Thoma Bravo closed a $1.065 billion fund that it says will allow it to compete for investments at the upper-end of the software market.
The fund, Thoma Bravo Special Opportunities Fund II, will invest side-by-side with Thoma Bravo Fund XI, a $3.662 billion fund that closed in May 2014.
"We expect the Special Opportunities Fund to give us added flexibility in competing for investments at the larger end of the software market where we think some of the best opportunities will be found," says Thoma Bravo's Orlando Bravo, managing partner.
The firm, which has offices in Chicago and San Francisco, has more than $8.5 billion in equity commitments and a long history of software investments. Thoma Bravo won Mergers & Acquisitions M&A Mid-Market Deal of the Year award for its $930 million purchase of TravelClick.
In March, Thoma Bravo announced it was selling software company Blue Coat Systems Inc. to Bain Capital for $2.4 billion. One of the firm's portfolio companies, Deltek, agreed to buy HRsmart, a talent-management services company, in February. For more on the firm, watch our video interview with Carl Thoma and read Thoma Bravo & Others Bet Big on the Cloud.