Thoma Bravo Adds Two New Managing Partners

Thoma Bravo Adds Two New Managing Partners

thoma nfThoma Bravo has promoted Seth Boro and Holden Spaht to managing partner. Both Mr. Boro and Mr. Spaht joined Thoma Bravo in 2005 as vice presidents in the firm’s San Francisco office and were promoted to partner in 2011.

“Over their eight-plus years with the firm, Seth and Holden have proven to be tremendous investment professionals,” said Orlando Bravo, managing partner of Thoma Bravo. “Seth has been instrumental in guiding the firm into very rewarding areas for our investors and has led some of our most meaningful transactions. Holden has shown incredible investment judgment and has demonstrated exceptional skill in building and growing a portfolio of profitable companies.”

boro nfMr. Boro has played a key role in the firm’s acquisition and development of Keynote Systems; Blue Coat Systems; Mediware Systems; Tripwire; Hyland Software; Entrust; SonicWALL; LANDesk Software; Flexera Software; and Vision Solutions. He joined Thoma Bravo after earning an MBA from the Stanford Graduate School of Business. Mr. Boro’s prior experience includes positions at Summit Partners, Credit Suisse and First Marathon Securities. Mr. Boro also has a Bachelor of Commerce degree from Queen’s University in Kingston, Canada.

spaht nfMr. Spaht joined Thoma Bravo in 2005 from Morgan Stanley, where he had worked with that firm’s buyout fund in London and its corporate finance team in San Francisco. His prior experience also includes positions with Thomas H. Lee Partners and Morgan Stanley.  At Thoma Bravo, he has played a key role in the firm’s acquisition and development of Digital Insight; Telestream; Deltek; Embarcadero Technologies; Edmentum; Roadnet Technologies; and Sirius Computer Solutions. Mr. Spaht earned an MBA from Harvard Business School and a bachelor’s degree from Dartmouth College.

“Seth and Holden have contributed greatly to identifying, completing and managing many of our most successful investments,” said managing partner Carl Thoma. “Their expertise and success, particularly in the software and technology sectors, have helped produce some of the most successful funds in our firm’s history, and we’re confident this promotion will help us continue to produce strong returns for 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 $4 billion of equity capital. The firm was founded in 1981 and has offices in Chicago and San Francisco (

Mr. Boro and Mr. Spaht join current managing partners Orlando Bravo, Scott Crabill, Lee Mitchell and Carl Thoma as leaders of the firm. “Seth and Holden have demonstrated outstanding firm leadership,” said Mr. Bravo. “Carl, Lee, Scott and I are very proud to have them join us as managing partners.”

© 2013 PEPD • Private Equity’s Leading News Magazine • 10-10-13

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