Tacora Capital, a Texan enterprise that focuses on venture debt, has successfully accumulated $268.7 million for its second fund, as noted in a recent SEC submission.

In 2022, Tacora’s pioneering fund amassed approximately $350 million, with $250 million contributed by Peter Thiel — the well-known billionaire with Republican affiliations and investor — marking what Bloomberg described at the time as an “uncommonly substantial investment” by Thiel.

Whether Thiel engages with Tacora’s latest fund remains uncertain: The documentation merely reveals there are 28 (unidentified) financiers involved. Tacora’s creator and CEO, Keri Findley, was indisposed to comment on Thiel’s potential participation. Representatives for Thiel did not provide an immediate commentary to TechCrunch.

Tacora, established in 2021, operates from Austin. According to Bloomberg, Findley’s introduction to Thiel came through his venture capitalist firm, Thiel Capital, during her tenure as a partner at Third Point, a hedge fund.

Findley informed TechCrunch that the fresh fund mirrors the effective application of its first fund and caters to a demand for “adaptable, non-leveraged” financial solutions.

Unlike traditional venture capitalists who buy stock in startups, venture debt firms offer loans to emerging businesses. This funding model can appeal to entrepreneurs needing funds yet desiring to retain ownership. Tacora focuses on lending to businesses with significant capital demands, such as fintech and hardware enterprises, stated Findley to TechCrunch. (Findley declined to supply examples of specific companies it has supported up till now.)

The inherent risk with venture debt lies in startups — which frequently use up cash — possibly being unable to fulfill their loan obligations. Tacora asserts that it only supports loans backed by “distinct, substantial assets held by well-secured companies” as per a press announcement for its initial fund.