Tacora Capital, an Austin-based venture debt firm, has successfully raised $268.7 million for its second fund, according to a recent SEC filing. This new fund builds on the success of Tacora's inaugural fund, which raised approximately $350 million in 2022.
- The new fund has secured commitments from 28 investors
- Tacora's first fund in 2022 included a $250 million investment from Peter Thiel
- It's unclear if Thiel is participating in this latest fund
Tacora Capital, founded in 2021 by Keri Findley, specializes in providing venture debt to VC-backed startups. The firm focuses on capital-intensive sectors like fintech and hardware companies, offering an alternative to traditional equity financing.
Findley, who previously worked at Third Point hedge fund, stated that the new fund reflects successful deployment of the inaugural fund and continued demand for flexible, non-leveraged financing solutions.
Tacora's approach involves backing loans against "specific, strong assets owned by well-positioned companies" to mitigate risks associated with startup lending. The firm has provided venture debt to companies including FlexPoint, Exectras, and StayTuned.
This fundraising success comes amid a busy period for Peter Thiel's investment activities. His Founders Fund is reportedly in talks to raise around $3 billion for a new growth-stage focused fund, following high-profile investments in companies like Ramp, Anduril Industries, and Databricks in 2024.
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