Cuatrecasas advised 33N Ventures, SCR, SA on the launch of the 33N Cybersecurity, AI and Defense Tech Champions Growth Fund, a new venture capital fund with a target of raising €200 million. The fund will invest in growth-stage European companies in the fields of cybersecurity, artificial intelligence, and defense and security technology.
Cuatrecasas’ advisory role included the legal and regulatory structuring of the fund as a closed-end venture capital fund under Portuguese law, registered with the Comissão do Mercado de Valores Mobiliários (CMVM) as a European Venture Capital Fund (EuVECA), which allows it to attract investors in various European jurisdictions under a harmonized regime. Cuatrecasas’ work also included the preparation and negotiation of the corresponding management regulations.
The Cuatrecasas team that advised 33N Ventures was led by lawyer Paulo Costa Martins, from the Financial Sector and Fund Formation Corporate, and included Natacha Branco, from the same area, and Catarina Mira Lança and Pedro Rodrigues da Silva, from Finance.
Paulo Costa Martins emphasized that “this operation reflects 33N Ventures’ commitment to consolidating its investment strategy in technologies critical to security and digital resilience: cybersecurity, artificial intelligence, and defense technology. Structuring this fund as an EuVECA required careful coordination between the European venture capital fund regime and the Portuguese legal framework, while ensuring flexibility in fundraising and alignment with applicable regulatory requirements.”
33N Ventures, SCR, SA, is a leading venture capital company in the Portuguese market, based in Porto, specializing in global investments in the fields of cybersecurity, artificial intelligence and defense/dual-use technologies.
