Orlando Bravo: Difference between revisions

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| nationality  = Puerto Rican
| nationality  = Puerto Rican
| education    = [[Stanford Graduate School of Business]] (MBA)<br>[[Stanford Law School]] (JD)
| education    = [[Stanford Graduate School of Business]] (MBA)<br>[[Stanford Law School]] (JD)
| occupation  = Businessman, private equity investor
| occupation  = Private equity investor, businessman
| known_for    = Co-founder and managing partner of [[Thoma Bravo]]
| known_for    = Co-founder and managing partner of [[Thoma Bravo]]
| spouse      = Katy Bravo
| spouse      = Katy Bravo
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'''Orlando Bravo''' (born 1970) is a Puerto Rican billionaire businessman, investor, and the co-founder and managing partner of [[Thoma Bravo]], a private equity firm focused on software and technology-enabled services. Born in [[Mayagüez, Puerto Rico]], Bravo built his career around a concentrated investment thesis: acquiring enterprise software companies, improving their operational efficiency and profit margins, and generating returns through disciplined management. Under his leadership, Thoma Bravo has grown into one of the largest and most prominent technology-focused buyout firms in the world, completing hundreds of acquisitions valued at more than $250 billion across the software sector. In 2019, ''[[Forbes]]'' listed Bravo on its Forbes 400 ranking of the wealthiest Americans, noting him as the first Puerto Rican-born individual to appear on the list, debuting at number 287.<ref>{{cite web |title=Orlando Bravo |url=https://www.forbes.com/profile/orlando-bravo/ |publisher=Forbes |access-date=2026-02-24}}</ref> A graduate of [[Brown University]] and of both [[Stanford Law School]] and [[Stanford Graduate School of Business]], Bravo has combined legal training with financial acumen throughout his career. He has been an outspoken commentator on artificial intelligence, the software industry, and the dynamics of private equity, frequently appearing at industry events and in financial media.
'''Orlando Bravo''' (born 1970) is a Puerto Rican billionaire businessman, private equity investor, and the co-founder and managing partner of [[Thoma Bravo]], one of the largest private equity firms in the world specializing in enterprise software and technology-enabled services. Born in [[Mayagüez, Puerto Rico]], Bravo built his career around a focused investment thesis: acquiring software companies, improving their operational efficiency and profit margins, and generating returns through disciplined management. Under his leadership, Thoma Bravo has grown from a mid-market buyout firm into a technology-focused private equity powerhouse managing tens of billions of dollars in assets. In 2019, the ''[[Forbes]]'' 400 list recognized Bravo as the first Puerto Rican-born billionaire, with his debut at No. 287 on the list.<ref>{{cite web |title=Orlando Bravo |url=https://www.forbes.com/profile/orlando-bravo/ |publisher=Forbes |access-date=2026-02-24}}</ref> Beyond his investment activities, Bravo has been a significant philanthropist, notably donating $25 million to [[Brown University]] to study economic disparities. In recent years, he has become a prominent voice on the intersection of artificial intelligence and enterprise software, speaking at forums including the [[World Economic Forum]] in Davos about the transformative potential of AI in the software industry.<ref>{{cite web |title=CNBC: Orlando Bravo on AI at the World Economic Forum |url=https://www.thomabravo.com/news-awards/cnbc-orlando-bravo-on-ai-at-the-world-economic-forum |publisher=Thoma Bravo |access-date=2026-02-24}}</ref>


== Early Life ==
== Early Life ==


Orlando Bravo was born in 1970 in Mayagüez, a city on the western coast of Puerto Rico.<ref name="elnuevodia">{{cite news |title=Mago de las inversiones pendiente a la isla |url=http://www.elnuevodia.com/negocios/economia/nota/magodelasinversionespendientealaisla-2252901 |work=El Nuevo Día |access-date=2026-02-24}}</ref> He grew up on the island before leaving to pursue his undergraduate education in the continental United States. Details about his parents and upbringing are not extensively documented in public sources, though Bravo has maintained ties to Puerto Rico throughout his career and has spoken publicly about his identity as a Puerto Rican in the American business world.
Orlando Bravo was born in 1970 in Mayagüez, a city on the western coast of Puerto Rico.<ref name="elnuevodia">{{cite web |title=Mago de las inversiones pendiente a la isla |url=https://web.archive.org/web/20220305181554/https://www.elnuevodia.com/negocios/economia/notas/mago-de-las-inversiones-pendiente-a-la-isla/ |publisher=El Nuevo Día |access-date=2026-02-24}}</ref> He grew up on the island during a period of significant economic transition for Puerto Rico. Bravo has maintained ties to his birthplace throughout his career, expressing interest in the economic development of Puerto Rico and the broader challenges facing the island's economy.<ref name="elnuevodia" />


Bravo attended [[Brown University]] in Providence, Rhode Island, where he completed his undergraduate studies. His time at Brown would later inform his philanthropic activities, as he maintained a relationship with the university well into his professional career. In 2019, Bravo donated $25 million to Brown University to support the study of economic disparities, a gift that reflected his interest in addressing inequality and his connection to his alma mater.<ref name="brown-gift">{{cite news |last= |first= |date=2019-04-17 |title=Puerto Rican alum gives Brown $25M to study economic disparities |url=https://www.providencejournal.com/news/20190417/puerto-rican-alum-gives-brown-25m-to-study-economic-disparities |work=The Providence Journal |access-date=2026-02-24}}</ref>
Bravo's upbringing in Puerto Rico shaped his later philanthropic interests, particularly his focus on economic inequality and the disparities that affect communities in the Caribbean and Latin America. His path from Mayagüez to the upper echelons of American finance represented an unusual trajectory in the private equity industry, which has historically been dominated by investors from the mainland United States.


== Education ==
== Education ==


After completing his undergraduate degree at Brown University, Bravo enrolled in a joint JD/MBA program at [[Stanford University]], attending both [[Stanford Law School]] and the [[Stanford Graduate School of Business]]. He graduated in 1997 with both degrees.<ref name="stanford-gsb">{{cite web |title=Orlando Bravo Talks Private Equity and Taking the Right Risks |url=https://www.gsb.stanford.edu/insights/orlando-bravo-talks-private-equity-taking-right-risks |publisher=Stanford Graduate School of Business |date=2025-11-19 |access-date=2026-02-24}}</ref> The dual degree provided Bravo with both legal expertise relevant to complex deal structuring and the financial and managerial training central to private equity. Speaking at Stanford in 2025, Bravo reflected on his early career, noting that he had just turned 30 when he began his dealmaking career at Thoma Bravo's predecessor firm and that his first three deals included one that "went to zero," underscoring the risks inherent in the private equity business.<ref name="stanford-gsb" />
Bravo attended [[Brown University]] for his undergraduate studies, where he developed interests that would later inform both his career and his philanthropic endeavors.<ref name="brown">{{cite news |date=2019-04-17 |title=Puerto Rican alum gives Brown $25M to study economic disparities |url=https://www.providencejournal.com/news/20190417/puerto-rican-alum-gives-brown-25m-to-study-economic-disparities |work=Providence Journal |access-date=2026-02-24}}</ref> He subsequently pursued a joint JD/MBA degree at [[Stanford Law School]] and the [[Stanford Graduate School of Business]], completing his dual degree in 1997.<ref name="stanfordgsb">{{cite web |title=Orlando Bravo Talks Private Equity and Taking the Right Risks |url=https://www.gsb.stanford.edu/insights/orlando-bravo-talks-private-equity-taking-right-risks |publisher=Stanford Graduate School of Business |date=2025-11-19 |access-date=2026-02-24}}</ref> The combination of legal and business training proved instrumental to his later career in private equity, where deal structuring and operational expertise are both essential components of successful investing. Bravo's time at Stanford coincided with the early stages of the technology boom in Silicon Valley, exposing him to the software and technology sectors that would become the central focus of his investment career.


== Career ==
== Career ==


=== Early Career and Joining Thoma Cressey ===
=== Early Career and Joining Thoma Bravo ===


Following his graduation from Stanford in 1997, Bravo entered the private equity industry. He joined the firm that would eventually become Thoma Bravo, initially known as Thoma Cressey Equity Partners, which was based in Chicago and San Francisco. The firm had been founded by Carl Thoma and was focused on buyouts in various sectors. Bravo joined the firm and began developing what would become its signature investment strategy: a concentrated focus on software and technology companies.<ref name="chicagobusiness">{{cite news |title=Revealed: Thoma Bravo's secret weapon in dealmaking |url=http://www.chicagobusiness.com/article/20140524/ISSUE01/305249982/revealed-thoma-bravos-secret-weapon-in-dealmaking |work=Crain's Chicago Business |access-date=2026-02-24}}</ref>
After completing his joint degree at Stanford in 1997, Bravo entered the private equity industry. He joined the firm that would become Thoma Bravo, beginning his career in technology-focused buyouts at a time when the sector was still considered niche within private equity. Bravo had just turned 30 when, after three unsuccessful deals — including one that "went to zero" — he began to refine the investment approach that would define his career.<ref name="stanfordgsb" /> These early setbacks proved formative, teaching Bravo the importance of operational discipline and the risks inherent in technology investing.


Bravo's early years in private equity were marked by both setbacks and learning experiences. As he recounted at Stanford in 2025, his first three deals were unsuccessful, with one investment losing its entire value.<ref name="stanford-gsb" /> These early experiences shaped his approach to risk management and operational improvement, themes that would define his later career.
The firm traces its origins to Carl Thoma and his partners, who had been active in the buyout business since the 1980s. Bravo's arrival marked a strategic pivot toward technology and software investments. In 2005, the firm completed the acquisition of Prophet 21, a distribution management software company, taking the company private in a management buyout.<ref>{{cite web |title=Management buyout to take Prophet 21 private |url=https://www.mdm.com/articles/1631-Management-buyout-to-take-Prophet-21-private |publisher=MDM |access-date=2026-02-24}}</ref> This deal exemplified the type of transaction that would become Thoma Bravo's signature: acquiring enterprise software companies and working to improve their operations and profitability.


Among Bravo's early transactions was the management buyout of Prophet 21, an enterprise software company serving the distribution industry, which Thoma Cressey took private.<ref>{{cite web |title=Management buyout to take Prophet 21 private |url=https://www.mdm.com/articles/1631-Management-buyout-to-take-Prophet-21-private |publisher=MDM |access-date=2026-02-24}}</ref> This deal was representative of the firm's emerging strategy of acquiring mid-market software companies and working to improve their operations and profitability.
In February 2007, the firm formally reorganized and rebranded, with Bravo becoming a named partner. The entity was restructured as Thoma Cressey Bravo, later simplified to Thoma Bravo, reflecting Bravo's growing influence and leadership within the organization.<ref>{{cite web |title=Thoma Cressey Equity Partners becomes Thoma Cressey Bravo |url=http://www.businesswire.com/news/home/20070215005277/en/Thoma-Cressey-Equity-Partners-Thoma-Cressey-Bravo |publisher=Business Wire |date=2007-02-15 |access-date=2026-02-24}}</ref>


=== Formation of Thoma Bravo ===
=== Building a Software-Focused Investment Strategy ===


In 2007, the firm was restructured and renamed Thoma Bravo, reflecting Bravo's growing influence and leadership role. The rebranding formalized the partnership between Carl Thoma and Orlando Bravo and signaled a strategic shift toward a more focused technology investment platform.<ref>{{cite web |title=Thoma Cressey Equity Partners becomes Thoma Cressey Bravo |url=http://www.businesswire.com/news/home/20070215005277/en/Thoma-Cressey-Equity-Partners-Thoma-Cressey-Bravo |publisher=Business Wire |date=2007-02-15 |access-date=2026-02-24}}</ref> Under the new structure, Bravo served as managing partner and became the firm's primary dealmaker and public face.
Bravo developed a distinctive investment thesis centered on enterprise software companies. His approach involved identifying software businesses — often publicly traded companies or divisions of larger corporations — that had strong market positions but underperformed on operational metrics such as profit margins and revenue growth. After acquisition, Thoma Bravo would implement rigorous operational improvements, frequently transforming the financial profile of these companies before exiting the investments.


The rebranding coincided with an acceleration of the firm's dealmaking activity. Thoma Bravo increasingly targeted software companies across various sub-sectors, including enterprise resource planning, cybersecurity, financial technology, and healthcare IT. The firm's investment thesis centered on acquiring software businesses—often those with recurring revenue models such as subscriptions or maintenance contracts—and then implementing operational improvements to increase profit margins and growth rates.<ref name="bloomberg-reboot">{{cite news |title=Rebooting Software Slowpokes Yields Riches for Two Buyout Firms |url=https://www.bloomberg.com/news/articles/2015-11-03/rebooting-software-slowpokes-yields-riches-for-two-buyout-firms |work=Bloomberg |date=2015-11-03 |access-date=2026-02-24}}</ref>
A 2015 ''Bloomberg'' report detailed how Bravo and Thoma Bravo's strategy of "rebooting software slowpokes" had yielded significant returns for the firm and its investors. The article described the firm's systematic approach to identifying software companies that could benefit from operational restructuring and margin improvement.<ref name="bloomberg2015">{{cite news |date=2015-11-03 |title=Rebooting Software Slowpokes Yields Riches for Two Buyout Firms |url=https://web.archive.org/web/20151106023823/https://www.bloomberg.com/news/articles/2015-11-03/rebooting-software-slowpokes-yields-riches-for-two-buyout-firms |work=Bloomberg |access-date=2026-02-24}}</ref>


=== Growth and Major Deals ===
A 2014 profile in ''Crain's Chicago Business'' described Bravo as a key figure in putting Thoma Bravo on the "high-tech map" within private equity, highlighting his role as the firm's central dealmaker and strategic driver. The article characterized Bravo's approach as combining deep sector knowledge with aggressive operational management of portfolio companies.<ref name="crains">{{cite news |title=Orlando Bravo puts private equity's Thoma Bravo on high-tech map |url=https://web.archive.org/web/20180804044436/https://www.chicagobusiness.com/article/20140524/ISSUE01/305249982/orlando-bravo-puts-private-equity-s-thoma-bravo-on-high-tech-map |work=Crain's Chicago Business |access-date=2026-02-24}}</ref>


Under Bravo's leadership, Thoma Bravo grew rapidly in both fund size and deal volume. The firm's approach of "rebooting software slowpokes"—acquiring underperforming or undervalued software companies and dramatically improving their operations—became well known in the private equity industry.<ref name="bloomberg-reboot" /> A 2015 ''Bloomberg'' article described the firm's strategy as generating significant returns by focusing on operational improvements at software companies that larger private equity firms and strategic acquirers had overlooked.
Among the firm's notable transactions under Bravo's leadership was the acquisition and subsequent sale of Deltek, a provider of enterprise software for project-based businesses. In 2016, Deltek was sold to Roper Technologies, representing a significant exit for Thoma Bravo and underscoring the firm's ability to build value in enterprise software companies over its holding periods.<ref>{{cite web |title=Deltek sale to Roper |url=https://washingtontechnology.com/blogs/editors-notebook/2016/12/deltek-sale-to-roper.aspx |publisher=Washington Technology |access-date=2026-02-24}}</ref>


A ''Crain's Chicago Business'' profile in 2014 highlighted Bravo's role as the firm's "secret weapon in dealmaking," noting his ability to identify acquisition targets in the software sector and to execute complex transactions.<ref name="chicagobusiness" /> The article described how Bravo had put Thoma Bravo on the map as a leading technology-focused private equity firm, distinguishing it from larger, more diversified competitors.
=== Growth of Thoma Bravo ===


One notable transaction during this period was the acquisition of Deltek, a provider of enterprise software for project-based businesses, which Thoma Bravo later sold to Roper Technologies in a transaction that illustrated the firm's buy-and-improve model.<ref>{{cite web |title=Deltek sale to Roper |url=https://washingtontechnology.com/blogs/editors-notebook/2016/12/deltek-sale-to-roper.aspx |publisher=Washington Technology |date=2016-12 |access-date=2026-02-24}}</ref>
Under Bravo's leadership as managing partner, Thoma Bravo experienced substantial growth in assets under management. The firm closed a $7.6 billion fund targeting software and technology sectors, marking one of the largest dedicated technology buyout funds in the industry at the time.<ref>{{cite news |title=Private equity firm Thoma Bravo closes $7.6 billion fund to target software and tech sectors |url=https://www.americaninno.com/chicago/private-equity-firm-thoma-bravo-closes-7-6-billion-fund-to-target-software-and-tech-sectors/ |work=American Inno |access-date=2026-02-24}}</ref>


The firm's fundraising activity also grew substantially. By the mid-2010s, Thoma Bravo was closing multi-billion-dollar funds. In 2016, the firm closed a $7.6 billion fund to target software and technology sectors, one of the largest technology-focused buyout funds at the time.<ref>{{cite news |title=Private equity firm Thoma Bravo closes $7.6 billion fund to target software and tech sectors |url=https://www.americaninno.com/chicago/private-equity-firm-thoma-bravo-closes-7-6-billion-fund-to-target-software-and-tech-sectors/ |work=American Inno |access-date=2026-02-24}}</ref> In an interview with ''Fortune'' that same year, Bravo discussed the firm's use of debt in its transactions and its confidence in the durability of software businesses as investment targets.<ref>{{cite news |title=Thoma Bravo co-founder talks debt and that giant new fund |url=https://fortune.com/2016/09/14/thoma-bravo-co-founder-talks-debt-and-that-giant-new-fund/ |work=Fortune |date=2016-09-14 |access-date=2026-02-24}}</ref>
In a 2016 interview with ''Fortune'', Bravo discussed the firm's approach to leverage and deal structuring, explaining how Thoma Bravo used debt strategically in its acquisitions while maintaining a focus on the underlying operational performance of its portfolio companies.<ref>{{cite news |date=2016-09-14 |title=Thoma Bravo Co-Founder Talks Debt and That Giant New Fund |url=https://web.archive.org/web/20160915134751/http://fortune.com/2016/09/14/thoma-bravo-co-founder-talks-debt-and-that-giant-new-fund/ |work=Fortune |access-date=2026-02-24}}</ref>


A 2017 ''PitchBook'' analysis described the "rapid rise" of Thoma Bravo in the private equity landscape, noting how the firm had distinguished itself through its sector focus and operational playbook.<ref>{{cite news |title=Investor Spotlight: The Rapid Rise of Thoma Bravo |url=https://pitchbook.com/news/articles/investor-spotlight-the-rapid-rise-of-thoma-bravo |work=PitchBook |access-date=2026-02-24}}</ref> A 2017 ''Financial Times'' article similarly examined Thoma Bravo's growing influence in the software buyout market.<ref>{{cite news |title=Thoma Bravo profile |url=https://www.ft.com/content/0a51ff50-0d59-11e7-a88c-50ba212dce4d |work=Financial Times |access-date=2026-02-24}}</ref>
A 2017 report by ''PitchBook'' chronicled what it described as "the rapid rise of Thoma Bravo," noting the firm's emergence as one of the most active and successful technology-focused private equity investors in the world. The report highlighted the firm's consistent deal flow and its ability to generate returns through a repeatable playbook of operational improvement in software companies.<ref name="pitchbook">{{cite news |title=Investor spotlight: The rapid rise of Thoma Bravo |url=https://web.archive.org/web/20170813230712/https://pitchbook.com/news/articles/investor-spotlight-the-rapid-rise-of-thoma-bravo |work=PitchBook |access-date=2026-02-24}}</ref>


=== Recent Activity and Views on AI ===
The ''Financial Times'' also profiled the firm's growing influence in 2017, noting Thoma Bravo's position within the broader landscape of technology-focused private equity.<ref>{{cite news |title=Thoma Bravo profile |url=https://www.ft.com/content/0a51ff50-0d59-11e7-a88c-50ba212dce4d |work=Financial Times |access-date=2026-02-24}}</ref>


By the 2020s, Thoma Bravo had become one of the largest private equity firms globally by assets under management, with a portfolio spanning dozens of software and technology companies. Bravo continued to serve as managing partner and the firm's most prominent spokesperson.
By the mid-2020s, Thoma Bravo had completed hundreds of acquisitions with a combined enterprise value exceeding hundreds of billions of dollars, making it one of the largest private equity firms globally by deal volume in the software sector. Bravo's 30-year tenure in private equity encompassed significant shifts in the technology landscape, from the early days of enterprise software through the rise of cloud computing and software-as-a-service (SaaS) models.


In recent years, Bravo has become an active commentator on the impact of artificial intelligence on the software industry. Speaking at the [[World Economic Forum]] in Davos in January 2026, Bravo discussed AI's impact on the software market with CNBC's Sara Eisen, offering his perspective on how AI is reshaping the technology landscape.<ref>{{cite web |title=CNBC: Orlando Bravo on AI at the World Economic Forum |url=https://www.thomabravo.com/news-awards/cnbc-orlando-bravo-on-ai-at-the-world-economic-forum |publisher=Thoma Bravo |date=2026-01 |access-date=2026-02-24}}</ref>
=== Views on AI and the Future of Software ===


In a January 2026 interview with ''Semafor'', Bravo discussed what he described as an AI bubble, stating that the bubble "won't easily be deflated by policymakers" and commenting on the "vibe-coding revolution" and its potential effects on software development and the broader technology industry.<ref>{{cite news |title='Wait for it to pop': Orlando Bravo on the AI bubble and vibe-coding revolution |url=https://www.semafor.com/article/01/27/2026/wait-for-it-to-pop-orlando-bravo-on-the-ai-bubble-and-vibe-coding-revolution |work=Semafor |date=2026-01-27 |access-date=2026-02-24}}</ref>
In the mid-2020s, Bravo became an increasingly prominent commentator on the relationship between artificial intelligence and enterprise software. Speaking at multiple public forums and in media appearances, he articulated a nuanced view: while AI valuations were in a bubble, the underlying enterprise software market remained fundamentally strong.


In February 2026, Bravo appeared on CNBC's ''Money Movers'', where he discussed the strength of high-quality software businesses and argued that AI enhances domain expertise rather than replacing it.<ref>{{cite web |title=CNBC Money Movers: Orlando Bravo on AI and the Enduring Strength of Software |url=https://www.thomabravo.com/news-awards/cnbc-money-movers-orlando-bravo-on-ai-and-the-enduring-strength-of-software |publisher=Thoma Bravo |date=2026-02 |access-date=2026-02-24}}</ref> In the same appearance, he stated that most publicly traded software companies "don't have enough profit" and described software stocks as oversold.<ref>{{cite news |title=Tech investor Orlando Bravo says most software companies don't have enough profit |url=https://www.cnbc.com/2026/02/11/tech-investor-orlando-bravo-software-ai.html |work=CNBC |date=2026-02-11 |access-date=2026-02-24}}</ref>
At the [[World Economic Forum]] in Davos in January 2026, Bravo discussed AI's impact on the software market with CNBC, offering his perspective on how the technology was reshaping the industry.<ref>{{cite web |title=CNBC: Orlando Bravo on AI at the World Economic Forum |url=https://www.thomabravo.com/news-awards/cnbc-orlando-bravo-on-ai-at-the-world-economic-forum |publisher=Thoma Bravo |access-date=2026-02-24}}</ref>


Bravo also participated in a conversation with IBM CEO Arvind Krishna, published by Thoma Bravo, discussing AI, the future of software, and IBM's $34 billion acquisition of Red Hat.<ref>{{cite web |title=Orlando Bravo and IBM CEO Arvind Krishna on AI, the Future of Software, and IBM's $34B Red Hat Deal |url=https://www.thomabravo.com/behind-the-deal/orlando-bravo-and-ibm-ceo-arvind-krishna-on-ai-the-future-of-software-and-ibms-34b-red-hat-deal |publisher=Thoma Bravo |date=2026-02 |access-date=2026-02-24}}</ref>
In a January 2026 interview with ''Semafor'', Bravo discussed what he termed "the AI bubble and vibe-coding revolution," arguing that the AI bubble would not be easily deflated by policymakers and advising investors to "wait for it to pop."<ref>{{cite news |title='Wait for it to pop': Orlando Bravo on the AI bubble and vibe-coding revolution |url=https://www.semafor.com/article/01/27/2026/wait-for-it-to-pop-orlando-bravo-on-the-ai-bubble-and-vibe-coding-revolution |work=Semafor |access-date=2026-02-24}}</ref>


At a SaaStr conference in late 2025, Bravo described the software market as benefiting from a "$1.5 trillion software tailwind," while maintaining that AI valuations were in a bubble even as enterprise software itself remained strong. He noted: "I've been working the hardest I've ever worked in 30 years of being in private equity. It's extremely exciting, but it's changing very rapidly."<ref>{{cite web |title=The $1.5 Trillion Software Tailwind: Why Thoma Bravo's Orlando Bravo Says AI Valuations Are in a Bubble — But Enterprise Software Isn't |url=https://www.saastr.com/the-1-5-trillion-software-tailwind-why-thoma-bravos-orlando-bravo-says-ai-valuations-are-in-a-bubble-but-enterprise-software-isnt/ |publisher=SaaStr |date=2025-10-08 |access-date=2026-02-24}}</ref>
In February 2026, Bravo appeared on CNBC's ''Money Movers'', where he discussed the enduring strength of high-quality software businesses and how AI enhances domain expertise rather than replacing it.<ref>{{cite web |title=CNBC Money Movers: Orlando Bravo on AI and the Enduring Strength of Software |url=https://www.thomabravo.com/news-awards/cnbc-money-movers-orlando-bravo-on-ai-and-the-enduring-strength-of-software |publisher=Thoma Bravo |access-date=2026-02-24}}</ref> In the same appearance, he stated that most publicly traded software companies "don't have enough profit," suggesting that the software sector was oversold and presented opportunities for investors with operational expertise.<ref>{{cite news |date=2026-02-11 |title=Tech investor Orlando Bravo says most software companies don't have enough profit |url=https://www.cnbc.com/2026/02/11/tech-investor-orlando-bravo-software-ai.html |work=CNBC |access-date=2026-02-24}}</ref>


=== Investment Philosophy ===
Bravo also engaged in a public conversation with IBM CEO Arvind Krishna, discussing AI, the future of software, and IBM's $34 billion acquisition of Red Hat, in a session published through Thoma Bravo's podcast and media platform.<ref>{{cite web |title=Orlando Bravo and IBM CEO Arvind Krishna on AI, the Future of Software, and IBM's $34B Red Hat Deal |url=https://www.thomabravo.com/behind-the-deal/orlando-bravo-and-ibm-ceo-arvind-krishna-on-ai-the-future-of-software-and-ibms-34b-red-hat-deal |publisher=Thoma Bravo |access-date=2026-02-24}}</ref>


Bravo's investment philosophy has been characterized by several consistent principles throughout his career. The firm's core strategy involves acquiring software companies with strong market positions but suboptimal operations, then applying a standardized operational playbook to increase margins and accelerate growth.<ref name="bloomberg-reboot" /> This approach frequently involves improving sales efficiency, rationalizing costs, transitioning customers from perpetual licenses to subscription-based models, and pursuing strategic add-on acquisitions to build scale.
At the 2025 SaaStr Annual conference, Bravo described the software market as benefiting from a "$1.5 trillion software tailwind," while simultaneously cautioning that AI valuations specifically were in bubble territory. He noted, "I've been working the hardest I've ever worked in 30 years of being in private equity. It's extremely exciting, but it's changing very rapidly."<ref>{{cite web |title=The $1.5 Trillion Software Tailwind: Why Thoma Bravo's Orlando Bravo Says AI Valuations Are in a Bubble — But Enterprise Software Isn't |url=https://www.saastr.com/the-1-5-trillion-software-tailwind-why-thoma-bravos-orlando-bravo-says-ai-valuations-are-in-a-bubble-but-enterprise-software-isnt/ |publisher=SaaStr |date=2025-10-08 |access-date=2026-02-24}}</ref>


Speaking at Stanford in 2025, Bravo emphasized the importance of "taking the right risks" in private equity, drawing on lessons from his early career failures to illustrate how risk management and deal discipline had become central to Thoma Bravo's approach.<ref name="stanford-gsb" /> He has also spoken publicly about the role of leverage in software buyouts, noting the stability and predictability of recurring software revenue as a factor that supports debt financing.<ref>{{cite news |title=Thoma Bravo co-founder talks debt and that giant new fund |url=https://web.archive.org/web/20160915134751/http://fortune.com/2016/09/14/thoma-bravo-co-founder-talks-debt-and-that-giant-new-fund/ |work=Fortune |date=2016-09-14 |access-date=2026-02-24}}</ref>
In a November 2025 appearance at Stanford Graduate School of Business, Bravo reflected on his career trajectory, discussing the importance of risk-taking in private equity and the lessons learned from his early failures, including deals that produced total losses. He emphasized that the ability to take calculated risks and learn from setbacks was central to his investment philosophy.<ref name="stanfordgsb" />


== Personal Life ==
== Personal Life ==


Orlando Bravo is married to Katy Bravo, and the couple has four children. He has maintained connections to Puerto Rico throughout his career and has spoken publicly about his identity as a Puerto Rican businessman.<ref name="elnuevodia" />
Orlando Bravo is married to Katy Bravo. The couple has four children.<ref>{{cite web |title=Orlando Bravo |url=https://www.forbes.com/profile/orlando-bravo/ |publisher=Forbes |access-date=2026-02-24}}</ref> Bravo has maintained connections to Puerto Rico throughout his career, and his status as the first Puerto Rican-born billionaire on the Forbes 400 list generated significant attention in Puerto Rican media and among the Puerto Rican diaspora.<ref name="elnuevodia" />


In 2019, Bravo made a $25 million donation to Brown University, his undergraduate alma mater, to fund research on economic disparities. The gift established a program aimed at studying the causes and consequences of inequality, reflecting Bravo's interest in issues affecting communities like Puerto Rico.<ref name="brown-gift" />
Bravo's philanthropic activities have focused in particular on addressing economic inequality and supporting educational institutions. In April 2019, he donated $25 million to Brown University, his undergraduate alma mater, to fund the study of economic disparities. The gift was one of the largest in Brown's history at the time and was directed toward research on the structural causes and consequences of economic inequality.<ref name="brown" /> The donation reflected Bravo's stated interest in understanding and addressing the economic challenges facing communities like those in Puerto Rico, where disparities in wealth and opportunity have been longstanding issues.
 
Bravo has been profiled in Spanish-language media, including ''El Nuevo Día'', Puerto Rico's leading newspaper, which described him as attentive to economic developments on the island.<ref name="elnuevodia" />


== Recognition ==
== Recognition ==


In 2019, Orlando Bravo was listed on the ''Forbes'' 400, the magazine's annual ranking of the wealthiest Americans. He debuted at number 287, and ''Forbes'' noted that he was the first Puerto Rican-born individual to appear on the list.<ref>{{cite web |title=Orlando Bravo |url=https://www.forbes.com/profile/orlando-bravo/ |publisher=Forbes |access-date=2026-02-24}}</ref>
Bravo's most widely noted public recognition came in 2019, when he debuted on the ''Forbes'' 400 list of the wealthiest Americans at No. 287, becoming the first person born in Puerto Rico to appear on the list.<ref>{{cite web |title=Orlando Bravo |url=https://www.forbes.com/profile/orlando-bravo/ |publisher=Forbes |access-date=2026-02-24}}</ref> The milestone was covered extensively in Puerto Rican and mainland American media, with ''El Nuevo Día'', Puerto Rico's largest newspaper, profiling him as a figure of significance for the island's economic narrative.<ref name="elnuevodia" />


Bravo and Thoma Bravo have been the subject of extensive coverage in major financial publications, including ''Bloomberg'', the ''Financial Times'', ''Fortune'', ''Crain's Chicago Business'', and ''PitchBook'', among others. The firm's consistent focus on software buyouts and its record of operational improvement have been cited as factors in its rise to prominence within the private equity industry.<ref name="bloomberg-reboot" /><ref name="chicagobusiness" />
Within the private equity and technology industries, Bravo has been recognized as one of the most influential figures in software investing. ''PitchBook'' highlighted Thoma Bravo's rapid ascent under his leadership as a defining story in the private equity sector.<ref name="pitchbook" /> ''Bloomberg'' and ''Crain's Chicago Business'' have profiled his investment approach and its results.<ref name="bloomberg2015" /><ref name="crains" />


Bravo has been a frequent speaker at major industry conferences and events, including the World Economic Forum in Davos, SaaStr conferences, and appearances on CNBC and other financial media outlets. His commentary on the software industry, artificial intelligence, and private equity strategy has positioned him as a prominent voice in technology investing.
Bravo has also been a frequent speaker and commentator at major industry and economic forums, including the World Economic Forum in Davos, SaaStr Annual, and Stanford Graduate School of Business events, where he has discussed topics ranging from private equity strategy to the impact of artificial intelligence on the software industry.


== Legacy ==
== Legacy ==


Orlando Bravo's career is closely associated with the development of software-focused private equity as a distinct investment category. When he joined the firm that became Thoma Bravo in the late 1990s, the idea of a private equity firm specializing exclusively in software acquisitions was unconventional. Over the subsequent decades, Bravo helped build Thoma Bravo into one of the largest and most active acquirers of software companies globally, and the firm's model of operational improvement in the software sector has been widely emulated by other private equity firms.
Orlando Bravo's career has been closely intertwined with the transformation of enterprise software investing within private equity. When he began focusing on software buyouts in the late 1990s and early 2000s, the sector was not a primary target for most private equity firms. Through Thoma Bravo, he helped establish software as one of the most sought-after asset classes in the private equity world, pioneering an operational playbook that emphasized margin improvement, product rationalization, and pricing optimization in acquired software companies.


The firm's track record under Bravo's leadership has demonstrated the scalability of the software buyout model. By focusing on recurring revenue businesses with strong market positions, Thoma Bravo has executed a high volume of transactions across multiple fund cycles, building a portfolio that spans cybersecurity, financial technology, healthcare IT, and other software sub-sectors.<ref name="bloomberg-reboot" /><ref>{{cite news |title=Investor Spotlight: The Rapid Rise of Thoma Bravo |url=https://web.archive.org/web/20170813230712/https://pitchbook.com/news/articles/investor-spotlight-the-rapid-rise-of-thoma-bravo |work=PitchBook |access-date=2026-02-24}}</ref>
The firm's approach under Bravo's leadership influenced the broader private equity industry, as other firms increasingly adopted similar strategies for technology investing. The growth of Thoma Bravo from a mid-market firm to one of the largest buyout operations in the world reflected both the expansion of the enterprise software market and the effectiveness of the operational approach Bravo championed.


Bravo's status as the first Puerto Rican-born individual to appear on the ''Forbes'' 400 has also been noted as a milestone in the representation of Latino and Puerto Rican professionals in the upper echelons of American finance.<ref name="brown-gift" /> His philanthropic contributions to Brown University and his public engagement with issues of economic inequality reflect an ongoing connection to his roots and an interest in addressing structural disparities.
Bravo's significance extends beyond finance. As the first Puerto Rican-born person to reach billionaire status on the ''Forbes'' 400, he has served as a reference point in discussions about economic achievement and representation among Latino and Caribbean-origin communities in American business. His philanthropic contributions to Brown University for the study of economic disparities further linked his personal success to broader questions about economic opportunity and inequality.


As the software industry continues to evolve with the rise of artificial intelligence, Bravo has positioned himself and Thoma Bravo at the center of debates about the future of enterprise technology. His public commentary on AI valuations, the "vibe-coding revolution," and the enduring value of domain-specific software businesses suggests that he intends to remain an active participant in shaping the industry's direction.
His public commentary on the relationship between AI and enterprise software in 2025 and 2026 has positioned him as one of the more closely watched voices in the technology investment community, particularly as the industry navigates the implications of generative AI for traditional software business models.


== References ==
== References ==
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Latest revision as of 05:24, 24 February 2026


Orlando Bravo
BornTemplate:Birth year and age
BirthplaceMayagüez, Puerto Rico
NationalityPuerto Rican
OccupationPrivate equity investor, businessman
Known forCo-founder and managing partner of Thoma Bravo
EducationStanford Graduate School of Business (MBA)
Stanford Law School (JD)
Spouse(s)Katy Bravo
Children4
AwardsForbes 400 (first Puerto Rican-born billionaire, 2019)

Orlando Bravo (born 1970) is a Puerto Rican billionaire businessman, private equity investor, and the co-founder and managing partner of Thoma Bravo, one of the largest private equity firms in the world specializing in enterprise software and technology-enabled services. Born in Mayagüez, Puerto Rico, Bravo built his career around a focused investment thesis: acquiring software companies, improving their operational efficiency and profit margins, and generating returns through disciplined management. Under his leadership, Thoma Bravo has grown from a mid-market buyout firm into a technology-focused private equity powerhouse managing tens of billions of dollars in assets. In 2019, the Forbes 400 list recognized Bravo as the first Puerto Rican-born billionaire, with his debut at No. 287 on the list.[1] Beyond his investment activities, Bravo has been a significant philanthropist, notably donating $25 million to Brown University to study economic disparities. In recent years, he has become a prominent voice on the intersection of artificial intelligence and enterprise software, speaking at forums including the World Economic Forum in Davos about the transformative potential of AI in the software industry.[2]

Early Life

Orlando Bravo was born in 1970 in Mayagüez, a city on the western coast of Puerto Rico.[3] He grew up on the island during a period of significant economic transition for Puerto Rico. Bravo has maintained ties to his birthplace throughout his career, expressing interest in the economic development of Puerto Rico and the broader challenges facing the island's economy.[3]

Bravo's upbringing in Puerto Rico shaped his later philanthropic interests, particularly his focus on economic inequality and the disparities that affect communities in the Caribbean and Latin America. His path from Mayagüez to the upper echelons of American finance represented an unusual trajectory in the private equity industry, which has historically been dominated by investors from the mainland United States.

Education

Bravo attended Brown University for his undergraduate studies, where he developed interests that would later inform both his career and his philanthropic endeavors.[4] He subsequently pursued a joint JD/MBA degree at Stanford Law School and the Stanford Graduate School of Business, completing his dual degree in 1997.[5] The combination of legal and business training proved instrumental to his later career in private equity, where deal structuring and operational expertise are both essential components of successful investing. Bravo's time at Stanford coincided with the early stages of the technology boom in Silicon Valley, exposing him to the software and technology sectors that would become the central focus of his investment career.

Career

Early Career and Joining Thoma Bravo

After completing his joint degree at Stanford in 1997, Bravo entered the private equity industry. He joined the firm that would become Thoma Bravo, beginning his career in technology-focused buyouts at a time when the sector was still considered niche within private equity. Bravo had just turned 30 when, after three unsuccessful deals — including one that "went to zero" — he began to refine the investment approach that would define his career.[5] These early setbacks proved formative, teaching Bravo the importance of operational discipline and the risks inherent in technology investing.

The firm traces its origins to Carl Thoma and his partners, who had been active in the buyout business since the 1980s. Bravo's arrival marked a strategic pivot toward technology and software investments. In 2005, the firm completed the acquisition of Prophet 21, a distribution management software company, taking the company private in a management buyout.[6] This deal exemplified the type of transaction that would become Thoma Bravo's signature: acquiring enterprise software companies and working to improve their operations and profitability.

In February 2007, the firm formally reorganized and rebranded, with Bravo becoming a named partner. The entity was restructured as Thoma Cressey Bravo, later simplified to Thoma Bravo, reflecting Bravo's growing influence and leadership within the organization.[7]

Building a Software-Focused Investment Strategy

Bravo developed a distinctive investment thesis centered on enterprise software companies. His approach involved identifying software businesses — often publicly traded companies or divisions of larger corporations — that had strong market positions but underperformed on operational metrics such as profit margins and revenue growth. After acquisition, Thoma Bravo would implement rigorous operational improvements, frequently transforming the financial profile of these companies before exiting the investments.

A 2015 Bloomberg report detailed how Bravo and Thoma Bravo's strategy of "rebooting software slowpokes" had yielded significant returns for the firm and its investors. The article described the firm's systematic approach to identifying software companies that could benefit from operational restructuring and margin improvement.[8]

A 2014 profile in Crain's Chicago Business described Bravo as a key figure in putting Thoma Bravo on the "high-tech map" within private equity, highlighting his role as the firm's central dealmaker and strategic driver. The article characterized Bravo's approach as combining deep sector knowledge with aggressive operational management of portfolio companies.[9]

Among the firm's notable transactions under Bravo's leadership was the acquisition and subsequent sale of Deltek, a provider of enterprise software for project-based businesses. In 2016, Deltek was sold to Roper Technologies, representing a significant exit for Thoma Bravo and underscoring the firm's ability to build value in enterprise software companies over its holding periods.[10]

Growth of Thoma Bravo

Under Bravo's leadership as managing partner, Thoma Bravo experienced substantial growth in assets under management. The firm closed a $7.6 billion fund targeting software and technology sectors, marking one of the largest dedicated technology buyout funds in the industry at the time.[11]

In a 2016 interview with Fortune, Bravo discussed the firm's approach to leverage and deal structuring, explaining how Thoma Bravo used debt strategically in its acquisitions while maintaining a focus on the underlying operational performance of its portfolio companies.[12]

A 2017 report by PitchBook chronicled what it described as "the rapid rise of Thoma Bravo," noting the firm's emergence as one of the most active and successful technology-focused private equity investors in the world. The report highlighted the firm's consistent deal flow and its ability to generate returns through a repeatable playbook of operational improvement in software companies.[13]

The Financial Times also profiled the firm's growing influence in 2017, noting Thoma Bravo's position within the broader landscape of technology-focused private equity.[14]

By the mid-2020s, Thoma Bravo had completed hundreds of acquisitions with a combined enterprise value exceeding hundreds of billions of dollars, making it one of the largest private equity firms globally by deal volume in the software sector. Bravo's 30-year tenure in private equity encompassed significant shifts in the technology landscape, from the early days of enterprise software through the rise of cloud computing and software-as-a-service (SaaS) models.

Views on AI and the Future of Software

In the mid-2020s, Bravo became an increasingly prominent commentator on the relationship between artificial intelligence and enterprise software. Speaking at multiple public forums and in media appearances, he articulated a nuanced view: while AI valuations were in a bubble, the underlying enterprise software market remained fundamentally strong.

At the World Economic Forum in Davos in January 2026, Bravo discussed AI's impact on the software market with CNBC, offering his perspective on how the technology was reshaping the industry.[15]

In a January 2026 interview with Semafor, Bravo discussed what he termed "the AI bubble and vibe-coding revolution," arguing that the AI bubble would not be easily deflated by policymakers and advising investors to "wait for it to pop."[16]

In February 2026, Bravo appeared on CNBC's Money Movers, where he discussed the enduring strength of high-quality software businesses and how AI enhances domain expertise rather than replacing it.[17] In the same appearance, he stated that most publicly traded software companies "don't have enough profit," suggesting that the software sector was oversold and presented opportunities for investors with operational expertise.[18]

Bravo also engaged in a public conversation with IBM CEO Arvind Krishna, discussing AI, the future of software, and IBM's $34 billion acquisition of Red Hat, in a session published through Thoma Bravo's podcast and media platform.[19]

At the 2025 SaaStr Annual conference, Bravo described the software market as benefiting from a "$1.5 trillion software tailwind," while simultaneously cautioning that AI valuations specifically were in bubble territory. He noted, "I've been working the hardest I've ever worked in 30 years of being in private equity. It's extremely exciting, but it's changing very rapidly."[20]

In a November 2025 appearance at Stanford Graduate School of Business, Bravo reflected on his career trajectory, discussing the importance of risk-taking in private equity and the lessons learned from his early failures, including deals that produced total losses. He emphasized that the ability to take calculated risks and learn from setbacks was central to his investment philosophy.[5]

Personal Life

Orlando Bravo is married to Katy Bravo. The couple has four children.[21] Bravo has maintained connections to Puerto Rico throughout his career, and his status as the first Puerto Rican-born billionaire on the Forbes 400 list generated significant attention in Puerto Rican media and among the Puerto Rican diaspora.[3]

Bravo's philanthropic activities have focused in particular on addressing economic inequality and supporting educational institutions. In April 2019, he donated $25 million to Brown University, his undergraduate alma mater, to fund the study of economic disparities. The gift was one of the largest in Brown's history at the time and was directed toward research on the structural causes and consequences of economic inequality.[4] The donation reflected Bravo's stated interest in understanding and addressing the economic challenges facing communities like those in Puerto Rico, where disparities in wealth and opportunity have been longstanding issues.

Recognition

Bravo's most widely noted public recognition came in 2019, when he debuted on the Forbes 400 list of the wealthiest Americans at No. 287, becoming the first person born in Puerto Rico to appear on the list.[22] The milestone was covered extensively in Puerto Rican and mainland American media, with El Nuevo Día, Puerto Rico's largest newspaper, profiling him as a figure of significance for the island's economic narrative.[3]

Within the private equity and technology industries, Bravo has been recognized as one of the most influential figures in software investing. PitchBook highlighted Thoma Bravo's rapid ascent under his leadership as a defining story in the private equity sector.[13] Bloomberg and Crain's Chicago Business have profiled his investment approach and its results.[8][9]

Bravo has also been a frequent speaker and commentator at major industry and economic forums, including the World Economic Forum in Davos, SaaStr Annual, and Stanford Graduate School of Business events, where he has discussed topics ranging from private equity strategy to the impact of artificial intelligence on the software industry.

Legacy

Orlando Bravo's career has been closely intertwined with the transformation of enterprise software investing within private equity. When he began focusing on software buyouts in the late 1990s and early 2000s, the sector was not a primary target for most private equity firms. Through Thoma Bravo, he helped establish software as one of the most sought-after asset classes in the private equity world, pioneering an operational playbook that emphasized margin improvement, product rationalization, and pricing optimization in acquired software companies.

The firm's approach under Bravo's leadership influenced the broader private equity industry, as other firms increasingly adopted similar strategies for technology investing. The growth of Thoma Bravo from a mid-market firm to one of the largest buyout operations in the world reflected both the expansion of the enterprise software market and the effectiveness of the operational approach Bravo championed.

Bravo's significance extends beyond finance. As the first Puerto Rican-born person to reach billionaire status on the Forbes 400, he has served as a reference point in discussions about economic achievement and representation among Latino and Caribbean-origin communities in American business. His philanthropic contributions to Brown University for the study of economic disparities further linked his personal success to broader questions about economic opportunity and inequality.

His public commentary on the relationship between AI and enterprise software in 2025 and 2026 has positioned him as one of the more closely watched voices in the technology investment community, particularly as the industry navigates the implications of generative AI for traditional software business models.

References

  1. ↑ "Orlando Bravo".Forbes.https://www.forbes.com/profile/orlando-bravo/.Retrieved 2026-02-24.
  2. ↑ "CNBC: Orlando Bravo on AI at the World Economic Forum".Thoma Bravo.https://www.thomabravo.com/news-awards/cnbc-orlando-bravo-on-ai-at-the-world-economic-forum.Retrieved 2026-02-24.
  3. ↑ 3.0 3.1 3.2 3.3 "Mago de las inversiones pendiente a la isla".El Nuevo Día.https://web.archive.org/web/20220305181554/https://www.elnuevodia.com/negocios/economia/notas/mago-de-las-inversiones-pendiente-a-la-isla/.Retrieved 2026-02-24.
  4. ↑ 4.0 4.1 "Puerto Rican alum gives Brown $25M to study economic disparities".Providence Journal.2019-04-17.https://www.providencejournal.com/news/20190417/puerto-rican-alum-gives-brown-25m-to-study-economic-disparities.Retrieved 2026-02-24.
  5. ↑ 5.0 5.1 5.2 "Orlando Bravo Talks Private Equity and Taking the Right Risks".Stanford Graduate School of Business.2025-11-19.https://www.gsb.stanford.edu/insights/orlando-bravo-talks-private-equity-taking-right-risks.Retrieved 2026-02-24.
  6. ↑ "Management buyout to take Prophet 21 private".MDM.https://www.mdm.com/articles/1631-Management-buyout-to-take-Prophet-21-private.Retrieved 2026-02-24.
  7. ↑ "Thoma Cressey Equity Partners becomes Thoma Cressey Bravo".Business Wire.2007-02-15.http://www.businesswire.com/news/home/20070215005277/en/Thoma-Cressey-Equity-Partners-Thoma-Cressey-Bravo.Retrieved 2026-02-24.
  8. ↑ 8.0 8.1 "Rebooting Software Slowpokes Yields Riches for Two Buyout Firms".Bloomberg.2015-11-03.https://web.archive.org/web/20151106023823/https://www.bloomberg.com/news/articles/2015-11-03/rebooting-software-slowpokes-yields-riches-for-two-buyout-firms.Retrieved 2026-02-24.
  9. ↑ 9.0 9.1 "Orlando Bravo puts private equity's Thoma Bravo on high-tech map".Crain's Chicago Business.https://web.archive.org/web/20180804044436/https://www.chicagobusiness.com/article/20140524/ISSUE01/305249982/orlando-bravo-puts-private-equity-s-thoma-bravo-on-high-tech-map.Retrieved 2026-02-24.
  10. ↑ "Deltek sale to Roper".Washington Technology.https://washingtontechnology.com/blogs/editors-notebook/2016/12/deltek-sale-to-roper.aspx.Retrieved 2026-02-24.
  11. ↑ "Private equity firm Thoma Bravo closes $7.6 billion fund to target software and tech sectors".American Inno.https://www.americaninno.com/chicago/private-equity-firm-thoma-bravo-closes-7-6-billion-fund-to-target-software-and-tech-sectors/.Retrieved 2026-02-24.
  12. ↑ "Thoma Bravo Co-Founder Talks Debt and That Giant New Fund".Fortune.2016-09-14.https://web.archive.org/web/20160915134751/http://fortune.com/2016/09/14/thoma-bravo-co-founder-talks-debt-and-that-giant-new-fund/.Retrieved 2026-02-24.
  13. ↑ 13.0 13.1 "Investor spotlight: The rapid rise of Thoma Bravo".PitchBook.https://web.archive.org/web/20170813230712/https://pitchbook.com/news/articles/investor-spotlight-the-rapid-rise-of-thoma-bravo.Retrieved 2026-02-24.
  14. ↑ "Thoma Bravo profile".Financial Times.https://www.ft.com/content/0a51ff50-0d59-11e7-a88c-50ba212dce4d.Retrieved 2026-02-24.
  15. ↑ "CNBC: Orlando Bravo on AI at the World Economic Forum".Thoma Bravo.https://www.thomabravo.com/news-awards/cnbc-orlando-bravo-on-ai-at-the-world-economic-forum.Retrieved 2026-02-24.
  16. ↑ "'Wait for it to pop': Orlando Bravo on the AI bubble and vibe-coding revolution".Semafor.https://www.semafor.com/article/01/27/2026/wait-for-it-to-pop-orlando-bravo-on-the-ai-bubble-and-vibe-coding-revolution.Retrieved 2026-02-24.
  17. ↑ "CNBC Money Movers: Orlando Bravo on AI and the Enduring Strength of Software".Thoma Bravo.https://www.thomabravo.com/news-awards/cnbc-money-movers-orlando-bravo-on-ai-and-the-enduring-strength-of-software.Retrieved 2026-02-24.
  18. ↑ "Tech investor Orlando Bravo says most software companies don't have enough profit".CNBC.2026-02-11.https://www.cnbc.com/2026/02/11/tech-investor-orlando-bravo-software-ai.html.Retrieved 2026-02-24.
  19. ↑ "Orlando Bravo and IBM CEO Arvind Krishna on AI, the Future of Software, and IBM's $34B Red Hat Deal".Thoma Bravo.https://www.thomabravo.com/behind-the-deal/orlando-bravo-and-ibm-ceo-arvind-krishna-on-ai-the-future-of-software-and-ibms-34b-red-hat-deal.Retrieved 2026-02-24.
  20. ↑ "The $1.5 Trillion Software Tailwind: Why Thoma Bravo's Orlando Bravo Says AI Valuations Are in a Bubble — But Enterprise Software Isn't".SaaStr.2025-10-08.https://www.saastr.com/the-1-5-trillion-software-tailwind-why-thoma-bravos-orlando-bravo-says-ai-valuations-are-in-a-bubble-but-enterprise-software-isnt/.Retrieved 2026-02-24.
  21. ↑ "Orlando Bravo".Forbes.https://www.forbes.com/profile/orlando-bravo/.Retrieved 2026-02-24.
  22. ↑ "Orlando Bravo".Forbes.https://www.forbes.com/profile/orlando-bravo/.Retrieved 2026-02-24.

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