Thoma Bravo has deepened its backing of Qlik with a fresh equity commitment, as the Abu Dhabi Investment Authority (ADIA) joins as a significant new minority investor. 

The deal, originally signed in late 2024, has now closed following regulatory clearance and also includes co-investments from a select group of institutional LPs.

Thoma Bravo, which took Qlik private in 2016, remains the company’s majority shareholder. The capital injection will support Qlik’s continued global expansion and accelerate platform innovation across data integration, analytics, and artificial intelligence.

“Support from Thoma Bravo and a long-term investor like ADIA reinforces the strength of our strategy and the results we’re delivering,” said Mike Capone, CEO of Qlik. “This investment enables us to stay focused and scale that impact.”

Thoma Bravo Managing Partner Seth Boro added, “Qlik has consistently executed against one of the most important challenges facing modern enterprises: turning data and AI into real business outcomes.”

The announcement follows Qlik’s acquisition of Upsolver and the rollout of new agentic AI and conversational analytics capabilities. Positioned at the intersection of data governance and machine learning, Qlik is increasingly seen as a key enabler for enterprises seeking scalable, trusted AI solutions.

Advisors to the transaction included Guggenheim Securities and Kirkland & Ellis for Thoma Bravo and Qlik, while ADIA was advised by Evercore and Gibson, Dunn & Crutcher.