Buyout firm Thoma Bravo has raised $1.25 billion for its newest fund, Thoma Bravo Fund X, the firm announced Tuesday. peHub reported on fundraising efforts for the new fund last October. Thoma Bravo completed its first platform acquisition for Fund X last month when it acquired Telestream, a provider of live and on-demand digital video tools. More recently, the firm led an investment group that took private Blue Coat Systems, a provider of Web security and WAN optimization technology.
Thoma Bravo, LLC, a leading private equity investment firm, announced today it has completed fundraising for Thoma Bravo Fund X. The Fund closed at $1.25 billion and was substantially oversubscribed.
Thoma Bravo will invest Fund X by continuing to apply its buy and build strategy in consolidating industries with a focus on enterprise and infrastructure software and financial and business services. The firm is led by its four managing partners: Orlando Bravo, Scott Crabill, Lee Mitchell and Carl Thoma, and two partners: Holden Spaht and Seth Boro.
“We are very pleased with the success of our last three funds which, of course, was an important factor in the strong reception Fund X achieved,” said Carl Thoma. “With the new fund, we expect to continue our investment focus on consolidating industry sectors, support for existing management, immediate operational improvements, and rapid growth through accretive acquisitions—all part of our more than 30-year heritage.”
“We are pleased to have exceeded our fundraising goal quickly despite a challenging fundraising environment,” said Orlando Bravo. “We appreciate the support and validation from our prior and new investors, and we expect to reward their confidence by continuing to produce strong and consistent returns.”
Thoma Bravo completed its first platform acquisition for Fund X last month when it acquired Telestream, a leading provider of live and on-demand digital video tools and solutions. In addition, earlier this month Thoma Bravo led an investment group that took private Blue Coat Systems, a leading provider of Web security and WAN optimization solutions. The transaction was valued at $1.3 billion.
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 building growing companies. The firm has continued to apply the concept of industry consolidation investing, which seeks to create value through the strategic use of acquisitions to accelerate business growth. Thoma Bravo invests across multiple industries, with a particular focus in enterprise and infrastructure software and financial and business services, and works in partnership with management to implement its operating and consolidation expertise to build long-term value. Thoma Bravo currently manages a series of private equity funds representing almost $4 billion of equity commitments.
(CORRECTION: the headline of the prior version of this story read $1.25 Mln but was changed to $1.25 Bln)