Private Equity firm Thoma Bravo has promoted multiple executives to partner from principal. Several of the promotions involve private equity executives who are very active in the MSP software and cybersecurity markets -- backing and advising such businesses as Barracuda, ConnectWise, N-able, LogRhythm, SolarWinds and Sophos.
The promotions, according to a Thoma Bravo update, involve:
- Andrew Almeida: Almeida joined Thoma Bravo in 2012 as an associate from Bank of America Merrill Lynch where he worked in investment banking. He serves on the boards of Flexera, Venafi, Sophos, Imperva, Veracode, LogRhythm, Barracuda, Kofax, Imprivata and Qlik.
- Tara Gadgil: Gadgil joined Thoma Bravo in 2016 as a VP, having worked previously as a VP at Berkshire Partners, an associate at TPG Growth and an analyst at Goldman Sachs. She currently serves on the boards of RealPage and Quorum.
- Mike Hoffmann: Hoffmann joined Thoma Bravo in 2014 as a VP, having worked previously as an investor with Providence Equity Partners and as an investment banker with Citigroup Global Markets Inc. He serves on the boards of Calabrio, ConnectWise, N-able, SolarWinds and Talend.
- Brian Jaffee: Jaffee joined Thoma Bravo in 2014 as a VP, having worked previously as an associate and senior associate at Veritas Capital and as an investment banking analyst in the Leveraged Finance Group at Merrill Lynch. He serves on the boards of Auctane, Adenza, Instructure, Conga and Frontline Education
- Carl Press: Press joined Thoma Bravo in 2015 as a VP, having worked previously as a technology investor at HighBar Partners, an associate in the Special Situations Group at Oaktree Capital Management and an analyst at UBS Investment Bank. He co-leads the firm's Explore fund, which focuses on investing in high growth mid-market software and technology companies. Press serves on the boards of Applitools, Foundation Software and Exostar.
- Adam Solomon: Solomon joined Thoma Bravo in 2021 as a principal, having worked previously as a principal at Francisco Partners, an associate at Hellman & Friedman and an analyst at Gleacher Partners. He co-leads the firm's Explore fund, which focuses on investing in high growth mid-market software and technology companies. Solomon serves on the boards of Intel 471 and Raptor Technologies.
- Peter Stefanski: Stefanski joined Thoma Bravo in 2011 as an associate, having worked previously in the Mergers and Acquisitions group at Barclays Capital. He serves on the boards of Medallia, QAD, J.D. Power, ABC Fitness Solutions, Planview and autoTRADER.ca.
In a prepared statement about the promotions, Orlando Bravo, a founder and managing partner at Thoma Bravo, said:
"We're thrilled to welcome this next generation of leaders to our partnership. Each of these exceptional individuals embodies the performance-oriented approach, innovative thinking and entrepreneurial spirit Thoma Bravo is known for and has delivered superior results for our investors and portfolio. Their collective success demonstrates the power of the mentorship culture that is core to Thoma Bravo."
Thoma Bravo's Private Equity Funds and Technology Market Focus
Thoma Bravo has been preparing its next investment fund since around September 2021. Earlier, the private equity firm in October 2020 raised $22.8 billion to address:
- $17.8 billion for the Thoma Bravo Flagship Fund XIV;
- $3.9 billion for the Thoma Bravo Discover Fund III to back midsize enterprise software and technology businesses; and
- $1.1 billion for Thoma Bravo Explore Fund, which targets small technology businesses.
The figures above are based on a 2020 Wall Street Journal report.
