There is common belief that investors are hoarding large sums of cash that may be used for either startup funding or acquisitions, depending on the final purpose of the company. Earlier today, Thoma Bravo, a private equity company, revealed that it had successfully secured $32.4 billion for investment in three buyout funds.

In all, the firm is allocating $24.3 billion to Thoma Bravo Fund XV, $6.2 billion to Thoma Bravo Discover Fund IV, and $1.8 billion to Thoma Bravo Explore Fund II. Money from a buyout is usually used to acquire an established business or to take a public one private.

The company spent $12 billion on the acquisition of Sailpoint in April, Ping Identification in August, and ForegRock in October of this year, all of which are established players in the identity industry. To add to that, in March, it paid nearly $11 billion to acquire Anaplan. For the most part, these are the types of ventures that the fresh capital will support.

Given the present economic scenario, Jennifer James, managing director, chief operating officer, and head of investor relations and marketing at Thoma Bravo, says the firm is really appreciative to have raised such a large sum of money. She released a statement in which she said, “We are energised by our investors’ tremendous support of the greatest fundraise in Thoma Bravo’s history, and of the largest tech fund ever funded.”

The business claims the money was provided by a wide variety of outside investors. This category incorporates not just private investors, but also public pension funds, multinational enterprises, insurance providers, fund-of-funds, endowments, foundations, and family offices.