Peter Thiel Places $250 Million Bet on a Venture Debt Fund

Peter Thiel has had a busy 2022, directing time and money into two US Senate races, a Maltese citizenship, a handful of venture capital funds and more than a dozen technology startups. Among his single biggest bet: venture debt.

The billionaire invested $250 million in Tacora Capital, according to the venture debt firm, which was started this year by Keri Findley, a former partner at Third Point. It’s an unusually large investment for Thiel, the size of which hasn’t been previously reported.

Tacora is backed by an additional $100 million or so from other investors, and the firm has agreements so far to lend to four startups. The ...