BlackSoil Asset Management and Its Credit Fund Success

BlackSoil Asset Management, which operates as the asset management division of alternative credit platform BlackSoil, has successfully allocated Rs 750 crore across 40 companies through its second credit fund, known as BlackSoil India Credit Fund II (BICF II). The fund has reached its target corpus of Rs 500 crore and recorded a complete 100% drawdown of investor commitments since its inception in October 2023. It has also achieved 10 successful exits.

This Rs 750 crore deployment represents 1.5 times the fund’s original corpus. This has been made possible by the recycling of repayments and exits into new investment opportunities over the fund’s lifespan, thereby allowing for multiple capital deployments.

Focus of BlackSoil India Credit Fund II

BICF II is registered as a SEBI Category II Alternative Investment Fund and is dedicated to providing performing credit to high-growth businesses across various sectors. These sectors include financial services, fintech, climate technology, electric vehicles, healthcare, consumer products, SaaS, deep tech, and mobility.

Investment Distribution

The fund’s allocations reveal that consumer and internet businesses, which encompass both B2C and D2C companies, constitute 35% of the total. Fintech and financial services make up 25%, while mobility, IoT, SaaS, and deep tech collectively account for another 25%. The remaining 15% is designated for healthcare and health tech.

Portfolio Highlights

Among the companies financed by BICF II are Mintoak, Euler Motors, Curefoods, Bluestone, AgroStar, and Progcap. The fund has successfully attracted commitments from a variety of investors, including family offices and high-net-worth individuals, with a significant portion of these commitments coming from repeat investors.

Founded in 2016, BlackSoil is dedicated to offering alternative credit solutions to rapidly growing and underserved businesses in the new economy, addressing both short- and long-term capital requirements. Its impressive portfolio features 11 unicorns and 14 publicly listed companies.