Thoma Bravo Discover Fund Overview and Details

The Thoma Bravo Discover Fund is a unique investment vehicle that offers a range of benefits to its investors. It's a non-traded business development company (BDC) that focuses on providing financing to middle-market companies.

The fund is sponsored by Thoma Bravo, a well-established private equity firm with a strong track record in the industry. Thoma Bravo has a long history of successfully investing in and growing businesses.

The Thoma Bravo Discover Fund has a specific investment objective, which is to generate current income and long-term capital appreciation for its investors. It achieves this by investing in a diversified portfolio of debt and equity securities.

Investors in the Thoma Bravo Discover Fund can expect a regular stream of income, as the fund distributes its net investment income quarterly.

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Thoma Bravo has been a major player in the private equity world for over two decades, with a focus on software investments.

The company has a long history of making strategic acquisitions, starting with Prophet 21 in 2002. They've since made over 300 software deals, with a portfolio of over 40 software companies.

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Thoma Bravo has been particularly active in the enterprise software sector, with notable acquisitions including Medallia, Stamps.com, Anaplan, and Coupa Software.

One notable trend in Thoma Bravo's investment strategy is their focus on cloud-based software companies. In 2018, they took Barracuda Networks private for $1.6 billion, and in 2022, they acquired SailPoint for $6.9 billion.

Thoma Bravo has also made significant investments in the security sector, with acquisitions including Imperva, Sophos, and Proofpoint.

In 2023, the company acquired Magnet Forensics for CA$1.8 billion, and merged it with Grayshift, a digital forensics firm in their existing portfolio.

Here are some key statistics on Thoma Bravo's investments:

Thoma Bravo's investments have helped shape the software and security sectors, and their focus on cloud-based companies is likely to continue in the future.

Thoma Bravo Discover Fund IV LP is a $6.2 billion fund that targets middle-market equity investments.

The fund is part of a larger fundraising effort by Thoma Bravo, which has completed three new funds with total capital commitments of $32.4 billion.

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Limited partners in the new funds include sovereign wealth funds, public pension funds, multinational corporations, insurance companies, fund-of-funds, endowments, foundations, and family offices.

Thoma Bravo has invested in over 400 companies and has seen firsthand how their partnership with management teams can turn great innovators into great companies, yielding fantastic results.

The firm's software portfolio includes 55 companies with approximately $20 billion of annual revenue and more than 75,000 employees.

Thoma Bravo has $120 billion in assets under management with offices in Chicago, Miami, and San Francisco.

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