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33N raises 50 million to invest in cybersecurity

The first venture capital fund created by two former Sonae men, in partnership with Spanish company Alantra and with CGD's private equity as a strategic investor, will focus on Series A and B investments, with an average "ticket" of 10 million euros.

33N raises 50 million to invest in cybersecurity
Jornal de negócios · 30 Jan 2024

On January 10, 2024, "33N (33N Cybersecurity and Infrastructure Software Fund, F.C.R.E.), the European venture capital fund specialized in cybersecurity and infrastructure software, announces that it has completed the raising of 50 million euros, with significant contributions from Caixa Capital, Golden Wealth Management and founders of companies included in the team's previous portfolios," the company said in a statement.


"The investment capacity includes an initial commitment of 20 million euros from Alantra and the Mutua Madrilena insurance company," notes 33N, named after the parallel at 33 degrees north of the Earth's equatorial plane that crosses the United States, Portugal (the island of Porto Santo) and Israel.


The Porto-based venture capital firm points out that Caixa Capital, the private equity company of Caixa Geral de Depósitos (CGD), has joined as a "strategic investor", contributing "not only with a significant financial commitment but also by appointing a member to 33N's Strategic Committee".


33N says it "relies on the support of a global network of more than 30 leading entrepreneurs, experts and decision-makers in various areas of the industry, either as part of the Strategic Committee or as members of the Advisory Board, including the founders of the team's previous portfolio companies, who also contributed a significant portion of the capital raised".


A context which, for 33N, "represents an extraordinary validation of the investment strategy and value proposition offered to the portfolio companies in their commercial expansion across Europe, while gaining global scale".


Carlos & Carlos' venture capital firm therefore considers itself "well positioned to reach the target of 150 million euros", counting on "important investors who are evaluating the opportunity that 33N represents".