Early Life
Carl Thoma was born in October 1948. He grew up in the Oklahoma panhandle, instilling a strong work ethic that would later shape his career. He earned a BS in accounting and agricultural economics from Oklahoma State University and later an MBA from Stanford Graduate School of Business.
Rise to Success
Thoma's career began at Arizona-Colorado Land & Cattle Co. He then transitioned to private equity, working at First Chicago Equity Group. In 1980, he co-founded Golder Thoma & Co. with Stanley Golder, which later became GTCR. Thoma is credited with creating the "consolidation" or "buy and build" investment strategy. He co-founded Thoma Cressey in 1998 and later, along with Orlando Bravo, formed Thoma Bravo in 2008. Under his leadership, Thoma Bravo has become a major player, particularly in acquiring enterprise software companies. The firm has over $181 billion in assets under management as of September 30, 2025.
Key Business Strategies
Thoma Bravo's strategy focuses on investing in growth-oriented software and technology companies. The firm employs a 'buy and build' approach, collaborating with existing management teams to drive operational excellence and innovation. This strategy has led to numerous successful acquisitions and investments in the software sector, with a focus on applications, infrastructure, and cybersecurity.
Philanthropy
Carl and his wife, Marilynn, are actively involved in philanthropy. They founded the Carl & Marilynn Thoma Foundation in 2014. The foundation supports arts and education, offering art grants, scholarships, and fellowships. In 2024, they launched the Thoma Scholars program, which provides full-ride scholarships to students from rural areas.
