BlackSoil Capital (BlackSoil Capital Private Limited)

Stage focus

Debt / Venture debt

Primary sector

Private credit / Debt

City

Mumbai

HQ / office

Registered office: 1203, Lodha Supremus, Senapati Bapat Marg, opp. World One Tower, Lower Parel (West), Mumbai 400013, Maharashtra, India. (Office also cited at Tower A, Peninsula Corporate Park, Senapati Bapat Marg, Lower Parel West, Mumbai 400013.)

Fund registered

2013

Investments on record

550

Corpus (as reported)

~INR 1,900 crore combined AUM for the merged BlackSoil + Caspian Debt entity (reported 2025); cumulative disbursement ~INR 14,000 crore across 550+ companies.

Website

blacksoil.co.in

LinkedIn

Profile ↗

BlackSoil Capital Private Limited (BlackSoil Group) is a Mumbai-based alternative credit platform — an RBI-registered systemically important NBFC plus a SEBI Category-II AIF (BlackSoil Fund) — providing venture debt and structured debt to growth-stage startups, SMEs and NBFCs. The legal entity (CIN U67120MH1995PTC084946) was incorporated in 1995; the BlackSoil credit/venture-debt platform was launched/co-founded around 2010 by Ankur Bansal (Co-founder & Managing Director) and Mohinder Pal Bansal (Founding Partner / Chairman); Jatin Chokshi is also a director. In 2024–2025 it completed a merger absorbing Hyderabad-based impact lender Caspian Debt (RBI and NCLT approvals; completed ~31 Oct 2025), with the surviving entity retaining the BlackSoil Capital name.

Venture debt / structured & alternative credit for growth-stage (Series A onward) startups, SMEs and NBFCs; sector-agnostic (consumer, fintech, deeptech, SaaS, D2C, financial inclusion/agri via the absorbed Caspian Debt book).

Venture/structured debt cheques; typical INR ~10-50 Cr per deal (not formally published as a fixed range)

As compiled from public sources — verify with the investor.

SEBI AIF Category II — reported as “Venture debt / alternative credit (RBI-registered NBFC + SEBI Cat-II AIF); growth-stage startups, SMEs, NBFCs. Sector hint of impact/agri stems from the absorbed Caspian Debt business. / Cat II”

• IN/AIF2/13-14/0052
• IN/AIF2/15-16/0208
• IN/AIF2/17-18/0391
• IN/AIF2/19-20/0775
• IN/AIF2/20-21/0784
• IN/AIF2/21-22/0979
• IN/AIF2/23-24/1375

None found (BlackSoil's SEBI Cat-II AIF private LPs include institutional investors; a past transaction had BCPL buying out SIDBI Trustee Co/Samridhi Fund's stake in a portfolio entity, but no current SIDBI FFS LP/anchor relationship verified)

MobiKwik; Upstox; Slice; Udaan; Infra.Market; Zetwerk; OYO; Spinny; Purplle; ideaForge; Yatra; LeverageEdu

Group-level investment team (exact partner count not disclosed); contact: [contact on file]

BlackSoil Group: RBI-registered systemically-important NBFC (BlackSoil Capital Pvt Ltd) plus SEBI-registered Category II AIF (BlackSoil Fund, final close Oct 2022 raising INR 280+ Cr); absorbed Caspian Debt business in 2025 merger

What does BlackSoil Capital (BlackSoil Capital Private Limited) invest in?

Venture debt / structured & alternative credit for growth-stage (Series A onward) startups, SMEs and NBFCs; sector-agnostic (consumer, fintech, deeptech, SaaS, D2C, financial inclusion/agri via the absorbed Caspian Debt book).

What cheque size does BlackSoil Capital (BlackSoil Capital Private Limited) write?

As compiled from public sources: Venture/structured debt cheques; typical INR ~10-50 Cr per deal (not formally published as a fixed range)

How do I pitch BlackSoil Capital (BlackSoil Capital Private Limited) through iHub India?

Create a free startup account, open a funding round, and send a structured pitch from this profile. If the investor accepts, contact details are shared and the conversation moves into a tracked deal room.

Venture debt / Private credit

360 ONE Asset (ex-IIFL PE)

Debt / Venture debt · Private credit / Debt · Mumbai

Seed/Series A (early-stage VC strategy); cheque size not publicly disclosed. Broader alternates platform writes much larger PE/credit cheques.Contact on file

VC fund (Cat II)

5 RIVERS CAPITAL TRUST I

Early stage (Pre-Series A) · Private credit / Debt · Mumbai

USD 1-12 million per case (litigation/dispute finance)Contact on file

Venture debt / Private credit

A K ALTERNATIVE INVESTMENTS TRUST II

Debt / Venture debt · Private credit / Debt · Mumbai

Contact on file

Venture debt / Private credit

Acrobat Capital Fund I

Debt / Venture debt · Private credit / Debt · Bengaluru

Contact on file

Venture debt / Private credit

ADM Capital India AIF Trust

Debt / Venture debt · Private credit / Debt · Bengaluru

Contact on file

VC fund (Cat I)

Aikyam Stressed Assets Trust

Not disclosed · Private credit / Debt · Mumbai

Contact on file

All Debt / Venture debt investors →

• ⚑ NAME/REBRAND: The "ex-Caspian Debt" framing is misleading but rooted in a real event — BlackSoil (Mumbai venture-debt NBFC) and Caspian Debt (Hyderabad impact investor, est. 2004) were two SEPARATE firms; in 2024–2025 Caspian Debt was MERGED INTO BlackSoil (RBI approval 2024/Apr 2025, NCLT clearance, completed ~Oct 2025); surviving brand is BlackSoil Capital, so caspian.in / caspiandebt.in are LEGACY (absorbed entity), not the primary firm. FOUNDING-DATE AMBIGUITY: sources cite founding as 2010 and 2016, while the legal CIN entity dates to 1995 — treat the operating-platform launch (~2010) and legal incorporation (1995) as distinct. EMAIL: no email is displayed on the firm's own (JavaScript-rendered) official site; [contact on file] appears only as the MCA-filed contact on registry aggregators (ZaubaCorp/IndiaFilings) and info@/first@ patterns only via RocketReach-type scrapers — NOT output as verified. CATEGORY: this is a DEBT/credit provider (NBFC), not an early-stage equity VC. PRIVATE firm (not a govt/DFI vehicle), though DFI FMO has been a lender/partner — not ownership.

Compiled from SEBI registrations and public sources as of 2026-07. iHub India lists investors neutrally and does not endorse, rank, or verify investment terms — confirm all details directly with the investor before transacting.

Sources: https://blacksoil.co.in/what-we-do/; https://in.linkedin.com/company/blacksoil-capital