33N Ventures launches €200 million cybersecurity and AI fund

33N Ventures, a Porto-based venture capital firm, has launched the 33N Cybersecurity, AI and Defense Tech Champions Growth Fund. The new fund aims to raise €200 million to invest in European growth-stage companies specializing in cybersecurity, artificial intelligence, and defense technology.

Legal counsel for the fund's launch was provided by Cuatrecasas. The fund is structured as a closed-end venture capital fund under Portuguese law and is registered with the Portuguese Securities Market Commission (CMVM) as a European Venture Capital Fund (EuVECA). This regulatory status is intended to facilitate capital raising from investors across various European jurisdictions under a harmonized regime.

In a separate development, the Portuguese company Beyond Vision secured more than €28 million in a funding round led by Indico Capital Partners and Lince Capital, with participation from ActiveCap. Beyond Vision, a NATO supplier, develops unmanned aerial systems and autonomous technologies for civil and military use. The investment is intended to bolster industrial capacity, accelerate AI solution development, and support international expansion.