Thoma Bravo Raises $3.7B For Latest PE Fund

May 5 2014 | 12:31pm ET

Private-equity firm Thoma Bravo has closed its latest fund at $3.65 billion.

Thoma Bravo Fund XI was significantly oversubscribed, reaching its hard cap of limited partner commitments and exceeding its initial target of $2.5 billion. The target was reached relatively quickly—fundraising kicked off in January.

The fund will be invested in the software and tech-enabled services sectors, in line with the firm’s  “buy and build” investment strategy.

Thoma Bravo is led by managing partners Orlando Bravo, Seth Boro, Scott Crabill, Lee Mitchell, Holden Spaht and Carl Thoma; and partner Robert Sayle.

The firm had raised $1.7 billion for its Fund X, which began investing in early 2012, and a supplemental fund.

“We are humbled by the overwhelming support we received from our continuing and new investors and thank all of them for their commitments to Fund XI,” said Bravo in a statement. “With our experienced team and sound investment strategy, we look forward to continuing to generate strong and consistent returns and enhancing our long term partnerships with our investors.”

Thoma Bravo invests with a particular focus on application and infrastructure software and technology enabled services. The firm now manages a series of private equity funds representing more than $7.5 billion of equity commitments.

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