BlackSoil Capital, one of India’s leading alternative credit NBFCs, has secured an equity infusion of ₹65 crore from FMO, the Dutch entrepreneurial development bank, and Caspian Founder S. Viswanatha Prasad. The fresh capital will be used to strengthen BlackSoil Capital’s balance sheet and support the expansion of its diversified lending portfolio.
Capital Allocation
The company plans to channel the funds toward financing a larger number of priority sector businesses and new-economy enterprises, with a focus on MSMEs, climate-focused ventures, agritech companies, and other underserved growth sectors. The investment marks a significant step in BlackSoil’s next phase of scale and portfolio growth.
Merger Creates a Scaled Institution
This funding follows the recently completed merger of BlackSoil Capital and Caspian Debt, creating a unified ₹2,000 crore institution under the BlackSoil Capital Private Limited brand. The combined entity has cumulatively disbursed nearly ₹14,000 crore across more than 550 companies, and has positioned itself as a robust, institution-grade NBFC catering to early-stage, growth-stage and mid-market borrowers.
Institutional Confidence
With this equity round, BlackSoil consolidates its position as a specialist lender with strong governance, diversified credit capabilities, and long-term institutional backing. FMO, previously an investor in Caspian Debt, has transitioned its shareholding to BlackSoil Capital after the merger, reinforcing continued confidence in the unified entity.
Leadership Commentary
“The last few years have brought a period of transition for NBFCs, marked by evolving liquidity conditions and heightened governance expectations,” said Ankur Bansal, Managing Director, BlackSoil Capital. “FMO’s continued support validates our disciplined lending approach and enables us to expand credit access for MSMEs while maintaining conservative risk management.”
Investor Perspective
“Transitioning our investment to BlackSoil after the merger allows us to back a stronger, scaled NBFC with responsible lending principles,” said Aditya Mohan, Senior Investment Officer – Private Equity, FMO. “This infusion will support the company in extending responsible credit to MSMEs and impact-driven businesses.”
Strategic Alignment
“We wanted our people, portfolio and investors to be part of a company that could take our thesis deeper into underserved segments,” said S. Viswanatha Prasad, Founder – Caspian and Non-Executive Director, BlackSoil Capital. “With BlackSoil, we now combine size, governance and sectoral depth to drive credit into promising areas such as climate and agritech.”
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