Thoma Bravo has closed its ninth fund with $822.5 million in capital commitments. Its first investment from the fund came last April, when it acquired Acresso Software for $200 million.
Thoma Bravo, LLC, a leading private equity investment firm, announced today it has completed fundraising for its ninth private equity fund, Thoma Bravo Fund IX, LP. The Fund closed at its $822.5 million “hard cap” and was oversubscribed.
Thoma Bravo will invest Fund IX by continuing to apply its buy and build strategy with a focus on software, business and financial services, education and other consolidating industries. The firm is led by its four managing partners: Orlando Bravo, Scott Crabill, Lee Mitchell and Carl Thoma.
“We are pleased to have exceeded our fundraising goal despite a challenging environment,” said Carl Thoma. “We thank our longstanding limited partners for continuing to support us as well as our new limited partners for their trust in us.”
“We are fortunate to have among the most experienced and established limited partners joining us in Fund IX, and we hope to reward their confidence by continuing to produce strong and consistent returns,” added Orlando Bravo.
Thoma Bravo completed its first platform acquisition from Fund IX in April 2008 when it acquired Acresso Software, the leading provider of installation and license management software, for $200 million. The fund subsequently made an equity investment in Manatron, the country’s leading provider of property tax software, to finance the company’s acquisition of Software Techniques, a supplier of computer assisted mass appraisal (CAMA) software to government property appraisal districts.
About Thoma Bravo, LLC
Chicago- and San Francisco-based Thoma Bravo is a leading private equity investment firm that has been providing equity and strategic support to experienced management teams building growing companies for more than 28 years. 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 targets high-quality middle market businesses (enterprise values of $100 million to $500 million) in consolidating industries, with a particular focus in software, business and financial services and education. The firm works in partnership with management to implement its operating and consolidation expertise to build long-term value. Through a series of private equity funds, Thoma Bravo currently manages approximately $2.5 billion of equity capital. For more information on Thoma Bravo, visit www.thomabravo.com.