Thoma Bravo has closed Fund XI on its $3.65 billion hard cap, beating its $2.5 billion target. Fundraising for Fund XI launched in January and finished with just a single close.
Thoma Bravo, LLC, a leading private equity investment firm, 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.
Thoma Bravo will invest Fund XI with a continued emphasis on the firm’s successful “buy and build” investment strategy in the software and technology enabled services sectors. Since 2000, software and technology focused funds managed by current firm partners have outperformed most vintage year peer funds.
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 culminated relatively 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 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.”
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity investment firm building on a 30+ year history of providing equity and strategic support to experienced management teams and growing companies. The firm seeks to create value by collaborating with company management to improve business operations and provide capital to support growth initiatives. Thoma Bravo invests with a particular focus on application and infrastructure software and technology enabled services. The firm now manages a series of private equity funds representing more than $7.5 billion of equity commitments. For more information, visit www.thomabravo.com.