Bravo’s success stems from a lean, outward-facing team structure and a long-term approach to fundraising and value creation. Thoma Bravo shifted focus to software buyouts early, adapting to market changes and AI disruption by refining underwriting practices. The firm targets high-potential companies, exemplified by the $10.5 billion acquisition of Boeing’s avionics unit, executed with a small team. Post-acquisition, their playbook emphasizes operational efficiency, leadership assessment, and margin growth through rigorous due diligence. Unlike typical PE stereotypes, they prioritize sustainable transformation over short-term gains. While the firm could go public, Bravo remains focused on investor loyalty and mentoring future leaders, underscoring his commitment to legacy over expansion. He also expresses support for Puerto Rico’s statehood as a path to greater opportunity.