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Bailey McCann, Opalesque New York: Tech-focused private equity firm Thoma Bravo has raised more than $22.8 billion across several funds - a new record for the firm.
New vehicles include the $17.8 billion Thoma Bravo Fund XIV; the $3.9 billion Thoma Bravo Discover Fund, and the $1.1 billion Thoma Bravo Explore Fund. All funds hit their hard-cap and were oversubscribed. Known investors include the New York State Teachers' Retirement System, Washington State Investment Board, and State of Wisconsin Investment Board.
These closings bring Thoma Bravo's assets under management to more than $70 billion.
Thoma Bravo Fund XIV will target large equity investments and is the largest flagship fund in the firm's history and is the fifth-largest tech fund ever raised. The firm's predecessor flagship fund closed on $12.6 billion in January 2019.
Thoma Bravo Discover Fund III will invest in middle-market tech companies. Thoma Bravo Explore Fund will invest in lower middle-market companies. In a statement, the firm said the new influx of cash will significantly increase its footprint in the tech space which has been especially popular with investors. That popularity is likely to continue as more people transition to permanent virtual work and the economy adapts to the covid-era.
Thoma Bravo's funds were in market for approximately nine months and the process was handled almost entirely virtually, the firm told the ...................... To view our full article Click here
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