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 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.”