Blacksoil Capital NBFC, which is looking to invest in real estate, VC backed startups, and promoter financing of unlisted growth firms, has built a loan book of INR 150 crore in less than a year of operations. In the last quarter (Jan- Mar 2017), the company has invested INR 75 crores across four deals in the real estate space in Mumbai in both residential & commercial segment. Blacksoil Capital NBFC was launched in 2016 and is engaged in providing debt for a period of 6-24 months.
The company has invested in Magnum Developer’s upcoming Lalbaug residential project, Ahuja Developer’s residential project in Mumbai suburbs, Centre One Mall in Navi Mumbai and LAP against Commercial property in Bhandup of Ashok Commercial. The company does ticket sizes upto INR 15-25 crore per deal wherein the focus of large lenders & funds is limited.
Mr Virendra Gala, one of the Promoters of BlackSoil Capital said “We want to build a high quality book of branded as well as local developers having strong expertise in micro-markets of Mumbai. As a strategy we are currently focusing on bridge loans to developers for tiding over their short-term requirement of funds”.
The NBFC is promoted by three prominent Family offices, namely – Mr. Shashi Kiran Shetty, Promoters of AllCargo Logistics; Gala Group, Promoters of Navneet Education Ltd; and Mumbai-based realty expert Mr. Virendra Gala. The company leverages the experience & network of these Promoters who have been actively involved in real estate investments for deal origination & execution.
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