Peter Thiel-backed venture debt firm Tacora has raised $268.7 million for a new fund

Tacora Capital, a Texas firm specializing in venture debt, has raised $268.7 million for its second fund, according to a new report. New SEC filing.

Takora’s inaugural fund in 2022 raised about $350 million, including $250 million from Peter Thiel — a billionaire and prominent Republican investor — in what was considered an “unusually large investment” by Thiel. Bloomberg reported at the time.

It’s not clear whether Thiel is involved in Tacora’s latest fund: all that’s revealed in the filing is that it includes 28 (unnamed) investors. Kerry Findley, founder and CEO of Tacora, declined to comment on whether Thiel had invested. Representatives for Thiel did not immediately respond to TechCrunch.

Founded in 2021, Tacora is headquartered in Austin. Findlay was first introduced to Thiel through his investment firm, Thiel Capital, when she worked as a partner at hedge fund Third Point. According to Bloomberg.

Findlay told TechCrunch that the new fund reflects the successful rollout of the inaugural fund and demand for “flexible, unleveraged” financing solutions.

Venture debt firms lend cash to startups and other companies, rather than buying their stock like traditional venture capital firms. This type of financing can be attractive to founders who need money but don’t want to dilute their equity. Tacura specializes in lending to companies with capital-intensive needs, such as fintech and hardware companies, Findlay told TechCrunch. (Fendley declined to give examples of specific companies she has supported so far.)

The risk with venture debt, of course, is that startups — often burning cash — are unable to repay their loans. Takura says it only backs loans against “specific, robust assets owned by companies in good standing.” According to a press release For her first box.