33N Ventures
33N Ventures is a European venture capital firm that invests globally in early to growth-stage cybersecurity, AI, and defense companies. It has deployed over €200M across 25+ portfolio companies, including three unicorns, supported by a curated CISO and AI leader network.
- Company typePrivate
- Founded2014
- HeadquartersOporto, Portugal
- Headcount1–10
- GTM typeB2B
- OfferingServices
What 33N Ventures does
33N Ventures is a European-rooted venture capital firm specializing in early to growth-stage investments in cybersecurity, AI, and defense technology. Founded operationally in 2014 and headquartered in Porto, Portugal, the firm has deployed over €200 million across 25+ portfolio companies, including three unicorns backed at their earliest rounds (notably Arctic Wolf, Exein, and a third undisclosed). The firm is led by Managing Partners Carlos Alberto Silva and Carlos Moreira da Silva, supported by a 10–11 person team distributed across offices in Silicon Valley, Lisbon, Porto, London, Luxembourg, Tel Aviv, and Dubai.
The firm's core "product" is capital plus a curated value-add platform for portfolio companies, anchored by two formal advisor networks: the CISO Circle (50+ senior security buyers) and the AI & Data Circle (AI and data leaders), which provide portfolio companies with direct enterprise customer access, technical talent, and go-to-market support. 33N also publishes the TechWinds newsletter on Substack and hosts the annual 33N Connect Day conference, using these as deal-sourcing and thought-leadership channels. Active portfolio companies span API security (Equixly, Apono), IoT security (Exein), fraud prevention (Acoru), data governance (DataGalaxy), third-party risk (Panorays), and SOC automation (StrikeReady), with the Apono acquisition by 1Password in 2025 representing the firm's first realized exit.
Revenue mechanics are those of a traditional fund manager: management fees on committed capital, supplemented by carried interest on exits. The firm is backed by institutional limited partners including Alantra and the European Investment Fund (EIF) under the LFF 2 initiative, and is incorporated in Portugal as 33N Ventures, SCR, S.A. The investment cadence, ecosystem buildout, and team expansion through 2025 suggest preparation for a successor fund vintage.
33N Ventures firmographics
Firmographics- Name
- 33N Ventures
- Legal name
- 33N Ventures, SCR, S.A.
- Website
- https://33n.vc
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- 33N Ventures is a European venture capital firm that invests globally in early to growth-stage cybersecurity, AI, and defense companies. It has deployed over €200M across 25+ portfolio companies, including three unicorns, supported by a curated CISO and AI leader network.
- Ownership category
- akta.pro rank
33N Ventures industry classification
Industry- Product category
- Venture Capital / Private Equity
- NAICS
- Miscellaneous Financial Investment Activities (523999)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)
Keywords
Where 33N Ventures is headquartered
LocationHeadquarters
- HQ city
- Oporto
- HQ country
- Portugal
- HQ region
- Europe
Markets served
33N Ventures business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Distribution channels1 record
Marketing channels4 records
33N Ventures product offering
Product offeringCore offering
33N Ventures is a European venture capital firm that invests globally in early to growth-stage companies in the Cybersecurity, AI, and Defense sectors. The firm deploys capital and provides portfolio support through curated networks of CISOs, AI leaders, and operators, as well as go-to-market expertise. Since 2014, 33N has deployed over €200M across 25+ investments, including 3 unicorns.
Product overview
33N Ventures is a European venture capital firm that does not offer products or services in the traditional software sense. The firm invests globally in category-leading companies in Cybersecurity, AI, and Defense, deploying over €200M since 2014 across 25+ investments including 3 unicorns. 33N supports portfolio companies through a network of CISOs, AI leaders, and operators organized into the CISO Circle and AI & Data Circle forums, providing go-to-market expertise and technical talent access. The firm publishes the TechWinds newsletter covering industry trends, threats, and breakthroughs in cybersecurity, AI, and defense sectors.
Differentiator
Problem solved
Functional benefit
Products and services
- Cybersecurity, AI, and Defense Venture Capital Fund Primary investment product — early to growth-stage equity investments in category-leading companies in cybersecurity, AI, and defense sectors. 33N has deployed over €200M since 2014 across 25+ investments and 3 unicorns. Portfolio includes Exein (IoT security, Italy), Apono (privileged access management, US, acquired by 1Password in 2025), Acoru (fraud prevention, Spain), Equixly (API security, Italy), DataGalaxy (data governance, France), StrikeReady (SOC automation, US), and Panorays (third-party risk, Israel).
- TechWinds Newsletter A weekly newsletter published on Substack providing analysis on trends, threats, and breakthroughs reshaping the cybersecurity, AI, and defense industries. Distributed by 33N Ventures.
- CISO Circle A curated network of 50+ CISOs providing portfolio companies with direct access to decision-makers in the cybersecurity industry, organized as a forum for engagement and go-to-market support.
- AI & Data Circle A curated network of AI and data leaders providing portfolio companies with access to technical talent and industry expertise, organized as a forum alongside the CISO Circle.
Companies that use 33N Ventures
Customer profileSegments1 record
Ideal customer profiles1 record
33N Ventures technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
33N Ventures partnerships and signals
Strategic signalScale indicators7 records
Recent moves7 records
Expansion highlights6 records
33N Ventures competitors and assessment
Company assessmentDirect peers
- Evolution Equity Partners: Specialist cybersecurity venture capital firm investing globally in cybersecurity and enterprise software. Directly comparable to 33N given its cyber-focused thesis and multi-stage investment approach.
- Ten Eleven Ventures: Pure-play cybersecurity venture capital firm investing across stages globally. Closest direct competitor to 33N's vertical-specialist cybersecurity thesis.
- YL Ventures: Israel/US-based cybersecurity-focused seed and early-stage venture capital firm. Comparable to 33N's sector-focused cyber thesis and its early-stage emphasis.
- Cyberstarts: Cybersecurity-focused venture capital firm founded by founders of cybersecurity companies. Comparable specialist cyber thesis with strong network-led value-add similar to 33N's CISO Circle.
- Forgepoint Capital: Cybersecurity, privacy, and infrastructure software-focused venture capital firm. Comparable specialist thesis investing across stages in security and adjacent software categories.
- SYN Ventures: Venture capital firm focused exclusively on cybersecurity and infrastructure software. Direct comparable to 33N's vertical specialist positioning.
- NightDragon: Cybersecurity, safety, security, and privacy investment firm. Directly comparable vertical specialist with similar late-seed to growth-stage focus.
- Team8: Israel-based cybersecurity company-building and investment platform. Comparable cyber vertical specialist with deep operator/enterprise network similar to 33N's CISO Circle.
Regional players
- Notion Capital: European venture capital firm focused on enterprise software and cybersecurity. Comparable as a European-rooted specialist with similar cross-border investing approach.
Emerging players
- Energy Impact Partners: Sector-focused venture capital platform investing in cybersecurity, enterprise IT, and adjacent verticals. Comparable specialist thesis with a similar network-driven value-add model.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
33N Ventures social profiles
Digital presence33N Ventures financial estimates
Financial estimateRevenue estimate
Valuation estimate
33N Ventures leadership team
Management profileNumber of profiles
Profiles11 records
33N Ventures funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
33N Ventures M&A and investment
M&A and investmentM&A
Investments8 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about 33N Ventures
What does 33N Ventures do?
33N Ventures is a European venture capital firm that invests globally in early to growth-stage companies in the Cybersecurity, AI, and Defense sectors. The firm deploys capital and provides portfolio support through curated networks of CISOs, AI leaders, and operators, as well as go-to-market expertise. Since 2014, 33N has deployed over €200M across 25+ investments, including 3 unicorns.
Is 33N Ventures a public or private company?
33N Ventures is a private company. It is classified as venture growth investor backed and is currently operating.
When was 33N Ventures founded?
33N Ventures was founded in 2014. It employs 1 to 10 people.
Where is 33N Ventures based?
33N Ventures is headquartered in Oporto, Portugal, in the Europe region.
Who are 33N Ventures's main competitors?
Direct peers on record are Evolution Equity Partners, Ten Eleven Ventures, YL Ventures, Cyberstarts, Forgepoint Capital, SYN Ventures, NightDragon and Team8. Notion Capital is listed as a regional player. Energy Impact Partners is listed as an emerging player.
Does 33N Ventures have an API?
No public API is recorded for 33N Ventures.
What industry is 33N Ventures in?
33N Ventures's product category is Venture Capital / Private Equity. Its primary akta.pro industry code is FSANAAAD, Sector-Focused Venture Capital (Vertical Specialists). Its NAICS code is 523999 and its SIC code is 6211.