Key Takeaways
- • Cuatrecasas advised Porto-based venture capital firm 33N Ventures on the launch of the 33N Cybersecurity, AI and Defense Tech Champions Growth Fund, which has a fundraising target of €200 million.
- • The fund will invest in European growth-stage companies in cybersecurity, artificial intelligence, and defense and security technology.
- • The vehicle is structured as a closed-ended venture capital fund governed by Portuguese law and registered with the CMVM under the EuVECA label, allowing capital raising from investors across European jurisdictions under a harmonised regime.
- • Cuatrecasas' team was led by partner Paulo Costa Martins of the Financial Sector and Fund Formation Corporate practice, joined by associate Natacha Branco, and Catarina Mira Lança and Pedro Rodrigues da Silva from the Finance practice.
Summary
Cuatrecasas has advised 33N Ventures, a venture capital firm headquartered in Porto that invests globally in cybersecurity, artificial intelligence, and defense and dual-use technologies, on the launch of the 33N Cybersecurity, AI and Defense Tech Champions Growth Fund, according to Iberian Lawyer. The new vehicle targets €200 million and will focus on European growth-stage companies operating in cybersecurity, artificial intelligence, and defense and security technology.
Cuatrecasas handled the legal and regulatory structuring of the fund, which is a closed-ended venture capital vehicle 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 EuVECA designation enables the fund to raise capital from investors in different European jurisdictions under a harmonised regulatory framework.
The transaction supports 33N Ventures' strategy of backing technologies it views as critical to digital security and resilience. The advisory team was led by partner Paulo Costa Martins of the Financial Sector and Fund Formation Corporate practice, with support from associate Natacha Branco of the same practice and Catarina Mira Lança and Pedro Rodrigues da Silva from the Finance practice.
Cuatrecasas handled the legal and regulatory structuring of the fund, which is a closed-ended venture capital vehicle 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 EuVECA designation enables the fund to raise capital from investors in different European jurisdictions under a harmonised regulatory framework.
The transaction supports 33N Ventures' strategy of backing technologies it views as critical to digital security and resilience. The advisory team was led by partner Paulo Costa Martins of the Financial Sector and Fund Formation Corporate practice, with support from associate Natacha Branco of the same practice and Catarina Mira Lança and Pedro Rodrigues da Silva from the Finance practice.
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