VC FundAllocates capital directlyActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 10 SOURCES

33N Ventures

Also known as 33N

Porto-based VC investing globally in cybersecurity, AI and dual-use defense, through Fund I (Series A–B) and a Growth Fund (Series B+ to D). Founded in 2022 with Alantra.

HEADQUARTERS: Porto, Portugal
FOUNDED: 2022
AUM: ~€115M (2026, press estimate)
OUTSIDE CAPITAL: Yes
TEAM LISTED: 12 people

FOCUS

STAGES: Series ASeries BGrowth
SECTORS: Software & SaaS Artificial Intelligence
ASSET MIX: Venture capital
GEOGRAPHY: GlobalEuropeNorth AmericaMiddle East

WHAT IT IS

VC Fund. A fund manager investing capital raised from limited partners into startups.

ABOUT

33N Ventures is a specialist venture capital firm founded in summer 2022 by former Sonae executives Carlos Alberto Silva and Carlos Moreira da Silva, in partnership with Spanish asset manager Alantra. It runs two strategies: Fund I (vintage 2023), which leads and co-leads Series A and B rounds in cybersecurity and AI, and a Growth Fund for Series B+ to D rounds in cybersecurity, AI and dual-use defense, which made its first investment in Exein's $270M round in September 2026. Its backers include the European Investment Fund, the Luxembourg Future Fund (LFF2 initiative), Criteria Venture Tech and Caixa Capital, and Jornal de Negócios (September 2026) reports it has raised €115M so far. The firm says its team has made 25+ investments and deployed more than €200M since 2014, with Apono, acquired by 1Password in June 2026, as Fund I's first exit.

INVESTMENT THESIS

Global investor in cybersecurity, AI and dual-use defense companies, with special focus on Europe, North America and the Middle East; backs companies through a curated network of 50+ CISOs, AI and data leaders.

PORTFOLIO (12)

ExeinNOTABLE
Software & SaaS · since 2024
AponoNOTABLE
Software & SaaS · since 2025 · Exited
Arctic WolfNOTABLE
Software & SaaS · since 2017
FeedzaiNOTABLE
Fintech · since 2016
Osavul
Artificial Intelligence · since 2026
Acoru
Fintech · since 2025
Equixly
Software & SaaS · since 2025
DataGalaxy
Software & SaaS · since 2024
Panorays
Software & SaaS · since 2022
StrikeReady
Software & SaaS · since 2023
Codacy
Software & SaaS · since 2022
Jscrambler
Software & SaaS · since 2018

TEAM

Carlos Alberto Silva
Managing Partner · source
Carlos Moreira da Silva
Managing Partner · source
Guy Horowitz
Partner · source
Christophe Bianco
Venture Partner · source
Margarida Correia
Principal & Head of VC Operations · source
Gonçalo Borges
Principal · source
Ollie Bone
Principal · source
Pedro Carreira
Principal · source
Gonçalo Sarmento
Senior Associate · source
Artur Monteiro
Technologist In Residence · source
Lourenço Teodoro
Analyst · source
Alina Medentsy
VC Operations Analyst · source

FAQ

33N Ventures is a VC fund based in Porto, Portugal, founded in 2022.

Yes. 33N Ventures invests directly in private companies.

33N Ventures invests at Series A, Series B and Growth stages in Software & SaaS and Artificial Intelligence.

Key people at 33N Ventures include Carlos Alberto Silva (Managing Partner), Carlos Moreira da Silva (Managing Partner), Guy Horowitz (Partner) and Christophe Bianco (Venture Partner).

33N Ventures's investments include Exein, Apono, Arctic Wolf, Feedzai, Osavul, Acoru, Equixly and DataGalaxy, among others.

The most recent publicly reported investment by 33N Ventures is Osavul (Series A), announced in Oct 2026.

33N Ventures states that it accepts submissions through its official contact page.

Yes. 33N Ventures manages capital from outside investors.