C arl Thoma is a pioneering American private equity investor, particularly known for his focus on the software industry. He is a co-founder and managing partner of Thoma Bravo, one of the largest and most successful software-focused private equity firms in the world. Thoma began his career in the 1970s and was an early proponent of the 'buy-and-build' investment strategy, where a platform company in a fragmented industry is used to acquire and integrate smaller competitors.

In the early 2000s, he and his partners astutely decided to focus their firm almost exclusively on investing in enterprise software companies. This decision proved to be incredibly lucrative, as Thoma Bravo became a dominant player in software buyouts, acquiring dozens of companies and creating immense value through operational improvements and strategic add-on acquisitions. The firm now manages tens of billions of dollars in assets, and its remarkable success has made Thoma one of the wealthiest figures in the private equity world. He is also a noted art collector and philanthropist.