Venture debt platform BlackSoil said on Tuesday that it had raised Rs 250 crore from family offices, prominent ultra-high net worth individuals/high net worth individuals and large institutions through its financial products.

BlackSoil’s investments over the years include nine unicorns – Upstox, Slice, MobiKwik, Udaan, Infra Market, Zetwerk, Oyo Rooms, Spinny and Purplle.

According to BlackSoil, the advent of the funding winter has opened opportunities for alternative credits as they provide the necessary runway to pass working capital solutions, acquisition financing and other short-term financing needs without affecting startups’ overall cap and potential valuation.

Over the past six years, BlackSoil has deployed over $300 million in startups, with deployments reaching an all-time high of over $90 million in FY22.