BlackSoil, one of India’s leading alternative credit platforms, has showcased outstanding performance in the financial year 2024, with an over 40% rise in portfolio investment and a total disbursement exceeding $118Mn*. During this period, the Company exited 18 deals while simultaneously making strategic investments in 36 new deals, marking a 25% rise in the number of deals compared to the previous financial year. BlackSoil’s assets under management (AUM) grew nearly 50% year-on-year.
In Q4FY24, BlackSoil’s portfolio deployment amounted to over $49Mn, signalling a whopping 110% rise compared to the same quarter in the previous year (Q4FY23). The Company invested in 11 new deals and exited 4 deals in Q4FY24.
Maintaining its strategic diversification approach in its portfolio, BlackSoil continued to explore investment opportunities across various sectors in companies with sustainable business models and high-growth potential, generating consistent profitability. In FY24, the Financial Institutions/FinTech sector retained its position as the primary recipient of BlackSoil’s funding, accounting for 48% of the total investment, followed by SaaS/DeepTech/IOT at 21%, and Consumer at 13%.
Notable additions to BlackSoil’s portfolio during FY24 include MobiKwik, Tonbo, Genworks, BatterySmart, Pahal Financial Services, and BlueStone. The year also witnessed significant exits from notable companies such as Udaan, BluSmart, Freight Tiger, Bank Bazaar, and Home Capital.
Furthermore, several of BlackSoil’s existing portfolio companies achieved noteworthy milestones in FY24, with around 30 of its investees raising a consolidated capital of $680Mn in FY24 alone.
Ankur Bansal, Co-Founder & Director of BlackSoil, remarked, “FY24 has been an exceptional year of growth and strategic manoeuvring for BlackSoil, as evident from our numbers. Our commitment to prudent investment practices, exemplified by successful exits and strategic investments, reinforces our market position. As we anticipate the challenges and opportunities in FY25, BlackSoil remains dedicated to driving value and sustaining our upward trajectory.”
In FY24, BlackSoil’s investees Ideaforge, Yatra, and Cellecor Gadgets debuted on public exchanges in India, and Zoomcar was listed on Nasdaq in the USA. Additionally, more than 90% of BlackSoil’s current portfolio is EBITDA positive. These milestones highlight BlackSoil’s adeptness in fostering corporate successes.
