Tacora Capital, a Texas agency that focuses on enterprise debt, has raised $268.7 million for its second fund, in line with a new SEC filing.
Tacora’s inaugural fund in 2022 raised about $350 million, together with $250 million from Peter Thiel — the outstanding Republican billionaire and investor — in what was thought of an “unusually massive funding” for Thiel, Bloomberg reported at the time.
It’s not clear if Thiel is concerned in Tacora’s most up-to-date fund: All that’s disclosed within the submitting is that it has 28 (unnamed) buyers. Tacora’s founder and CEO, Keri Findley, declined to touch upon whether or not Thiel invested. Representatives for Thiel didn’t instantly reply to TechCrunch.
Based in 2021, Tacora is predicated in Austin. Findley was first launched to Thiel by means of his VC agency, Thiel Capital, when she labored as a associate at hedge fund Third Level, according to Bloomberg.
Findley informed TechCrunch the brand new fund displays the profitable deployment of the inaugural fund and demand for “versatile, non-leveraged” financing options.
Enterprise debt corporations mortgage money to startups and different companies, as an alternative of shopping for their fairness like conventional VCs. This sort of financing might be enticing to founders who want cash however don’t need to dilute their possession. Tacora focuses on lending to companies with capital-intensive wants, like fintech and {hardware} corporations, Findley informed TechCrunch. (Findley declined to present examples of particular corporations it has backed thus far.)
The danger with enterprise debt, in fact, is that startups — which regularly burn money — aren’t capable of pay their loans again. Tacora says it solely backs loans in opposition to “particular, sturdy belongings owned by well-positioned corporations” according to a press release for its first fund.
