Thoma Bravo, LP is one of the world's largest software-focused private equity firms, specializing in application, infrastructure, and cybersecurity software. The firm uses a 'buy and build' consolidation strategy and manages over $172 billion in assets for approximately 80 global software companies.
They made 3 investments in the last 12 months. Average disclosed round size is $194.1M (across 32 rounds with reported amounts).
Portfolio
33
Fund Size
$34.4B
Top Stage
Series D
Last 12 Mo
3
Team
Carl D. Thoma
Founder and Managing Partner
Seth Boro
Managing Partner
Jennifer James
Managing Director, Chief Operating Officer and Head of Investor Relations and Marketing
Jerry Nowak
Managing Director, Chief Administrative and Legal Officer
Ken S. Park
Managing Director, Investor Relations and Head of Asia
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
Portfolio
| Company | Round | Amount | Date |
|---|---|---|---|
 TRM Labs | Series C | $70M | Feb 2026 |
 Azul | Unknown | — | Dec 2025 |
 Illumio | Series G | $225M | Oct 2025 |
| KKyndi | Series A | $13M | Jan 2024 |
| TRM Labs | Series B | — | Nov 2022 |
 Alation | Series E | $123M | Nov 2022 |
 Alma | Unknown | $130M | Aug 2022 |
| HHelloalma Com | Series D | $130M | Aug 2022 |
 Alma | Series D | $130M | Aug 2022 |
 Aisera | Series D | $90M | Aug 2022 |
 Falconx | Series D | $150M | Jun 2022 |
 AppOmni | Series C | $70M | Jun 2022 |
 Imply | Series D | $100M | May 2022 |
 Vivian | Unknown | $60M | Apr 2022 |
| VVivian Health | Unknown | $60M | Apr 2022 |
 Personetics | Unknown | $85M | Jan 2022 |
 Project44 | Growth | — | Jan 2022 |
| AppOmni | Series C | $70M | Jan 2022 |
 Alation | Series E | $123M | Jan 2022 |
| AAlation Inc | Series E | $123M | Jan 2022 |
 Paradox | Series C | $200M | Dec 2021 |
 Paradox | Series C | $200M | Dec 2021 |
 Anchorage | Series D | $350M | Dec 2021 |
 Pendo | Series D | $110M | Nov 2021 |
 FTX | Series B | — | Oct 2021 |
Top Co-Investors
Last updated: 7 October 2026