Cloud computing has revolutionized information technology (IT). The technique leverages a network of remote servers hosted on the Internet to store, manage, and process data, rather than a local server or a personal computer. By enabling on-demand delivery of IT resources and applications via the Internet with pay-as-you-go pricing, cloud computing has paved the way for a slew of efficient, inexpensive services. You couldn't ask for a technology more tailor-made for private equity investors, whose appetite for efficient, cost-effective strategies is legendary.

Witness Thoma Bravo's commitment to the cloud. The venerated 35-year-old technology-focused private equity firm based in Chicago and San Francisco, has backed 25-plus companies that leverage the cloud, including TravelClick, which it bought in May, as well as Sailpoint, GHX, Vision Solutions and Hyland Software. In May, the firm raised a $3.65 billion fund, its biggest to date.

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