BlackSoil Capital has raised $22 million (Rs 200 crore) in debt funding from Danish development finance institution Impact Fund Denmark, the non-banking finance company said in a statement.
The funding will help the lender scale climate-aligned and inclusive lending across India’s micro, small and medium-sized enterprises, emerging companies, and financial institutions.
The statement said that a significant portion of the capital will be directed towards Tier-2 and Tier-3 markets, with a focus on women-led businesses in structurally underserved sectors.
BlackSoil will also use the proceeds to increase its exposure to renewable energy adoption, climate-smart agriculture, sustainable supply chains, circular economy solutions, and inclusive finance models.
“This facility reflects growing global confidence in India’s alternative credit ecosystem,” said Ankur Bansal, managing director, BlackSoil Capital.
“There is a significant credit gap for climate-focused enterprises and inclusive lenders. This partnership strengthens our ability to scale across domestic markets, support MSMEs and new-economy companies, and deploy capital aligned with India’s climate and inclusion priorities,” he added.
Impact Fund Denmark invests in developing and emerging markets to promote green, just and inclusive societies. It provides capital to businesses aligned with measurable development outcomes and the UN Sustainable Development Goals.
“Green growth requires capital. With this investment, we are helping companies in India access the financing they need to grow and bring more green businesses to market,” said Lars Bo Bertram, chief investment officer, Impact Fund Denmark.
BlackSoil Group is an alternative credit platform comprising the NBFC BlackSoil Capital and an alternative investment fund management business. It has assets under management of $250 million and presence across India and Southeast Asian markets.
The NBFC is backed by leading global DFIs and institutional investors, including FMO, Gray Matters Capital, and Triodos Investment Management, along with the family offices of Allcargo Logistics, Navneet Education, and Mahavir Agency.
