Tacora Capital, a Texas agency that focuses on enterprise debt, has raised $268.7 million for its second fund, based on a new submitting with the SEC.
Tacora’s inaugural fund in 2022 raised about $350 million, together with $250 million from Peter Thiel, the outstanding Republican investor and billionaire, in what was thought of an “unusually massive funding” for Thiel. Bloomberg reported on the time.
It is unclear whether or not Thiel is concerned in Tacora’s newest fund: all that is revealed within the submitting is that it has 28 (unnamed) traders. Tacora 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 first met Thiel by his enterprise capital agency, Thiel Capital, when she was working as a associate at hedge fund Third Level. based on Bloomberg.
Findley advised TechCrunch that the brand new fund displays the profitable rollout of the inaugural fund and the demand for “versatile, non-leveraged” monetary options.
Enterprise debt companies lend money to startups and different firms, relatively than buying their capital like conventional enterprise capitalists. This sort of financing may be enticing to founders who want cash however do not wish to dilute their possession. Tacora makes a speciality of lending to companies with capital-intensive wants, equivalent to fintech and {hardware} firms, Findley advised TechCrunch. (Findley declined to offer examples of particular firms he has backed to date.)
The chance of enterprise debt, in fact, is that startups, which regularly burn by money, will not be capable of pay again their loans. Tacora says it solely backs loans towards “particular robust property owned by well-positioned firms” based on a press launch on your first fund.
