Thoma Bravo
A private equity firm founded by Orlando Bravo in 2008, specializing in software and technology sectors. It manages nearly $200 billion in assets with a small, outward-facing team of about 230 people, and is known for its disciplined operational playbook.
First Mentioned
10/16/2025, 5:08:50 AM
Last Updated
10/16/2025, 5:09:40 AM
Research Retrieved
10/16/2025, 5:09:40 AM
Summary
Thoma Bravo, LP is a leading American private equity and growth capital firm with headquarters in Chicago, Illinois, and additional offices in San Francisco and Miami. The firm specializes in acquiring enterprise software companies across application, infrastructure, and cybersecurity sectors, as well as technology-enabled business services. Known for its "consolidation" or "buy and build" investment strategy, Thoma Bravo employs a distinctive operating playbook that involves initial cost-cutting followed by a rigorous focus on growth. As of March 31, 2025, it managed approximately $184 billion in assets. The firm is a successor to Golder Thoma & Co., founded in 1980, and was formally renamed Thoma Bravo in 2008. Led by managing partners including Orlando Bravo and Carl Thoma, the firm has been recognized for its exceptional performance, including being named the world's highest-growing major buyout firm in 2021 and the best-performing buyout investor in 2019. Thoma Bravo remains a private entity, emphasizing long-term value creation and mentorship in its operations.
Referenced in 1 Document
Research Data
Extracted Attributes
Type
Private equity and growth capital firm
Status
Private entity
Country
United States
Headquarters
Chicago, Illinois, United States
Investment Focus
Enterprise software companies (application, infrastructure, cybersecurity), technology-enabled business services, SaaS deals
Managing Partners
Seth Boro, Orlando Bravo, Scott Crabill, Lee Mitchell, Holden Spaht, Carl Thoma
Additional Offices
San Francisco, California, United States; Miami, Florida, United States
Investment Strategy
Consolidation or 'buy and build', operating playbook (cost-cutting followed by growth focus)
Assets Under Management
Approximately $184 billion as of March 31, 2025
Founders (of Thoma Bravo)
Orlando Bravo, Carl Thoma
Founding Date (as Thoma Cressey Equity Partners)
1998-01-01
Timeline
- Golder Thoma & Co., the predecessor firm, was established by Stanley Golder and Carl Thoma. (Source: Wikipedia, DBPedia, Summary)
1980-XX-XX
- The firm split into two, forming GTCR Golder Rauner and Thoma Cressey Equity Partners, the direct predecessor to Thoma Bravo. (Source: Wikipedia, Wikidata)
1998-01-01
- Thoma Cressey Bravo was renamed Thoma Bravo after Bryan Cressey left the company. (Source: Wikipedia)
2008-XX-XX
- Shifted investment focus to market-leading SaaS deals. (Source: Related Document)
2010-XX-XX
- Named the best-performing buyout investor by HEC Paris and Dow Jones after studying 898 funds raised between 2005 and 2014. (Source: DBPedia, Summary)
2019-XX-XX
- Recognized as the world's highest-growing major buyout firm. (Source: DBPedia, Summary)
2021-XX-XX
- Managed over $130 billion in assets. (Source: Wikipedia, Summary)
2023-XX-XX
- Completed the acquisition of a majority stake in USU Product Business, an IT management solutions provider. (Source: Web Search Results)
2024-12-XX
- Made a strategic growth investment in PCMI, a leading provider of administration software for finance & insurance products. (Source: Web Search Results)
2025-03-XX
- Reported approximately $184 billion in assets under management. (Source: Web Search Results)
2025-03-31
- Completed fundraising for its buyout funds totaling over $34.4 billion, including Thoma Bravo Fund XVI ($24.3 billion), Thoma Bravo Discover Fund V ($8.1 billion), and its first dedicated Europe Fund (~€1.8 billion). (Source: Web Search Results)
2025-06-03
Wikipedia
View on WikipediaThoma Bravo
Thoma Bravo, LP is an American private equity and growth capital firm based in Chicago, Illinois. It is known for being particularly active in acquiring enterprise software companies and has over $130 billion in assets under management as of 2023. It is the successor to the firm Golder Thoma & Co., which was established in 1980 by Stanley Golder and Carl Thoma. Thoma Bravo is led by managing partners Seth Boro, Orlando Bravo, Scott Crabill, Lee Mitchell, Holden Spaht and Carl Thoma. The company focuses on the application, infrastructure and cybersecurity software and technology-enabled business service sectors, and uses a "consolidation" or "buy and build" investment strategy.
Web Search Results
- Thoma Bravo - Wikipedia
Thoma Bravo, LP is an American private equity and growth capital firm based in Chicago, Illinois. It is known for being particularly active in acquiring enterprise software companies and has over $130 billion in assets under management as of 2023( It is the successor to the firm Golder Thoma & Co., which was established in 1980 by Stanley Golder and Carl Thoma. Thoma Bravo is led by managing partners Seth Boro, Orlando Bravo, Scott Crabill, Lee Mitchell, Holden Spaht and Carl Thoma. [...] In 1998, the firm split into two firms: GTCR Golder Rauner and Thoma Cressey Equity Partners. In 2008, Thoma Cressey Bravo was renamed Thoma Bravo after Bryan Cressey left the company. [...] In December 2024, Thoma Bravo completed the acquisition of a majority stake in USU Product Business, an IT management solutions provider. It said it has invested as a new major shareholder and plans to invest additionally in the company to accelerate business growth and product innovation.
- Thoma Bravo Makes Strategic Growth Investment in PCMI
Thoma Bravo is one of the largest software-focused investors in the world, with over US$179 billion in assets under management as of December 31, 2024. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo’s deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best [...] MIAMI and CHICAGO – Thoma Bravo, a leading software investment firm, today announced a strategic growth investment in PCMI (“PCMI” or “the Company”), a leading provider of administration software for finance & insurance (“F&I”) products in the automotive and consumer end markets. As part of the transaction, existing shareholders – including PCMI management, its employees, and Equality Asset Management (“EAM”), a growth-focused private equity firm – will retain minority positions in the Company. [...] “Over the past 13 years, we have built PCMI into a leading provider of software solutions by prioritizing product excellence, deep customer understanding and a culture of innovation,” said Mark Nagelvoort, Founder and CEO of PCMI. “We are excited to partner with Thoma Bravo, whose proven expertise in scaling technology companies will help us enhance our platform, accelerate global growth and continue delivering exceptional value to our customers.”
- Thoma Bravo - LinkedIn
Thoma Bravo is one of the largest software-focused investors in the world, with over US$181 billion in assets under management as of June 30, 2025. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo's deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best practices [...] # Thoma Bravo One of the largest software investors in the world, with a focus on enterprise software and technology Financial Services • Chicago, Illinois • 148,240 followers • 201-500 employees [...] see a supercharged future of AI-enabled enterprise software that enhances productivity and innovation in dramatic ways. That future is less about ever-larger foundation models or narrow AI startups that complicate the stack. Instead, we see integrated software systems that orchestrate digital services to accelerate complex tasks, with agents as the 2026 step-function. AI is a massive force multiplier in that equation, but not a radical disruptor. At Thoma Bravo, we welcome the AI-SaaS
- Thoma Bravo - Investment Firms - GrowthCap
Thoma Bravo is the world’s largest technology buyout firm, with a 40+ year history and approximately $184 billion in assets under management as of March 31, 2025. Through its private equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. The firm has acquired or invested in over 535 software and technology companies representing approximately $275 billion of value.\ Its investment philosophy is centered around [...] Orlando Bravo is a Founder and Managing Partner of Thoma Bravo. He led Thoma Bravo’s early entry into software buyouts and built the firm into one of the top private equity firms in the world. Today, Orlando directs the firm’s strategy and investment decisions in accordance with its principles of partnership, innovation, and performance. Orlando graduated Phi Beta Kappa with a bachelor’s degree in economics and political science from Brown University in 1992 and earned a JD from Stanford Law [...] Carl D. Thoma is a Founder and Managing Partner at Thoma Bravo. He was a Co-Founder and Managing Director at Golder, Thoma, Cressey, Rauner and its predecessor funds since 1980. He began his career at First Chicago Equity Group where he helped build one of the largest and most active private equity firms in the country. Carl received an MBA from the Stanford Graduate School of Business and a BS degree in Accounting and Agriculture Economics from Oklahoma State University.
- Thoma Bravo Completes $34.4 Billion Fundraise - PR Newswire
Thoma Bravo is one of the largest software-focused investors in the world, with approximately $184 billion in assets under management as of March 31, 2025. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo's deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best [...] SAN FRANCISCO, MIAMI, LONDON and CHICAGO, June 3, 2025 /PRNewswire/ -- Thoma Bravo, a leading software investment firm, today announced the completion of fundraising for its buyout funds totaling more than $34.4 billion in fund commitments: Thoma Bravo Fund XVI, a $24.3 billion fund, Thoma Bravo Discover Fund V, an $8.1 billion fund, and as previously announced the firm's first dedicated Europe Fund, with approximately €1.8 billion in capital commitments (individually, a "Fund" and [...] ### Thoma Bravo Announces Strategic Minority Investment in SDC Capital Partners Thoma Bravo, a leading software investment firm, today announced a strategic minority investment in SDC Capital Partners ("SDC"), a leading global... ### Thoma Bravo Completes Acquisition of Olo Thoma Bravo, a leading software investment firm, today announced the completion of its acquisition of Olo Inc. ("Olo" or the "Company"), a leading... More Releases From This Source ## Explore
Wikidata
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Country
Founder
Instance Of
Headquarters
Inception Date
1/1/1998
DBPedia
View on DBPediaThoma Bravo, LP, is an American private equity and growth capital firm with offices in San Francisco, Chicago and Miami. It is known for being particularly active in acquiring software companies and has over $114 billion in assets under management. It is the successor to the firm Golder Thoma & Co., which was established in 1980 by Stanley Golder and Carl Thoma. Thoma Bravo is led by managing partners Seth Boro, Orlando Bravo, Scott Crabill, Lee Mitchell, Holden Spaht and Carl Thoma. In 2021 it was the highest growing major buyout firm in the world. In February 2019, the French business school HEC Paris, in conjunction with Dow Jones, named Thoma Bravo, the best-performing buyout investor after studying 898 funds raised between 2005 and 2014. The company focuses on the application, infrastructure and cybersecurity software and technology-enabled business service sectors, and uses a "consolidation" or "buy and build" investment strategy.
