Austin, Texas-based Tacora Capital has raised about $269 million for its second fund, according to an SEC filing.
The venture debt firm’s first fund had a target size of $300 million in 2022 and was heavily backed by Peter Thiel.
“Emerging companies have unique capital needs, and Tacora has the expertise to best serve them,” Thiel said in a March 2022 release. “We are excited to be their first investor.”
Tacora Capital provides venture debt to VC-backed startups. Traditionally, venture debt is debt that is typically raised at the same time as a startup raises capital. This debt is less structured and often has fewer financial covenants than other forms of debt, is used for traditional growth purposes, and is often lent out to startup investors or based on the growth of the company. .
Tacora has provided venture debt to companies such as FlexPoint, Exectras, and StayTuned.
busy season
It’s unclear whether Thiel is participating in the new fund, but it’s still a busy time for the PayPal co-founder.
Late last month, it was reported that his San Francisco-based Founders Fund company was in talks to raise about $3 billion for a fund focused on a new stage of growth.
The company cut its planned $1.8 billion eighth fund in 2023 by about half and rolled the remaining funds into a ninth fund.
Founders Fund (long-time investors in Airbnb, Palantir Technologies, Stripe and more) has had a busy 2024, with investments in fintech startup Lamp, defense startup Anduril Industries, AI and It has made several high-profile investments in companies such as data platform Databrix.
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Illustration: Dom Guzman
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