Thoma Bravo Winds Down Growth Equity to Focus on Owning Firms

Thoma Bravo is winding down its growth equity business less than five years after the software-focused investing firm debuted it, according to people familiar with the matter. Instead, it’s focusing more on its core buyouts strategy, which owns controlling interests in established firms.

The money manager debuted growth equity in 2021 to take minority stakes in public and private software firms, including HubSync, a software-as-a-service tax and accounting automation company, and enterprise data intelligence firm Alation Inc.