BlackSoil, an alternative credit platform, said it invested $29 million (Rs233 crore) across 11 portfolio companies in July-September 2024. In another development, Peak XV Partners selected 14 startups for the tenth cohort of Surge, its seed-stage platform for founders.
BlackSoil invests $29m in 11 startups in Q2
BlackSoil, an alternative credit platform, invested $29 million (Rs233 crore) across 11 portfolio companies in July-September 2024 (or Q2 FY25), with investments spanning financial institutions, healthcare, logistics, and consumer businesses.
The investments included seven new portfolio companies and four recurring clients, the firm said in a statement. Blacksoil also exited 11 investments during the quarter, including Upstox, Yatra, Jai Kisan, HealthPlix, and Mozark.
The company’s assets under management (AUM) grew by around 25% year-on-year, driven by steady investment activity, the statement added.
“This quarter’s diverse investments across diverse sectors reaffirm our commitment to empowering high-potential, high-growth startups. We are excited about our continued momentum and the impending merger of Caspian Impact Investments into BlackSoil, which will further strengthen our position in the market,” said Ankur Bansal, Managing Director of BlackSoil.
Peak XV selects 14 startups for Surge
Peak XV Partners has selected 14 startups for the tenth cohort of Surge, its seed-stage platform for founders.
Comprising startups building from India, Singapore, Philippines, China, UAE, Australia, UK and the US, the new cohort brings together a mix of startups with a continued focus on AI, developer tools, consumer brands, next-generation fintech, healthcare and more, Peak XV Partners said in a statement.
Surge 10 companies include Amaani, Ambak, Auquan, Brainfish, Clout Kitchen, Dezy, Dubbing Ai, OrbitShift, Parseable, SalarySe, Tailcall, The Health Factory, Wobot and a stealth company in the specialty healthcare space. Amaani is the first company from the Middle East to be in Surge.
The Surge 10 programme will run from October 2024 to February 2025. In addition to getting up to $3 million in seed funding per startup from Surge, founders will receive full-stack support and dedicated partnership from the Surge investment team and the operating team, including hiring, product, tech and marketing, the statement added.