Thoma Bravo Closes Fund XIII

Thoma Bravo has completed fundraising for Thoma Bravo Fund XIII LP with a hard-cap and oversubscribed close at $12.6 billion.

Fund XIII received support from Thoma Bravo’s network of limited partners which include sovereign wealth funds, public pension funds, multinational corporations, insurance companies, fund-of-funds, endowments, foundations and family offices.

Thoma Bravo specializes in investing in application, infrastructure and security software and technology-enabled services businesses. The firm’s investments typically are in the form of take-private transactions, leveraged buy-outs and growth equity investments in established companies that have or can quickly reach EBITDA of greater than $50 million. The firm’s Discover middle market funds invest from $50 million to $300 million of equity in each transaction while its flagship funds, like Fund XIII, invest in larger opportunities that require equity from $400 million to over $1 billion.

Since 2003, Thoma Bravo has completed over 200 software and technology acquisitions (over 60 platform companies and over 140 add-ons) with an aggregate value of about $57 billion.

“Thoma Bravo was built around partnership and trust. Our firm has a long history and proven track record of bringing innovation and growth to our software companies,” said Orlando Bravo, a managing partner at Thoma Bravo. “The number and size of private equity investment opportunities in enterprise software and technology are expanding. Our firm’s investment and operating philosophy continues to deliver excellent operating results for our companies. We would like to thank our limited partners for their ongoing support and choosing us as their long-term partner in this exciting sector.”

Thoma Bravo, with offices in Chicago and San Francisco, is led by managing partners Seth Boro, Orlando Bravo, Scott Crabill, Lee Mitchell, Holden Spaht and Carl Thoma (www.thomabravo.com).

The closing of Fund XIII follows the April 2018 hard-cap close of Thoma Bravo Discover Fund II LP with $2.4 billion of capital. Thoma Bravo’s earlier flagship fund, Thoma Bravo Fund XII LP, closed in September 2016 at its hard cap of $7.6 billion.

© 2019 Private Equity Professional | January 29, 2019

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