BlackSoil AMC deploys Rs 750 Cr across 40 companies, closes second credit fund at Rs 500 Cr

BlackSoil Asset Management, the asset management arm of alternative credit platform BlackSoil, has deployed Rs 750 crore across 40 companies through its second credit fund, BlackSoil India Credit Fund II (BICF II). The fund closed at its target corpus of Rs 500 crore and has achieved 100% drawdown of investor commitments since its launch in October 2023. It has also completed 10 exits. The Rs 750 crore deployment, equivalent to 1.5X the fund’s corpus, was enabled by repayments and exits being recycled into fresh investment opportunities over the fund’s life, allowing capital to be deployed multiple times. BICF II is a SEBI-registered Category II Alternative Investment Fund focused on providing performing credit to high-growth businesses across sectors such as financial services, fintech, climate tech, electric vehicles, healthcare, consumer, SaaS, deep tech and mobility. Consumer and internet businesses, including B2C and D2C companies, account for 35% of the fund’s allocations, followed by fintech and financial services at 25%. Mobility, IoT, SaaS and deep tech together account for 25%, while the remaining 15% is allocated to healthcare and health tech. Companies financed by BICF II include Mintoak, Euler Motors, Curefoods, Bluestone, AgroStar and Progcap. The fund has attracted commitments from a diversified investor base comprising family offices and high-net-worth individuals, with the majority of commitments coming from repeat investors. Launched in 2016, BlackSoil prov…