As a managing partner investing in cybersecurity at Thoma Bravo, "diplomacy" in my world is usually limited to my interactions with business owners and executive teams. The goal is to create new investment opportunities and help our portfolio companies grow and serve their constituents.
But at the 2023 Milken Institute Global Conference in May, I participated in a cybersecurity panel discussion titled "Digital Defense and Diplomacy: Enhancing Global Cyber Coordination." When I was asked to participate in the Milken panel, I was concerned that I might be a bit of an outlier. In a group of specialists with extraordinary expertise in government and public sector cybersecurity, I was asked to represent the "voice of the private sector."
What Does a Private Equity Firm Have to Do With Cybersecurity?
Thoma Bravo has been investing in cybersecurity companies since 2009. We have a portfolio of cyber companies with an enterprise value close to $40 billion that generates a total annual revenue of $5.8 billion and employs more than 20,000 people (at end of 2022). My job is to help build great cybersecurity companies through equal parts innovation and business management to generate returns for those investors who trust us with their capital.
So, what could I lend to a conversation about the "high politics" of cyber conflict between countries and the dynamics of government policy involved in these critical discussions on defense, deterrence, and the like?
On the face of it, these seem like very different — and some may even argue incompatible — cultural contexts in which to talk about cybersecurity. However, in practice, the public and private sectors have quite a lot in common when it comes to the digital environment.
