PYMNTS.com September 5, 2024
Thoma Bravo Founder and Managing Partner Orlando Bravo said Thursday (Sept. 5) that while blockchain technology has promise, he and his firm are steering clear of companies and products in that space.
Bravo said this about three years after his private equity investment firm helped lead a $900 million investment in cryptocurrency exchange FTX, which later went bankrupt and whose founder, Sam Bankman-Fried, is now in prison, CNBC reported Thursday.
“Personally, I’m a believer in blockchain. I think it’s a powerful way of doing many things and for many use cases, and I’ve always believed that,” Bravo told CNBC’s “Squawk on the Street” Thursday. “From an investment standpoint, after you make a mistake, you kind of move on.”
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