Berlin, September 26, 2019 - Berlin-based early-stage investor Project A has launched their third fund of $200 million (€180 million), taking assets under management to $486 million (€440 million). The capital will be used to continue investing in transformational European startups at the Seed and Series A stage, with initial cheques up to $7 million. In order to expand its reach in two of its favourite ecosystems, Project A is setting up presences in London and Stockholm.
"We are pleased that our approach as an operational venture capital investor convinces both startups and co-investors. Over the next few years, the new fund will enable us to continue backing passionate European founders and their teams at Seed and A stages - working both on B2B as well as B2C innovations," says Thies Sander, General Partner at Project A.
Support for startups from 100 experts
Project A is the only European "Operational VC". Their portfolio companies receive support from 100 functional experts in engineering, marketing, product, design, communications, business intelligence, sales & customer success, organizational building and hiring. Project A can provide support in all critical functions across the entire startup building stack, at all stages of a founding teams’ startup journey.
Doubling down on Seed and Series A startups all across Europe
Having backed category leaders such as WorldRemit, Voi, Sennder, Homeday, Spryker, Uberall, Catawiki, micropsi industries as well as leading digital health start-up Kry in Sweden, Project A will continue to invest in areas such as Fintech, Digital Health, Proptech, Industry 4.0, Enterprise Software, Mobility and Logistics - areas where they have deep expertise and where European start-ups are uniquely positioned to build transformational global businesses.
“We have always considered ourselves a pan-European VC having invested in UK, Sweden, France, Italy, Netherlands, Denmark, and Germany. To further expand this positioning, we have added presences in London and Stockholm which lead us to being closer to these key start-up hubs,” says Florian Heinemann, General Partner at Project A. “The European digital ecosystem matured enormously within a few years. We see more and more ambitious serial entrepreneurs working on groundbreaking product innovations based on their experience in the established economy combined with their prior expertise. We also see more and more competence-driven acquisitions and strongly believe that they will increase significantly over the next few years,” adds Heinemann.
Numerous existing and first US investors
Project A sees the continued commitment from existing investors such as Otto Group, Axel Springer, Bitburger, and Oetker, as well as welcoming its first US institutional investors to the new fund such as Top Tier Capital Partners. The firm is also backed by representatives of renowned companies and entrepreneurial families in Germany.
About Project A
Project A is a venture capital investor focusing on early-stage startups. In addition to capital, Project A provides operational support to its portfolio companies through their 100 functional experts across the startup building stack. The portfolio includes companies such as Catawiki, WorldRemit, uberall, Homeday, Spryker, Kry and Voi. Project A was founded in 2012 and is managed by Rainer Berak, Ben Fischer, Dr. Florian Heinemann, Uwe Horstmann, Thies Sander and Dr. Anton Waitz. In addition to its headquarters in Berlin, Project A has offices in London and Stockholm. More information: www.project-a.com.