Thoma Bravo Discover Fund II’s $2.4 Billion Fundraising

Kirkland & Ellis LLP represented Thoma Bravo, LLC, a leading private equity investment firm, which announced today that it has completed fundraising for Thoma Bravo Discover Fund II.

Thoma Bravo, LLC, a leading private equity investment firm, has completed fundraising for Thoma Bravo Discover Fund II. The fund closed at its hard cap with a total of $2.4 billion in commitments, and will focus on middle market software investments like its predecessor, Thoma Bravo Discover Fund. The oversubscribed fund received strong support from a diverse range of Thoma Bravo’s existing institutional investors, including sovereign wealth funds, public pension funds, multinational corporations, insurance companies, fund-of-funds, endowments, foundations and family offices.

Discover II will be deployed utilizing Thoma Bravo’s buy-and-build investment strategy, and will target investments in application, infrastructure and security software and technology-enabled services. Discover II provides an additional vehicle for investments that are expected to require less equity capital than the larger investments that are the focus of Thoma Bravo’s flagship funds.

Since 2003, Thoma Bravo has completed more than 180 software and technology-enabled service acquisitions, representing approximately $49 billion in enterprise value. Thoma Bravo is led by Managing Partners Orlando Bravo, Seth Boro, Scott Crabill, Lee Mitchell, Holden Spaht, Carl Thoma and Partners Jack Le Roy, A.J. Rohde, Robert Sayle and Hudson Smith.

The Kirkland team was led by investment funds partners John Muno (Picture) and Katie St. Peters and included investment funds partners Bruce Ettelson, Scott Moehrke, Adam Skinner and Josh Westerholm, investment funds associates Laura Stake, Drew Beres, Nathan Jimenez, Angela Oldham, Danielle Weinberg Dixon and Ryan Swan, tax partners William Welke and Daniel Meehan and tax associate Julie Rhoades, employee benefits partner Elizabeth Dyer and associate Erica Rozow, and bank regulatory of counsel Julie Kunetka.

 

Involved fees earner: John Muno – Kirkland & Ellis; Katie St. Peters – Kirkland & Ellis; Bruce Ettelson – Kirkland & Ellis; Scott Moehrke – Kirkland & Ellis; Adam Skinner – Kirkland & Ellis; Josh Westerholm – Kirkland & Ellis; Laura Stake – Kirkland & Ellis; Drew Beres – Kirkland & Ellis; Nathan Jimenez – Kirkland & Ellis; Angela Oldham – Kirkland & Ellis; Danielle Weinberg Dixon – Kirkland & Ellis; Ryan Swan – Kirkland & Ellis; William Welke – Kirkland & Ellis; Daniel Meehan – Kirkland & Ellis; Julie Rhoades – Kirkland & Ellis; Elizabeth Dyer – Kirkland & Ellis; Erica Rozow – Kirkland & Ellis; Julie Kunetka – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: Thoma Bravo;