Cuatrecasas advises 33N Ventures on €200M fund
Cuatrecasas has advised Porto-based venture capital firm 33N Ventures on the launch of the 33N Cybersecurity, AI and Defense Tech Champions Growth Fund, a new venture capital vehicle with a fundraising target of €200 million. The fund will invest in European growth-stage companies in cybersecurity, artificial intelligence, and defense and security technology.
Fund structure
Cuatrecasas handled the legal and regulatory structuring of the vehicle as a closed-ended venture capital fund governed by Portuguese law. The fund is registered with the Portuguese securities regulator, the Comissão do Mercado de Valores Mobiliários (CMVM), under the European Venture Capital Fund (EuVECA) label. The label allows the fund to raise capital from investors in different European jurisdictions under a harmonised regime.
The transaction supports 33N Ventures’ strategy of investing in technologies seen as critical to digital security and resilience, namely cybersecurity, artificial intelligence and defense technology. 33N Ventures is a venture capital firm headquartered in Porto that invests globally in cybersecurity, artificial intelligence and defense and dual-use technologies.
Advisory team
The Cuatrecasas team was led by partner Paulo Costa Martins of the Financial Sector and Fund Formation Corporate practice. He was joined by associate Natacha Branco from the same area, and by Catarina Mira Lança and Pedro Rodrigues da Silva from the Finance practice.
