Project A Ventures, a Berlin, Germany-based early-stage venture capital firm, closed its second fund, at €140m and is to close another follow-on fund at €40m.
The investors in the €140m fund included Otto Group, Axel Springer SE, the European Investment Fund, ProSiebenSat.1, Jahr, Haniel, Ravensburger and Oetker as well as individual investors Rolf Schrömgens (co-founder and CEO of Trivago), Rene Köhler (founder and CEO Internetstores), Holger Hengstler (co-founder dress-for-less), and Brian O’Kelley (founder and CEO of AppNexus).
Led by Thies Sander, founding partner, Project A is an established player in Europe’s venture capital landscape with more than 40 investments including Lostmy.name, WorldRemit, ZenMate, Treatwell, Tictail, Catawiki, Contorion, Spryker, and KRY. The total portfolio value is more than €2.5 billion, with Project A holding between 10 and 35% of shares.
Founded in 2012, the firm employs a unit of 100 specialists in areas like software engineering, digital marketing, business intelligence, sales, design, and recruitment. In total, Project A has assets under management from €80m to €260m.