Thoma Bravo is a private equity firm specializing in investing in middle-market companies in fragmented and consolidating industries. The firm and its predecessor firms are generally credited with devising the concept of consolidating companies in fragmented industries, according to the Wall Street Journal. Thoma Bravo’s investment strategy and process was developed more than 30 years ago and more recently has been refined through a series of private equity investment funds representing almost $4 billion in committed capital. The firm invests through private limited partnerships and its investors include a variety of pension funds, endowments and other institutional investors. The firm has more than 25 employees and two offices – San Francisco and Chicago. Thoma Bravo is a member of the Private Equity Growth Capital Council, the National Venture Capital Association and the Illinois Venture Capital Association.