Peter Thiel’s Tacora-backed debt firm raises $268.7M in new fund

Tacora Capital, a Texas-based venture capital firm, has raised $268.7 million in its second round of funding, according to SEC news.

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

It is unclear whether Thiel is involved in Tacora’s latest fund: All that is revealed in the document is that he has 28 (unidentified) investors. Tacora’s founder and CEO, Keri Findley, declined to comment on whether Thiel had invested. Thiel’s representatives did not immediately respond to TechCrunch.

Launched in 2021, Tacora is located in Austin. Findley was first introduced to Thiel through his VC firm, Thiel Capital, while working as a partner at hedge fund Third Point, according to Bloomberg.

Findley told TechCrunch that the new fund reflects the successful deployment of the startup fund and the need for “flexible, non-cash” financing solutions.

Venture capital loans lend money to startups and other businesses, rather than buying their products like traditional VCs. This type of funding can be attractive to startups who need funding but don’t want to compromise their ownership. Tacora specializes in lending to businesses with big needs, such as fintech and hardware companies, Findley told TechCrunch. (Findley declined to provide examples of companies he has supported so far.)

The risk of having business loans, is that the founders – who often burn money – cannot repay their loans. Tacora says it only backs “real, strong products from responsible companies.” according to a press release for his first fund.