GrowthCap ranked Thoma Bravo #1 on its list of The Top Private Equity Firms of 2025, the fifth year in row Thoma Bravo has been recognized in the top five.

This year’s selections highlight firms that have demonstrated a consistent ability to serve as exceptional partners to companies and their management teams as they scale and establish a more competitive market position. While financial performance is a consideration, the evaluation focuses more on a firm’s fundamental capabilities in creating or enhancing company value in a repeatable and predictable manner.

See the full list of winners and learn more about the selection criteria and methodology here.

* This ranking is the opinion of the third party conferring the ranking and should not be considered an endorsement of Thoma Bravo. GrowthCap issued the Top Private Equity Firms of 2025 list on August 20, 2025. The ranking was based upon the preceding 12-18 months. Thoma Bravo paid a publishing and copyright fee in connection with the ranking. In general, the receipt of compensation influences, and is likely to present a potential material conflict of interest, relating to any granted award or ranking. There can be no assurance that other providers or surveys would utilize the same criteria used to determine this ranking or reach the same conclusion.