Thoma Bravo raises $32.4 bn for buying software cos

Thoma Bravo, a software investment firm, announced the completion of fundraising for its buyout funds totaling more than $32.4 billion in capital commitments.
VC funding for tech
The software investment firm said the $24.3 billion Thoma Bravo Fund XV will target large equity investments; the $6.2 billion Thoma Bravo Discover Fund IV will target middle-market equity investments; and the $1.8 billion Thoma Bravo Explore Fund II will target lower middle-market equity investments.

Thoma Bravo Fund XV represents the largest tech-focused buyout fund ever raised.

“This fundraise will enable us to further our strategy of collaborating with management teams to build leading software companies. 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,” said Orlando Bravo, a Founder and Managing Partner at Thoma Bravo.

Investments in the Funds will advance Thoma Bravo’s strategy and partnership-driven approach of applying operational and sector expertise to investments across healthcare IT, security, financial technology, infrastructure and applications.

“We are energized by our investors’ 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,” said Jennifer James, Managing Director, Chief Operating Officer and Head of Investor Relations & Marketing at Thoma Bravo.

Thoma Bravo has had an active year on both the buy and sell side, with buyout fund investments and realizations representing approximately $38 billion in combined enterprise value.

Thoma Bravo’s buyout funds have invested in more than 400 software companies, and the software portfolio includes over 55 companies that generate approximately $20 billion of annual revenue and employ over 75,000 staff globally.