Tacora Capital Management announced that the firm has raised $685 million for Tacora Capital Management Fund II. Building on the momentum of Fund I, Fund II will continue to execute Tacora’s unique asset-based private credit strategy providing bespoke, founder-friendly financing solutions to high-growth, tech-enabled companies, including those classified as FinTech, InsurTech, PropTech, and LegalTech.
Tacora initially set a target of $500 million for Fund II, and due to strong investor response was able to conclude fundraising considerably oversubscribed in less than nine months. Demand further exceeded capacity by hundreds of millions. Nearly all Fund I investors subscribed to Fund II and are joined by a considerable number of new institutional investors, including endowments, foundations, pensions, large RIAs, and family offices.
“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 Keri Findley, CEO and CIO of Tacora Capital Management. “It is an exciting time to help accelerate the development of these best-in-class companies and strengthen the future of American entrepreneurship.”
Tacora maintains a disciplined focus on providing loans of $10 to $50 million. This specialization allows the firm to partner with emerging companies and enable them to strategically leverage and grow their assets without utilizing sharply dilutive structures. By operating in an underserved space and structuring solutions which are designed to fully align lender and borrower to achieve growth, Tacora has established itself as the lender of choice with a strong pipeline of attractive opportunities.
The firm believes it is positioned for excellent performance and will benefit from long-term trends including higher levels of corporate restructuring and distressed assets, ongoing de-risking and credit tightening by regional banks, and expected market growth in asset-based finance over the next five years.