After nearly nine years as director of Sonae IM (now Bright Pixel Capital), the technology investment arm of the group headed by Cláudia Azevedo, Carlos Alberto Silva left the Sonae universe to ride his own business engine.
Along with Carlos Moreira da Silva, another senior member of Sonae IM, where he has been since 2015, the duo known as Carlos & Carlos has partnered with Alantra, an asset manager of Spanish descent, to launch a new venture capital – 33N Ventures.
33N, based in Porto, is raising €150 million to set up its first fund, which will invest in cybersecurity companies in Europe, Israel and the United States.
The fund will focus on investments in series A and B, with an average ticket of about 10 million euros, starting with “an investment capacity of 20 million already committed by Alantra and its strategic partners”, moving on to 33N, this Thursday, October 13, in a statement.
“33N offers a unique pan-European and Israeli approach and is able to cover the entire investment lifecycle with the flexibility and active support expected by founders,” said Carlos Moreira da Silva, co-founder and managing partner of 33N Ventures.
“We have been working together for several years and we are launching the 33N fully formed,” emphasizes Carlos Moreira da Silva, referring to his partner Carlos Alberto Silva.
“We are ready to invest from day one – we are looking for high-growth, scalable companies with global potential, proven technology and existing revenue – and indeed we are already actively exploring different investment opportunities.”
Serving Sonae, Carlos & Carlos “have made more than 20 investments in cybersecurity software and infrastructure in Europe, Israel and the United States over the past 10 years – most notably including Arctic Wolf, the cybersecurity unicorn founded in 2012 by former Blue Coat Systems CEO Brian NeSmith”, who also “completed”
several exits, including one for Thales and one for Qualcomm, both in 2022.”
The two founders of 33N were joined by three colleagues, with whom they worked at Sonae IM, “to form a team of five people ready for launch”.
Cybersecurity market worth 165 billion euros
“We are convinced that – with the strong knowledge of this industry and the history of our team, with our high-quality founding network and with Alantra’s support in this new venture – 33N is a leading ‘player’ in the ecosystem of European and Israeli ‘venture capital’ ”, notes Carlos Alberto Silva in turn.
“With secure digital transformation a top priority for governments, institutions, businesses and investors around the world, the opportunities in this space are enormous,” he concludes.
According to 33N, “the cybersecurity market is expected to reach more than $160 billion” [cerca de 165 mil milhões de euros] in 2022, with a robust double-digit annual growth forecast for the coming years as investment opportunities grow at a rapid pace.”
“But Europe urgently needs more specialized funds – which can provide not only investment but also operational and growth expertise – to help start-ups and expansion companies compete on the global stage with their US and Israeli counterparts. That’s what 33N is here to do. has to offer”, concludes Carlos Alberto Silva.
For Alantra, the partnership with the two Carlos of 33N represents “another step in the growth of its highly specialized pan-European venture capital practice”, as “33N contributes to the company’s existing venture capital strategies in the field of energy transition (Klima) and life sciences (Asabys), where it currently has approximately EUR 400 million in assets under management”.
“We are delighted to partner with the reputation and capabilities of Carlos Alberto Silva and Carlos Moreira da Silva, who have made more than 20 investments over the past decade in cybersecurity and infrastructure software and services companies in Europe, Israel and the United States” , highlights Jacobo Llanza, CEO of Alantra Asset Management.
“In addition, this announcement represents another milestone in Alantra’s plan to develop a highly specialized, diversified pan-European asset management business”, and “which will further increase our exposure to highly specialized venture capital strategies.” Llanza adds.
Additionally, 33N adds that “it is also backed by a global network of leading cybersecurity entrepreneurs, experts and decision makers across all industries, including Brian NeSmith (Aectic Wolf)), Eyal Hayardeny (Reblaze), Nuno Sebastião (Feedzai) and Pierre. Polette (Hackuity), all founders of the team’s previous portfolios”.
(News updated at 12:21)