Thoma Bravo closes on $22.8bn

This includes a $17.8 billion raise for the firm's largest ever fund.

Fund 1: Thoma Bravo Fund XIV ($17.8 billion)
Fund 2: Thoma Bravo Discover Fund III ($3.9 billion)
Fund 3: Thoma Bravo Explore Fund ($1.1 billion)
Legal adviser: Kirkland & Ellis

In October 2020, Thoma Bravo announced that it had collected $22.8 billion across three fund closes, each reaching the its respective hard-cap. Thoma Bravo Fund XIV, the largest fund in the firm’s history, closed on $17.8 billion and will make large equity investments in North America; Thoma Bravo Discover Fund III will target mid-market opportunities across the same region; and Thoma Bravo Explore Fund will focus on North American lower mid-market equity investments. Investors in these funds included public pension funds, insurance companies, sovereign wealth funds, multinational corporations, funds of funds, endowments, foundations and family offices.