33N Ventures, a European venture capital fund specializing in cybersecurity and infrastructure software, has successfully closed €50 million for its 33N Cybersecurity and Infrastructure Software Fund. The fund, with a target size of $150 million, aims to invest globally in companies across the globe.

The fund received significant contributions from Caixa Capital, Golden Wealth Management, and the founders of the team’s previous portfolio companies. This adds to the initial €20 million investment capacity committed by strategic partner Alantra and insurance company Mutua Madrileña.

Founded by Carlos Alberto Silva and Carlos Moreira da Silva in partnership with Alantra, 33N Ventures has a global network of over 30 leading entrepreneurs, experts, and decision-makers. This network, part of the Strategic Committee or Advisory Board, includes founders of the team’s previous portfolio companies who also contributed significantly to the capital raised.

Caixa Capital, the private equity arm of Caixa Geral de Depósitos, the largest Portuguese bank, joined as a Strategic Investor. They not only made a significant financial commitment but also appointed a member to 33N’s Strategic Committee, bringing valuable insights from the financial industry’s cybersecurity perspective.

Despite the challenging fundraising environment, 33N is well-positioned to reach its €150 million target, with flagship investors currently evaluating the opportunity. The plan is to expand fundraising efforts globally, targeting investors interested in exposure to Europe. Europe is increasingly recognized by US, Middle East, and APAC investors as a sizable and fast-growing cybersecurity and infrastructure software market.

33N Ventures aims to invest globally in cybersecurity and infrastructure software companies, focusing on Series A and B investments with an average ticket size of around €10 million. The team, led by Carlos Alberto Silva and Carlos Moreira da Silva, has a strong track record, making over 20 investments in the past decade, including notable companies like Feedzai, Outsystems, and Arctic Wolf.

Carlos Alberto Silva, co-founder and Managing Partner at 33N Ventures, expressed excitement about reaching the important milestone of the successful first close of the Fund, emphasizing the confidence in the team and the investment strategy.

“We are thrilled to reach this important milestone with the successful first close of the Fund,” said Carlos Alberto Silva, co-founder and Managing Partner at 33N Ventures. “The strong support and commitments received reflect the confidence in the team and the investment strategy focused on the cybersecurity and infrastructure software space.”

“We deeply appreciate the investment from our founders and other entities within our ecosystem who have joined us on this journey,” added Carlos Moreira da Silva, co-founder and Managing Partner at 33N Ventures. “The support of our Strategic Committee and Advisory Board further validates our vision and enhances the ability to identify and nurture high-growth companies with global potential.”
With the first close successfully completed, 33N is excited to continue its mission of identifying and investing in innovative cybersecurity and infrastructure software startups.

With the first close completed, 33N is eager to continue its mission of identifying and investing in innovative cybersecurity and infrastructure software startups.

Founded in 2022, 33N is a specialized cybersecurity and infrastructure software European venture capital fund registered with the Spanish Comisión Nacional del Mercado de Valores (CNMV). The fund targets early growth-stage companies globally, developing and commercializing emerging technology solutions in cybersecurity and infrastructure software, and is addressed to professional investors complying with the EuVECA Regulation. The international team comprises experienced professionals and a global network of industry leaders in cybersecurity.

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• Source: https://techstartups.com/2024/01/10/33n-ventures-closes-e50-million-for-its-cybersecurity-and-infrastructure-software-fund-to-invest-across-the-globe/