Software-focused private equity giant Thoma Bravo has raised a titanic $32.4bn across its new flagship fund and a pair of other fundraises.
The $24.3bn Thoma Bravo Fund XV is easily the largest-ever private equity fund of its type, dwarfing even the mammoth $17.8bn the firm raised for Fund XIV in 2020.
Alongside that huge large cap raise the firm has also picked up $6.2bn for its fourth mid-market Discover Fund, a big jump compared to the $3.9bn it collected for Fund III.
Thoma Bravo also pulled in $1.8bn for its Explore Fund II, which will target lower mid-market software and technology companies.
Jennifer James, managing director, COO and head of investor relations and marketing at Thoma Bravo, said, “We are energized by our investors’ strong support of the largest fundraise in Thoma Bravo’s history, and of the largest tech fund ever raised, all against the backdrop of a challenging economic and geopolitical environment.”
Firm founder Orlando Bravo added, “Having invested in more than 400 companies, we have seen firsthand how our partnership with management teams can turn great innovators into great companies, yielding fantastic results.”
Areas of interest for Thoma Bravo include healthcare IT, security, financial technology, infrastructure and applications.
Thoma Bravo has had an active year on both the buy and sell side, with buyout fund investments and realizations representing about $38bn in combined enterprise value.
Recent deals from the firm include teaming with Sunstone Partners for a $1.3bn buyout of video-based human testing and experience specialist UserTesting, and a $2.8bn take-private of Ping Identity.
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