Brian Jaffee, a private equity professional with prior roles at Merrill Lynch and Veritas, reflects on his path into Thoma Bravo. Conversation highlights quick early responsibility, building a dedicated software practice, and a culture rooted in mentorship and entrepreneurial spirit. Stories include cold outreach, intense deal work, and the relationships that shaped long-term performance.
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question_answer ANECDOTE
Cold Outreach That Landed A VP Role
Brian Jaffee cold-emailed AJ Rohde after Chicago Booth and got an immediate, human reply that delayed him three weeks before re-engaging.
That outreach led to a VP role during Fund XI fundraising and an interview in a compact Transamerica Pyramid office with a makeshift cubicle.
question_answer ANECDOTE
Joining A Small Firm With A Big Software Thesis
Holden Spaht joined in 2005 when the firm was Toma Cressy Equity Partners and worked in a small office on the 32nd floor of the Transamerica Pyramid.
He wanted a hands-on, entrepreneurial PE role and accepted because Orlando had a focused software thesis and gave junior people real responsibility early.
insights INSIGHT
Thesis Focus Beats Generalist Auction Tactics
A focused, repeatable investment process increases win rates versus competing in crowded, generalist auction processes.
Holden left generalist funds because he wanted direct line-of-sight accountability and a smaller, thesis-driven team.
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This week on Thoma Bravo's Beyond the Deal, the spotlight turns inward. Managing Partner Holden Spaht and Partner Brian Jaffee share their origin stories at Thoma Bravo — what the firm looked like in its early days, how responsibility comes fast, and why mentorship and entrepreneurialism sit at the center of the culture.
From cold outreach and the firm’s early focus on software to leading exits and mentoring the next generation, this episode offers an inside look at how performance is built — and sustained — over decades.
Disclaimer: This podcast is for informational purposes only and does not constitute an advertisement. Views expressed are those of the individuals and not necessarily the views of Thoma Bravo or its affiliates. Thoma Bravo funds generally hold interest in the companies discussed. This podcast should not be construed as an offer to solicit the purchase of any interest in any Thoma Bravo fund.
Certain statements about Thoma Bravo made by portfolio company executives are intended to illustrate Thoma Bravo's business relationship with such persons rather than Thoma Bravo's capabilities or expertise with respect to investment advisory services. Portfolio company executives were not compensated in connection with their podcast participation, although they generally received compensation and investment opportunities in connection with their portfolio company roles and in certain cases are also owners of portfolio company securities and or investors in Thoma Bravo funds. Such compensation and investments subject podcast participants to potential conflicts of interest. In addition, this podcast includes forward-looking statements. These statements are based on current expectations and assumptions and involve significant risks and uncertainties that could cause actual results to differ materially.
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