Thoma Bravo has completed fundraising for Thoma Bravo Fund XI. The fund was significantly oversubscribed and closed at $3.65 billion, reaching its hard cap of limited partner commitments and exceeding its initial target of $2.5 billion.
As with earlier funds, Thoma Bravo will invest Fund XI with a continued emphasis on the firm’s “buy and build” investment strategy in the software and technology enabled services sectors.
Thoma Bravo is led by managing partners Orlando Bravo, Seth Boro, Scott Crabill, Lee Mitchell, Holden Spaht and Carl Thoma; and partner Robert Sayle. “We currently have the strongest team that we’ve ever had at Thoma Bravo,” said Orlando Bravo. “The team’s investment track record coupled with the close partnerships we have established with our investors led to a smooth fundraising process.”
Fundraising activity for Thoma Bravo’s newest fund was completed quickly after launching in January. The firm was able to complete fundraising with a single close. Previously, the firm had raised $1.7 billion for its Fund X, which began investing in early 2012, and a supplemental fund.
“We are humbled by the overwhelming support we received from our continuing and new investors and thank all of them for their commitments to Fund XI,” added Mr. Bravo. “With our experienced team and sound investment strategy, we look forward to continuing to generate strong and consistent returns and enhancing our long term partnerships with our investors.”
Thoma Bravo provides equity and strategic support to management teams building growing companies. The firm originated the concept of industry consolidation investing, which seeks to create value through the strategic use of acquisitions to accelerate business growth. Thoma Bravo currently manages approximately $7.5 billion of equity capital. The firm was founded in 1981 and has offices in Chicago and San Francisco (www.thomabravo.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 5-5-14
