BlackSoil Capital Raises INR 65 Cr To Expand Lending Portfolio

SUMMARY

BlackSoil said that the capital will strengthen its capital base and support the expansion of its lending portfolio

The merged BlackSoil Capital-Caspian Debt entity, now called BlackSoil Capital, has combined assets under management (AUM) of INR 1,900 Cr

BlackSoil’s startup portfolio includes companies such as HomeLane, mCaffeine, LeverageEdu and MobiKwik

Venture debt firm Blacksoil Capital has received an equity infusion of INR 65 Cr from Dutch entrepreneurial development bank FMO and Caspian Debt founder S Viswanatha Prasad.

In a statement, BlackSoil said that the capital will strengthen its capital base and support the expansion of its lending portfolio. It will enable the company to finance a larger pool of priority sector businesses and new-economy enterprises, including climate and agritech firms.

FMO, which was earlier an investor in Caspian Debt, has transitioned its shareholding to BlackSoil Capital following the completion of merger of the two entities last month.

The merged BlackSoil Capital-Caspian Debt entity, now called BlackSoil Capital, has combined assets under management (AUM) of INR 1,900 Cr and cumulatively disbursed debt capital to more than 550 companies.

The merger was in the works for over a year and received regulatory approvals from the Reserve Bank of India (RBI) and the National Company Law Tribunal in September 2024 and April 2025, respectively.

Founded in 2016, BlackSoil is an alternative credit platform comprising an NBFC and AIF. It provides customised alternative credit solutions to growth companies, financial institutions, and MSMEs across diverse sectors.

BlackSoil’s startup portfolio includes companies such as HomeLane, mCaffeine, LeverageEdu and MobiKwik. The NBFC said that after the merger, it has gained access to a new borrower segment of around 5,000 entities, making its portfolio more granular and enabling it to back a larger number of startups across stages.

Going ahead, BlackSoil plans to invest across sectors such as agritech, healthcare, consumer services, fintech and cleantech. The company is targeting a 25% CAGR growth in AUM over the next few years.

Last year, BlackSoil raised INR 100 Cr from existing Indian investors and family offices to strengthen its credit profile and borrowing capacity. Prior to that, the firm had completed three equity infusion rounds.