A: It was obviously a mistake. And we have personally apologized to investors in our growth fund. It wasn’t a large investment—$100 million—but it was a big mistake and an embarrassing one. It wasn’t a diligence mistake. Diligence mistakes are when you miss a lawsuit, or you miss a trendline. This was a judgment mistake. I said even before the issues at FTX that we’re not going to make any more crypto investments, because I was not loving the business practices we’re seeing in crypto.
~ Orlando Bravo, co-founder of private equity firm Thoma Bravo (over $120 billion AUM), "He Might Be Tech’s Last Bull. Here’s Why the Founder of Thoma Bravo Is Still Buying.," Barron's, January 21, 2023
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