Top Software Private Equity Firms

The U.S. is a global leader in software innovation, and behind many of the fastest-growing software companies are private equity firms providing capital, strategy, and operational expertise.

In this article, we highlight ten of the leading private equity firms investing in U.S.-based software and technology companies, exploring their investment strategies, standout deals, and focus on long-term value creation.

1. Thoma Bravo

Headquartered in Chicago, with offices in Miami and San Francisco, Thoma Bravo is one of the most influential private equity firms in the software sector. With over four decades of experience and more than $100 billion in software and technology acquisitions, the firm has helped shape the modern tech investment landscape.

Thoma Bravo is known for its buy-and-build strategy, acquiring platform companies and expanding them through strategic add-ons and operational improvements. Their approach emphasizes close collaboration with management teams to drive innovation, scalability, and long-term value creation.

2. Vista Equity Partners

Vista Equity Partners is known for its exclusive focus on enterprise software and data-driven technology companies. Based in Austin, Texas, the firm manages more than $81 billion in assets and takes a highly disciplined approach to investment and value creation.

Vista’s strategy combines deep industry expertise with proprietary operational tools to accelerate growth in its portfolio companies. The firm partners closely with management teams and uses its extensive network and internal best practices to streamline operations, improve performance, and drive innovation.

3. Francisco Partners

Francisco Partners, established in 1999 and headquartered in San Francisco, specializes in investments in technology companies navigating transformation or complexity. With over $7 billion in assets under management, the firm focuses on control investments in businesses experiencing significant shifts in strategy or operations.

Francisco Partners has completed more than 300 technology investments and has a strong reputation for working with founders and management teams to re-energize growth. Their typical targets include software, healthcare IT, and communications technology companies across North America.

4. Insight Partners

Founded in 1995 and headquartered in New York City, Insight Partners is a global software-focused private equity and venture capital firm. With more than $20 billion in assets under management, Insight backs both early-stage startups and rapidly scaling companies in sectors like SaaS, cybersecurity, and enterprise software.

Beyond capital, Insight provides hands-on operational support, go-to-market strategy, and access to an expansive network of industry experts. Investments in standout companies like Shopify and Monday.com highlight the firm’s commitment to long-term growth and building market leaders.

5. Battery Ventures

Battery Ventures has been investing in software and technology companies since 1983, operating out of offices in the U.S., Europe, and Israel. The firm manages over $6.9 billion and pursues both venture capital and private equity deals, with a focus on innovation and data-driven leadership.

Their portfolio includes investments across application software, infrastructure software, and vertical SaaS. Battery is known for partnering early with founders and staying engaged through multiple growth stages, helping companies scale globally.

6. KKR (Kohlberg Kravis Roberts)

While KKR is a diversified global private equity investment firm, it has made major moves in software through its technology-focused strategies. With over $638 billion in AUM, KKR invests in both early-stage and late-stage software companies through a mix of buyouts and growth equity.

KKR’s involvement in software includes platforms in cybersecurity, digital infrastructure, and cloud computing. Their approach emphasizes long-term partnerships, scalability, and operational excellence, often supported by their expansive portfolio and industry network.

7. Bain Capital

Bain Capital, founded in 1984 and headquartered in Boston, has deep roots in private equity and a strong presence in the software space. With approximately $105 billion in AUM, the firm has helped companies scale through transformative operational improvements and strategic acquisitions.

Their investments in enterprise technology, SaaS, and financial software companies have consistently created value for stakeholders. Bain’s global team of professionals brings data, talent, and capital together to foster innovation and long-term growth.

8. The Carlyle Group

Founded in 1987 and headquartered in Washington, D.C., The Carlyle Group is one of the world’s largest and most diversified global investment firms, with $447 billion in assets under management. Carlyle has a strong track record in enterprise software, investing across various sectors and stages of growth, with technology remaining a core area of focus.

The firm works closely with management teams to enhance operations, accelerate product development, and drive international expansion. With deep cross-sector knowledge and robust operational support, Carlyle is a strategic partner for software companies aiming to scale and lead in their categories.

9. TA Associates

TA Associates, located in Boston, focuses on growth equity and has been a reliable partner for software companies since 1968. With more than $43 billion under management, the firm invests in both minority and majority positions in companies with strong fundamentals.

TA's software portfolio spans vertical applications, B2B SaaS, and financial technology. Their collaborative approach and strategic insight enable their companies to accelerate organic growth and execute M&A strategies effectively.

10. Warburg Pincus

Warburg Pincus has a long-standing history in private equity, with a growing emphasis on software and technology platforms. With over $77 billion invested globally, the firm takes a thesis-driven approach to backing businesses that sit at the intersection of financial services and technology.

The firm’s integrated fintech investing practice combines insights from both the tech and finance worlds, allowing them to identify high-potential software companies and support their growth through capital and strategic partnership.

Let’s Recap

These top firms are shaping the future of software in the United States. Whether backing early-stage innovators or helping mature businesses scale, these firms provide capital, expertise, and strategic guidance to drive long-term success.

If you’re a founder or executive looking to grow your software company, finding the right investment partner is key. Platforms like Private Equity List make it easier to discover the most relevant private equity firms for your business goals.

Sign up for free at Private Equity List and start connecting with the right software investors today.

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