BlackSoil raises Rs 32 crore through non-convertible debentures

BlackSoil, a venture debt platform focused on structured and real estate debt, 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% of the funds were raised from existing investors.

“In the present scenario of lower interest rates, our issue offers safe long-term investment options with stable returns to investors,” said Ankur Bansal, cofounder of Mumbai-based BlackSoil Group.


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% of the amount has been repaid. Its portfolio includes OYO, Spinny, Purplle, Zetwerks, Koye Pharma, LetsTransport, Vogo and TVF.

“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,” Bansal said.