Thoma Bravo Set to Raise $2 Billion for New Buyout Fund

Thoma Bravo, a renowned private equity firm specializing in software investments, is gearing up to secure approximately $2 billion in capital commitments for its latest flagship buyout fund, Bloomberg reports. The fund, Thoma Bravo Fund XVI LP, is currently in discussions with potential investors and does not have a fixed cap. Simultaneously, the firm is eyeing around $7 billion for its mid-market investment vehicle, Discover Fund V, sources familiar with the matter revealed. Thoma Bravo's previous flagship fund, Thoma Bravo XV, closed in late 2022 with a whopping $24 billion in commitments from notable institutional investors such as Canada Pension Plan Investment Board and California Public Employees' Retirement System, while Discover Fund IV secured $6.2 billion. While discussions are ongoing, no final decisions regarding the size or timing of the fundraisings have been made yet.