BlackSoil Asset Management has deployed Rs 750 crore throughout 40 corporations by way of its second credit score fund, BlackSoil India Credit score Fund II (BICF II).

The fund, launched in October 2023, closed at its goal corpus of Rs 500 crore and has absolutely drawn down investor commitments. It has additionally accomplished 10 exits.

The Rs 750 crore deployment is equal to 1.5 occasions the fund’s corpus. BlackSoil mentioned this was achieved by recycling cash acquired by way of repayments and exits into new investments, permitting the capital to be deployed greater than as soon as over the lifetime of the fund.

BICF II is a SEBI-registered Class II Different Funding Fund centered on offering performing credit score to high-growth companies. Its investments span sectors together with monetary companies, fintech, electrical autos (EVs), healthcare, shopper companies, SaaS, deeptech and mobility.

Shopper and web companies, together with B2C and D2C corporations, account for 35% of the fund’s allocations. Fintech and monetary companies make up 25%, whereas mobility, Web of Issues, SaaS and deeptech companies collectively account for an additional 25%. Healthcare and healthtech corporations make up the remaining 15%.

Firms financed by the fund embody Mintoak, Euler Motors, Curefoods, Bluestone, AgroStar and Progcap.

BlackSoil mentioned BICF II’s buyers embody household workplaces and high-net-worth people, with nearly all of commitments coming from repeat investors.

Chirag Shah, govt director at BlackSoil Asset Administration, mentioned the deployment mirrored the agency’s method of supporting companies at completely different levels of progress. He additionally mentioned BlackSoil deliberate to construct a platform of thematic credit score funds centered on particular market alternatives.

BlackSoil was established in 2016 to offer different credit score to rising companies, with a give attention to financing wants that is probably not met by way of standard banking channels. Its present choices embody credit score options for fast-growing and underserved new-economy corporations.