BlackSoil, a platform for alternative financing, had an increase in investments of over 55% in FY23 compared to FY22, totaling almost $90 million across almost 40 agreements. Over 15 exits were also made during the year.

"Our team's ability to identify and invest in promising businesses and sectors, coupled with our focus on building long-term relationships with our clients, has helped the company maintain a robust growth trajectory, even in a challenging economic environment," said Ankur Bansal, Co-Founder and Director of BlackSoil.

Deal flow on the Mumbai-based marketplace increased by 1.5 times. When compared to the same quarter the year before, the company's investments and repayments increased by over 45% and over 65%, respectively. It invested more than $25 million across eight agreements in Q4FY23.

BlackSoil, which was established in 2010 by Ankur and Mohinder Pal Bansal, has invested $280 million across 140 deals. It has $120 million in AUM (assets under management). Upstox, Udaan, Zetwerk, OYO Rooms, Spinny, Curefoods, Blu-Smart, and ideaForge are the nine unicorns in which BlackSoil has invested.

BlackSoil claims that its portfolio companies were able to raise more than $500 million in FY23 despite the current finance difficulties. According to Ankur, "Our dedication to assisting resourceful business owners and investing in organisations with growth potential has paid off, leading to significant investments as well as successful exits."

Through its debt instruments, BlackSoil recently obtained more than $25 million from banks, family offices, corporate treasuries, and high-net-worth individuals.