Orlando Bravo - The Art of Software Buyouts - [Invest Like the Best, EP. 257]

In this episode of Invest Like the Best, Patrick O'Shaughnessy interviews Orlando Bravo, co-founder of Thoma Bravo, a private equity firm managing over $90 billion in assets. Bravo discusses the software investment landscape, emphasizing the mismatch between capital availability and opportunities in private equity, particularly in tech-oriented markets. He highlights Thoma Bravo's investment philosophy, which focuses on partnering with existing management teams to improve company operations and growth, contrasting this with the common approach of prioritizing top-line revenue growth over profitability. Bravo shares insights on deal-making, the importance of market leadership, and the evolving nature of private equity funds, as well as his views on decentralization, Web3, and the importance of providing opportunities to talented individuals from diverse backgrounds.