Thoma Bravo promotes two

The firm has promoted Seth Boro and Holden Spaht to managing partners in San Francisco, bringing the total number of managing partners to six.

Mid-market firm Thoma Bravo has promoted Seth Boro and Holden Spaht to managing partners at the firm.

Boro and Spaht both joined Thoma Bravo in 2005 as vice presidents and were promoted to partner in 2011. They are based in the firm’s San Francisco office. Thoma Bravo’s other managing partners are Orlando Bravo, Scott Crabill, Lee Mitchell and Carl Thoma.

“Seth and Holden have contributed greatly to identifying, completing and managing many of our most successful investments,” Carl Thoma said in a statement. “Their expertise and success, particularly in the software and technology sectors, have helped produce some of the most successful funds in our firm’s history.”

Prior to joining Thoma Bravo, Boro worked at Summit Partners in Palo Alto, California and at Credit Suisse in Toronto.

Spaht joined Thoma Bravo from Morgan Stanley, where he worked on the firm’s buyout fund in both London and San Francisco. He previously worked at Thomas H Lee Partners in Boston and Morgan Stanley in New York.

Thoma Bravo is investing its tenth fund that collected $1.25 billion on a $900 million target in 2012. The firm is also raising the $400 million Thoma Bravo Special Opportunities Fund I, capital for which will be used to invest alongside Fund X. 

Thoma Bravo was founded in 1998 when Golder Thoma & Company split into two firms, GTCR Golder Rauner and Thoma Cressey Equity Partners – which was eventually renamed Thoma Bravo. The firm manages around $4 billion in private equity commitments.