Cookies Policy

To provide you with a better experience, InvestPorto, in collaboration with a number of partners, uses cookies on this website, which allow the personalization of content and advertising that is shown to you.
By continuing to use our website without changing your settings, we assume that you accept the use of cookies. Change Settings

Accept selected cookies Accept all cookies

33N Ventures launches with €150m cybersecurity and infrastructure software fund

33N Ventures launches with €150m cybersecurity and infrastructure software fund
O Jornal Económico · 14 Oct 2022
Carlos Alberto Silva and Carlos Moreira da Silva have partnered with global asset management firm Alantra to launch a new venture capital investment manager, 33N Ventures (33N).

33N is currently fundraising a €150 million vehicle investing in cybersecurity and infrastructure software companies across Europe, Israel, and the US. The fund will mostly target investments at Series A and B, with an average ticket size of around €10 million, and has an investment capacity of €20 million already committed by Alantra and its Strategic Partners.

33N co-founders and managing partners Carlos Alberto Silva and Carlos Moreira da Silva have made more than 20 investments in cybersecurity and infrastructure software over the past 10 years, across Europe, Israel and the US - including most notably Arctic Wolf, the cybersecurity unicorn founded in 2012 by former Blue Coat Systems CEO Brian NeSmith. They have also completed several exits, including one to Thales and one to Qualcomm, both in 2022. Carlos and Carlos also have extensive operational experience in the sector, having grown one the largest independent European cybersecurity services groups - encompassing S21sec and Excellium - from 2014 onwards. They are joined by three colleagues - all of whom have worked with the pair for several years prior to joining 33N - to form a readymade team of five at launch.

"33N offers a unique pan-European and Israeli approach and is able to cover the full investment lifecycle with the agility and active support that founders expect,” said Carlos Moreira da Silva, co-founder and Managing Partner at 33N Ventures. "We’ve all worked together for several years, and we’re launching 33N fully formed. We are ready to invest from day one - we’re looking for high-growth, scalable businesses with global potential, proven technology, and existing revenues - and in fact we’re already actively exploring several investment opportunities.” For Alantra, the partnership at 33N with Carlos and Carlos represents another step in the growth path of its highly specialised pan-European Venture Capital practice. 33N adds to the firm’s existing VC strategies in energy transition ("Klima”) and life sciences ("Asabys”), where it currently has approximately €400 million in assets under management.

"We are very happy to have partnered with a team with the reputation and capabilities of Carlos Alberto Silva and Carlos Moreira da Silva, who have completed more than 20 investments in cybersecurity and infrastructure software and services companies across Europe, Israel, and the US over the past decade,” said Jacobo Llanza, CEO of Alantra Asset Management. "Moreover, this announcement represents yet a new milestone in Alantra’s plan to develop a pan-European, diversified, and highly specialised asset management business and will further increase our exposure to highly-specialised VC strategies.”

33N is also supported by a global network of leading entrepreneurs, experts, and cybersecurity decision-makers across industries, including Brian NeSmith (Arctic Wolf), Eyal Hayardeny (Reblaze), Nuno Sebastião (Feedzai), and Pierre Polette (Hackuity), all founders of the team’s previous portfolio companies.

"We’re convinced that - with our team’s strong industry knowledge and track record, with our high-quality founder network, and with Alantra’s support in this new venture - 33N can become a leading player in the European and Israeli VC ecosystem”, said co-founder and Managing Partner Carlos Alberto Silva. "With secure digital transformation being a top priority for governments, institutions, companies, and investors across the globe, the opportunity in this space is massive. The cybersecurity market alone is expected to reach more than $160 billion in 2022, with robust annual double-digit growth forecast for the coming years as investment opportunities grow at an accelerating pace."

"But Europe badly needs more specialised funds - that can deliver not only investment but also operational and growth expertise - to help startups and scaleups compete on the global stage with their US and Israeli counterparts. That’s what 33N is here to provide.