Private equity firm Thoma Bravo has closed its first European fund for 1.8 billion euros ($1.9 billion).
Europe does not have a shortage of its own venture capital (VC) funds. While Atomico and Cherry Venture have shut down their growth-stage funds early in recent months, North American investment companies are slowly retreating from Europe. The renowned Silicon Valley VC company Andreessen Horowitz recently closed its UK offices, while Omers Ventures and Coatue have also closed the area’s offices for the past 18 months.
This leaves a hole that private equity companies seeking negotiations can meet.
Thoma Bravo has formalized the region’s existence that began when it launched its London office (the first hub outside the US) in 2023 and acquired French software company Infovista in 2011. Since then, the Chicago-based company has said it has invested around 14 billion euros in 16 European transactions. It was also behind some of 2024’s biggest take private transactions, including those of British cybersecurity firm Darktrace, which Thoma Bravo acquired in a deal worth $5.3 billion.
“The closure of the first European Fund represents an important opportunity to deepen our presence in the region,” said Thoma Bravo partners and European lead Irina Hemmers in a statement. “Europe is rapidly becoming digital, and leading software companies are increasingly looking for dedicated support and investments to accelerate their growth strategies.”
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