Project A Ventures, a Berlin, Germany-based company that specializes in funding and establishing start-ups in the fields of internet, mobile and online advertising technologies, raised €30m in funding.
Media group Axel Springer AG made the investment, which is subject to merger control and cartel office approval.
Founded in January 2012 by managing directors Florian Heinemann, Uwe Horstmann, Thies Sander and Christian Weiss in cooperation with the Otto Group, which remains the leading investor with €50m of committed capital, Project A Ventures has already financed more than 15 startups and sold first stakes.
In addition to financing, the Company Builder supports startups with operational expertise in areas such as Performance Marketing, IT, Business Intelligence, and Organizational Structure.
Its portfolio includes 42Matters, Epicerie, Glow, Natue, Semasio, NU3, Wine in Black, etc.