The big interview

August 27, 2025

Thoma Bravo: 'The exit routes for VCs are clearly changing'

The US PE firm hopes to close one more European deal before the end of the year


Freya Pratty

5 min read

Irina Hemmers. Photo: Thoma Bravo.

Last year, US private equity firm Thoma Bravo acquired London-listed cybersecurity giant Darktrace for $5.3bn, taking private one of European tech’s highest value software companies and dealing a blow to the London Stock Exchange in the process.

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Freya Pratty

Freya Pratty is a senior reporter and investigations lead at Sifted. Follow her on X , LinkedIn and Bluesky

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