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Alternative credit platform BlackSoil has achieved 35% growth in Q3 FY24 by investing over $30 million in six new deals and exiting six deals.

The platform’s portfolio deployed more than $110 million in the nine months to December 2023, an increase of 35% compared to the same period last year, with approximately 30 new deals.

“In the dynamic landscape of Q3FY24, we have surpassed expectations and achieved a new standard with a remarkable deployment of over $30 million. The successful exit and the strategic new investments underscore our commitment to prudent investment practices, consolidating our position in the market,” said Ankur Bansal, Co-founder and Director of BlackSoil. 

BlackSoil invested in sustainable business models in Q3FY24, with the financial institutions/fintech sector leading the way with 42% of total funding, followed by healthcare/healthtech, B2B and logistics, and mobility with 13% and 12%, respectively.

“Our investment approach of maintaining a diversified portfolio has played a pivotal role in our outstanding performance in this quarter. As we navigate the challenges and opportunities ahead, BlackSoil will continue to drive value and maintain its upward momentum in Q4,” he added.

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Six of BlackSoil’s portfolio companies, including Freight Tiger, Home Capital, Udaan, RevFin, BluSmart, Tootshi, and Moneyboxx, raised over $216 million in Q3FY24, and Zoomcar was listed on the Nasdaq.

New deals include Everest Fleet, Humana, Keertana, and Cocoblu, while Q3FY24 saw exits with Bankbazaar, Slice, BluSmart, Udaan, and Infra.Market.

BlackSoil was established in 2016 and consists of an RBI-registered NBFC and a SEBI-registered AIF. It offers credit to growth companies, FIs, and NBFCs. With a quality loan book and over 190 deals, BlackSoil has invested in high-growth enterprises like ideaForge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purplle, and Curefoods.