United States · 
What does Thoma Bravo invest in?
Thoma Bravo invests most often at Growth and Venture (67% of the rounds on record), in sectors such as Software.
Thoma Bravo highlights
- 01
1 cheques in the last 12 months
- 02
Mostly Growth and Venture: 67% of its rounds
- 03
Sole investor in 3 rounds, median $50M
- 04
2 exits from the portfolio
What they do
Thoma Bravo, the world's largest software-focused investment firm, manages over $172 billion in assets for approximately 80 global software companies.From their own website
- Type
- Private equity
- Cheque size
- Not stated
- Stages
- GrowthBuyout
- Sectors
- Software
- Based in
- Chicago, United States
- Cold pitches
- Not stated
The record
Every round we can evidence, newest first6 appearances
- 2026
1 round
- Feb
- 2023
1 round
- Jul
- 2014
1 round
- Aug
- 2013
1 round
- Jan
- 2007
1 round
- Sept
- 2006
1 round
- Jan
An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.
The team
Named by the firm itself, on a filing, its Form ADV or its company registration12 named
ALAmy Luella Coleman RedenbaughManaging Director, Chief Financial OfficeriForm ADV
CDCarl Dee ThomaManaging Partner / Limited PartneriForm ADV
GTGerald Thomas NowakManaging Director, Chief Administrative and Legal OfficeriForm ADV
JJJennifer James AlperManaging Director, Chief Operating Officer, Head of Investor Relations & MarketingiForm ADV
JLJustin LioiSenior Vice President of Sole Member of the General PartneriFiling they signed
LMLee Mark MitchellManaging Partner / Limited PartneriForm ADV
OMOrlando M. BravoManaging Partner / Limited PartneriForm ADV
PHP. Holden SpahtManaging Partner of the ManageriFiling they signed
PHPaul Holden SpahtManaging Partner / Limited PartneriForm ADV
SSSamuel Scott CrabillManaging Partner / Limited PartneriForm ADV
SJSeth Joseph BoroManaging Partner / Limited PartneriForm ADV
SASteven Anthony SchwabSenior Director, General Counsel and Chief Compliance OfficeriForm ADV
We also hold 59 people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.
What the register says
From the firm's own filings with the SEC, which it must file accurately by law
$183Bassets it managesOct 2026
16+funds on filenumbered funds in its name
Registeredinvestment adviserfull reporting to the SEC
- Legal name
- Thoma Bravo, L.P.
- SEC number
- CRD 157041
Funds on its Form ADV
115 private funds, $137B in gross assets · filed Nov 2024
Private equity 112Hedge 3
- Thoma Bravo Fund XV-A, L.P.Private equity317 investors$17B
- Thoma Bravo Fund XIV-A, L.P.Private equity224 investors$11B
- Thoma Bravo Fund XV, L.P.Private equity207 investors$9.2B
- Thoma Bravo Fund XIII-A, L.P.Private equity170 investors$9.0B
- Thoma Bravo Fund XIII, L.P.Private equity183 investors$8.5B
- Thoma Bravo Fund XIV, L.P.Private equity186 investors$8.0B
- Proofpoint Co-Invest Fund, L.P.Private equity128 investors$6.1B
- Thoma Bravo Fund XII, L.P.Private equity138 investors$4.4B
- Project Alpine Co-Invest Fund, L.P.Private equity128 investors$4.3B
- Thoma Bravo Fund XII-A, L.P.Private equity76 investors$3.9B
And 105 more on the filing.
Who backs their funds
6 LPs on record in Thoma Bravo's funds
- Committed
- $8.6B
- Funds
- 21
- Vintages
- 2012 to 2025
The institutions that put money into its funds, which the firm then invests in companies.Source: the pension's own report, latest Jun 2026.
California Public Employees' Retirement System (CalPERS)5 funds$2.4B
Fund Vintage Committed Thoma Bravo Fund XVI 2025 $350M Thoma Bravo Europe Fund 2025 $113M Project Quail Opportunities 2022 $1.0B Thoma Bravo Fund XV 2022 $348M Thoma Bravo Fund XIV 2021 $600M - California State Teachers Retirement System13 funds$2.1B
Fund Vintage Committed Thoma Bravo Fund XVI 2025 $250M Thoma Bravo Discover Fund V 2025 $150M Thoma Bravo Fund XV 2022 $300M Thoma Bravo Discover IV 2022 $100M Thoma Bravo Fund XIV 2021 $300M Thoma Bravo Discover Fund III 2021 $100M Thoma Bravo Fund XIII 2019 $300M Thoma Bravo Discover Fund II 2018 $100M and 5 more
Regents of the University of California7 funds$1.4BFund Vintage Committed Thoma Bravo XV 2022 $300M Thoma Bravo Discover IV 2022 $100M Thoma Bravo Growth I 2021 $200M Thoma Bravo XIV 2020 $350M Thoma Bravo Discover III 2020 $100M Thoma Bravo Fund XIII 2018 $325M Thoma Bravo Discover II 2018 $75M 
Washington State Investment Board6 funds$1.3BFund Vintage Committed Thoma Bravo Fund XVI 2025 $400M Thoma Bravo Discover Fund V 2025 $200M Thoma Bravo Discover Fund IV 2022 $200M Thoma Bravo Fund XV 2022 $200M Thoma Bravo Fund XIV 2021 $200M Thoma Bravo Discover Fund III 2021 $100M 
Oregon Public Employees Retirement Fund3 funds$750MFund Vintage Committed Thoma Bravo Fund XVI 2024 $250M Thoma Bravo Fund XV 2022 $250M Thoma Bravo Fund XIV 2021 $250M 
Minnesota State Board of Investments5 funds$625MFund Vintage Committed Thoma Bravo Fund XVI 2024 $150M Thoma Bravo Fund XV 2021 $100M Thoma Bravo Fund XIV 2020 $150M Thoma Bravo Fund XIII 2018 $150M Thoma Bravo Fund XII 2016 $75M
What they claim to have backed
From their own portfolio page (on their website)
1 of 2 we have independently watched raise
DayforceListen
Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.
Exits from the portfolio
Companies it backed that were later bought or listed2 in all
SRSBought by Thoma BravoUndisclosedJan 2013
AtritechBought by Boston Scientific$375MJan 2011
An exit counts when it came after the firm's first round in the company. From historical deal records.
Companies it bought
Acquisitions by the firm itself
MedeAnalyticsUndisclosedSept 2015
DigiCertUndisclosedAug 2015
iPipelineUndisclosedAug 2015
Riverbed Technology$3.5BApr 2015
PowerPlanUndisclosedFeb 2015
Compuware$2.5BSept 2014
Sparta SystemsUndisclosedJul 2014
TravelCLICK$930MMay 2014
Global Healthcare ExchangeUndisclosedFeb 2014
Segall Bryant & HamillUndisclosedFeb 2014
EmpirixUndisclosedOct 2013
Digital Insight$1.0BJul 2013