Private equity giant Thoma Bravo has raised its first-ever European-focused fund, securing €1.8 billion ($1.9B) to invest in mid-sized software companies across the continent.
While venture capital firms like Atomico and Cherry Ventures continue to raise growth-stage funds, many North American investors have been retreating from Europe. Andreessen Horowitz, Omers Ventures, and Coatue have all closed their European offices in the past 18 months, creating an opening for private equity firms like Thoma Bravo to step in.
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Thoma Bravo has been active in Europe for over a decade, but it formalized its presence by opening a London office in 2023. The firm has invested €14 billion across 16 deals in Europe, including:
- Buyouts of French software leader Infovista and other European tech firms
- $5.3 billion acquisition of UK cybersecurity firm Darktrace in 2024
Investing in Europe’s Growing Software Sector
Thoma Bravo partner and European lead Irina Hemmers emphasized the region’s potential:
“Europe is digitizing rapidly, and leading software companies are increasingly looking for dedicated support and investment to accelerate their growth strategies.”
The fund’s launch strengthens the Venture Capital firm’s global expansion and underscores private equity’s growing role in European tech as traditional VC firms pull back.
