Orlando Bravo Calls SaaSpocalyse Over as Private Equity Activity Stalls

*Thoma Bravo's co-founder says smaller software companies now compete for attention against a handful of large IPOs.*

Orlando Bravo, co-founder and managing partner at Thoma Bravo, stated at the SuperReturn conference in Berlin that the “SaaSpocalyse” has finished. He made the remark during an interview with Dani Burger.

The comment came against a backdrop of slower private-equity deal flow. Bravo described current conditions as “pretty stuck” for many firms.

Smaller players lose ground

Bravo noted that mega IPOs are drawing the bulk of investor focus. As a result, smaller software companies struggle to gain comparable attention from limited partners and buyers.

He contrasted the present environment with earlier periods when a wider range of software transactions moved at a steadier pace. No specific transaction counts or valuation figures were provided in the remarks.

Conference setting

The exchange occurred at SuperReturn, an annual gathering of private-equity professionals held this year in Berlin. Bloomberg Technology recorded the session on video.

Bravo’s firm, Thoma Bravo, has historically concentrated on software investments. His assessment therefore carries weight within that segment of the market.

Outlook for software deals

The assertion that the SaaSpocalyse has ended implies a return to more normal conditions for established software assets. At the same time, the observation about slower overall activity suggests that volume has not yet recovered across the board.

Whether the largest IPOs continue to crowd out smaller opportunities will depend on market reception in the months ahead. Bravo did not forecast specific timelines.

---

Sources:

• Bloomberg Technology

{
  "excerpt": "Thoma Bravo's Orlando Bravo says the SaaSpocalyse has ended while private equity deal flow remains slow and smaller firms lose attention to mega IPOs.",
  "suggestedSection": "business",
  "suggestedTags": ["private-equity", "software", "ipos"],
  "imagePrompt": "Rows of abstract rectangular blocks representing software assets sit in shadow while a few oversized vertical forms rise toward bright overhead light in a sparse hall. muted color palette, cinematic lighting, 16:9"
}