Peter Thiel-Backed Tacora Raises $685 Million For Oversubscribed Fund II With Bold Private Credit Play
Peter Thiel-backed Tacora Capital Management has successfully raised $685 million for its Fund II, surpassing the initial target of $500 million. This achievement is a testament to the firm’s unique asset-based private credit strategy.
What Happened: Tacora Capital Fund II was significantly oversubscribed, with demand exceeding capacity by hundreds of millions, according to a press release on Wednesday.
Nearly all Fund I investors returned, joined by new institutions including endowments, pensions, family offices, and registered investment advisors.
Led by CEO and Chief Investment Officer Keri Findley, Tacora specializes in asset-based private credit, offering loans between $10 million and $50 million to companies in sectors such as FinTech, InsurTech, PropTech, and LegalTech.
"We appreciate the continued support of our returning investors, and are gratified that an expanding institutional investor base recognizes the opportunity and important role we play within the tech-forward, venture-backed ecosystem," said Findley.
"It is an exciting time to help accelerate the development of these best-in-class companies and strengthen the future of American entrepreneurship."
Why It Matters: The success of Tacora Capital Management’s Fund II is indicative of the growing interest in alternative financing solutions for high-growth, tech-enabled companies.
This trend is in line with the broader shift towards innovative financing models, as seen in the $500 million equity investment in Crusoe Energy, a data center startup, led by Thiel’s Founders Fund.
Brian Singerman and Lee Linden are also raising over $500 million for GPx, a hybrid venture fund backed by Thiel. It invests in emerging VCs early and co-leads later-stage rounds in their best startups.
The model helps small funds stay competitive without scrambling for follow-on capital.
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