Investments in cybersecurity firms have remained a top priority for many private equity firms, especially those specializing in technology deals.

Since 2017, the top 10 private equity firms in the cybersecurity space have completed 146 deals with a median deal size of over $541 million, according to PitchBook data.

The largest cybersecurity deals this year include the $14 billion take-private deal for security software company McAfee by an investor group led by Advent International and Permira; Liberty Strategic Capital's $525 million deal for Zimperium, a provider of mobile threat defense; and a $350 million deal for networking solutions provider Tripwire by IT management software developer HelpSystems via a long list of private equity financial sponsors including Charlesbank Capital Partners and Harvest Partners.

Since 2017, tech-focused Thoma Bravo has completed the most deals, followed by TA Associates and Insight Partners. Thoma Bravo is currently collecting commitments for its 15th flagship fund, which has a $22 billion target.

Vista Equity Partners, another firm on the top 10 list, also has an open mega-fund—defined as a vehicle of $5 billion or more—targeting between $20 billion and $24 billion for its eighth buyout fund. Further, TPG is targeting $15 billion for its ninth namesake fund.

Here are the most active investors by deal count since the start of 2017.

 
 

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