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Thoma Bravo to double size of 2012 fund with new $2.5bn-targeting vehicle

30 Jan 2014

Orlando Bravo Thoma BravoUS private equity firm Thoma Bravo is reportedly back in the market for another flagship buyout fund just two years after holding a $1.25bn final close for its last vehicle.

The firm looking to double that amount with the new fund by collecting up to $2.5bn according to peHub, which cited three people with knowledge of the firm.

Thoma Bravo initially targeted $950m for the predecessor Fund X vehicle, but passed that amount in just five months.

The fund has been used to continue the firm’s buy and build strategy in consolidating industries, with a focus on enterprise and infrastructure software and financial and business services.

Thoma Bravo is led by namesakes Orlando Bravo, pictured, and Carl Thoma, who are managing partners alongside Scott Crabill, Lee Mitchell, Holden Spaht and Seth Boro.

The firm completed its first platform acquisition for Fund X when it acquired Telestream, a leading provider of live and on-demand digital video tools and solutions.

It soon followed that by leading an investment group in a $1.3bn take-private deal for Blue Coat Systems, a leading provider of web security and network optimization.

Thoma Bravo is now looking to sell Blue Coat after it drew interest from other private equity firms.

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