Venture debt firm BlackSoil Capital has received INR 65 crore in funding from Dutch development bank FMO and Caspian Debt founder S. Viswanatha Prasad.
According to BlackSoil, this new capital will strengthen its finances and allow it to lend more. The firm plans to support priority-sector businesses and new-age companies, including those in climate and agritech.
FMO, which had previously invested in Caspian Debt, has now transferred its stake to BlackSoil Capital after the two firms completed their merger last month.
The combined BlackSoil Capital–Caspian Debt entity, now called BlackSoil Capital, manages ₹1,900 crore and has provided debt funding to more than 550 companies.
The merger had been in the works for over a year and received approvals from the Reserve Bank of India (RBI) in September 2024 and the National Company Law Tribunal in April 2025.
Founded in 2016, BlackSoil is an alternative credit platform that operates an NBFC and an AIF. It provides customized credit solutions to growing companies, financial institutions, and small and medium businesses across different sectors.
Some of the startups supported by BlackSoil include HomeLane, mCaffeine, LeverageEdu, and MobiKwik.
After the recent merger, BlackSoil gained around 5,000 new borrowers. This makes its portfolio more diverse and helps the company support more startups at different stages. It plans to invest in sectors such as agritech, healthcare, consumer services, fintech, and cleantech.
BlackSoil aims to grow its assets under management (AUM) by 25% each year over the next few years. Last year, it raised INR 100 crore from existing Indian investors and family offices to strengthen its credit profile and lending capacity. Before that, it completed three rounds of equity funding.
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