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Tacora Capital II, LP reported selling $268.7 million to 28 investors, according to a Form D filed with the U.S. Securities and Exchange Commission. A January 2025 report described it as Tacora Capital’s second fund, but the filing does not name the investors—and available reporting does not establish whether Peter Thiel invested in this fund.
What the SEC filing says about Tacora’s new fund
The Form D names Tacora Capital II, LP as the issuer and reports $268,700,000 sold to 28 investors. It lists December 20, 2024, as the date of first sale, and was signed on December 31, 2024. These are issuer-reported disclosures, not figures certified by the SEC, which notes that it has not necessarily reviewed the filing or determined its accuracy or completeness. The SEC Form D identifies Keri Findley as CEO of the investment manager and sole member of the fund’s general partner.
TechCrunch reported on January 2, 2025, that Tacora had raised $268.7 million for its second fund. It described the firm as an Austin-based venture debt lender founded in 2021. TechCrunch’s account says the filing disclosed 28 unnamed investors.
Did Peter Thiel invest in Tacora Capital II?
It is not established by the available reporting. TechCrunch said it was unclear whether Thiel participated in the new fund; Findley declined to comment on his participation. The Form D reports an investor count but does not identify those investors.
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The “Peter Thiel-backed” description refers to earlier backing, not confirmed participation in Tacora Capital II. TechCrunch reported that Tacora’s inaugural fund raised about $350 million in 2022, including $250 million from Thiel. Those are figures for the earlier fund, not commitments to the new one. Crunchbase News, reporting on January 3, 2025, also said Thiel’s participation in the latest fund was unclear.
How venture debt works for startups
Tacora lends to startups rather than buying their equity. The firm focuses on capital-intensive businesses, including fintech and hardware, according to TechCrunch. For a startup, borrowing can provide capital without an immediate sale of ownership; unlike equity financing, however, debt must be repaid. That obligation can become especially difficult for a company that is burning cash or cannot generate enough cash to meet payments.
Tacora founder and CEO Keri Findley told TechCrunch the fund reflected successful deployment of the inaugural fund and demand for “flexible, non-leveraged” financing solutions. The report does not name companies backed by Tacora; Findley declined to identify them. No terms, interest rates, returns, or borrower-specific repayment details for Tacora Capital II were disclosed in the cited reporting.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What is known about Tacora’s first fund
TechCrunch reported that Tacora’s first fund raised about $350 million in 2022 and that Thiel contributed $250 million. In a March 2022 release quoted by Crunchbase News, Thiel said: “Startups have unique financial needs and Tacora has the expertise to serve them well,” adding, “I’m excited to be their first investor.” Those comments concern the inaugural fund. They do not establish an investment in Tacora Capital II.
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TechCrunch also quoted Tacora’s earlier fund announcement describing its lending focus as “specific, strong assets owned by well-positioned companies.” That language describes the earlier announcement, not independently verified terms or selection criteria for the second fund.
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