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Tacora Capital , a Texas business firm that specialize in speculation debt , has raised $ 268.7 million for its second fund , according to anew SEC filing .
Tacora ’s inaugural store in 2022 promote about $ 350 million , include $ 250 million from Peter Thiel — the spectacular Republican billionaire and investor — in what was considered an “ unusually big investment ” for Thiel , Bloomberg reported at the time .
It ’s not clear if Thiel is involved in Tacora ’s most recent fund : All that ’s disclosed in the filing is that it has 28 ( unnamed ) investors . Tacora ’s founder and CEO , Keri Findley , declined to comment on whether Thiel invested . Representatives for Thiel did n’t immediately respond to TechCrunch .
Founded in 2021 , Tacora is based in Austin . Findley was first inclose to Thiel through his VC firm , Thiel Capital , when she work as a partner at hedge fund Third Point , harmonize to Bloomberg .
Findley told TechCrunch the new fund reflect the successful deployment of the inaugural fund and demand for “ flexile , non - leveraged ” funding solution .
Venture debt house loan immediate payment to startups and other businesses , rather of buying their equity like traditional VCs . This sort of financing can be attractive to founders who need money but do n’t want to dilute their ownership . Tacora specializes in loaning to businesses with capital letter - intensive needs , like fintech and hardware companies , Findley told TechCrunch . ( Findley declined to give examples of specific troupe it has endorse so far . )
The risk with speculation debt , of course , is that startups — which often burn cash — are n’t able-bodied to pay their loan back . Tacora say it only back loans against “ specific , strong assets owned by well - positioned companies”according to a press releasefor its first investment firm .
