On Monday, alternative credit platform BlackSoil reported that its portfolio investment exceeded $30 million in the third quarter of the current fiscal year (FY24), reflecting a 35% year-on-year growth. During Q3 FY24, the VC firm not only exited six deals successfully but also strategically invested in six new ones. Over the nine months ending in December 2023, BlackSoil achieved a cumulative portfolio deployment surpassing $110 million (over Rs 885 crore) through investments in a total of 30 new deals.

"Our successful performance in this quarter is attributed to our investment strategy of maintaining a diversified portfolio. Navigating future challenges and opportunities, BlackSoil aims to sustain its positive trajectory in Q4", stated Ankur Bansal, Co-founder and Director of BlackSoil. In Q3, the financial institutions/fintech sector led with 42% of total funding, followed by healthcare/health-tech and B2B at 13% each, and logistics and mobility at 12%.

The latest deals involved Everest Fleet, Humana, Keertana, and Cocoblu. Noteworthy exits in the third quarter included Bankbazaar, Slice, Blu-Smart, Udaan, and Infra.Market. Established in 2016, BlackSoil has deployed over $425 million (Rs 3,550 crore) across 190+ deals. Their portfolio features investments in high-growth ventures like Ideaforge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purplle, and Curefoods.