and remain monumental in the success of our platform,” said Ankur Bansal, director and co-founder of BlackSoil Group.
Since 2016, BlackSoil has raised a total of ₹265 crore via 14 NCD issues and 45% of the same has been repaid back without delinquency.
Blacksoil said that it has deployed ₹1,400 crore in the last four years across 90 plus transactions. Blacksoil’s portfolio includes Oyo, Spinny, LetsTansport, Vogo and TVF.