Austin, Texas-based Tacora Capital has raised nearly $269 million for a second fund, per an SEC filing.
The venture debt firm’s inaugural fund — with a $300 million target size — was backed heavily by Peter Thiel in 2022.
“Startups have unique financial needs and Tacora has the expertise to serve them well,” said Thiel in a March 2022 release. “I’m excited to be their first investor.”
Tacora Capital provides venture debt to VC-backed startups. Traditionally, venture debt is debt raised usually in unison with raising equity by startups. The debt — often less structured and with fewer financial covenants than other forms of debt — is used for traditional growth purposes and is often lent based on the startup’s investors and/or where the company is in its growth.
Tacora has provided venture debt to companies including FlexPoint, Exectras and StayTuned.
Busy times
It’s unclear if Thiel is participating in the new fund, but nevertheless it has been a busy time for the PayPal cofounder.
Late last month, it was reported his San Francisco-based Founders Fund firm is in talks to raise around $3 billion for a new growth-stage focused fund.
In 2023, the firm cut its planned $1.8 billion eighth fund by about half and rolled over the remaining money into a ninth fund.
Founders Fund — whose investments over the years include Airbnb, Palantir Technologies and Stripe — had a busy 2024, making several high-profile investments in companies such as fintech startup Ramp, defense startup Anduril Industries, and AI and data platform Databricks.
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Illustration: Dom Guzman
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