Chicago-based private equity firm Thoma Bravo has closed its inaugural European fund, raising €1.8 billion (US$1.9 billion) to invest in midsized software companies across Europe.

The firm has been active in the region since acquiring French software company Infovista in 2011.

It has invested around €14 billion (US$14.73 billion) across 16 deals, including the €5.3 billion (US$5.58 billion) acquisition of UK-based cybersecurity firm Darktrace in 2024.

In 2023, Thoma Bravo opened its first European office in London to strengthen its regional presence.

The new fund will focus on investment opportunities driven by Europe’s ongoing digitization trends.

Partner and European lead Irina Hemmers said that the fund aims to support the growth strategies of European software companies.