Key Takeaways
- • Orlando Bravo, founder and managing partner of Thoma Bravo, told Bloomberg's Dani Burger at SuperReturn International 2026 in Berlin that the 'SaaSpocalyse' is finished.
- • Bravo described slower deal activity across private equity, with smaller firms struggling for investor attention as mega IPOs absorb capital and focus.
- • Publisher context references Thoma Bravo's $34.4 billion fundraise, which Bravo attributed to consistently buying companies, per CNBC and other coverage.
- • Bravo advised software investors to continue taking less leverage and to earn returns by owning and operating companies.
Summary
Orlando Bravo, founder and managing partner of Thoma Bravo, said the 'SaaSpocalyse,' the sell-off narrative that weighed on software valuations, is finished. He made the remarks in a Bloomberg interview with Dani Burger at SuperReturn International 2026 in Berlin, dated June 10, 2026.
Bravo said private equity deal activity has slowed and that smaller firms are struggling to win attention as large IPOs draw investor interest. His comments on software IPOs and the broader exit environment reflect a market in which capital is concentrating in a small number of large offerings.
Other coverage of the conference adds detail on Thoma Bravo's fundraising. According to a Bloomberg report, Bravo said Wednesday that the firm's $34.4 billion fundraise reflects a consistent strategy of buying companies. CNBC also interviewed Bravo live from Berlin about the raise and the mega IPO pipeline.
On portfolio strategy, Bravo urged software investors to continue taking less leverage and to focus on generating returns through owning and operating companies. He also described the opportunity to transform a billion-dollar software company as larger than it has ever been, particularly with artificial intelligence investment opportunities.
Bravo said private equity deal activity has slowed and that smaller firms are struggling to win attention as large IPOs draw investor interest. His comments on software IPOs and the broader exit environment reflect a market in which capital is concentrating in a small number of large offerings.
Other coverage of the conference adds detail on Thoma Bravo's fundraising. According to a Bloomberg report, Bravo said Wednesday that the firm's $34.4 billion fundraise reflects a consistent strategy of buying companies. CNBC also interviewed Bravo live from Berlin about the raise and the mega IPO pipeline.
On portfolio strategy, Bravo urged software investors to continue taking less leverage and to focus on generating returns through owning and operating companies. He also described the opportunity to transform a billion-dollar software company as larger than it has ever been, particularly with artificial intelligence investment opportunities.
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