Berlin-based venture capital firm Project A has raised a €325 million fund to back European startups at the pre-seed and seed stages. It is the firm's fifth — and the largest — fund to date.
- Founded in 2012 by Anton Waitz, Ben Fischer, Christian Weiss, Florian Heinemann, Thies Sander, and Uwe Horstmann, Project A is an early-stage investor managing €1.2 billion in assets. Its portfolio includes over 130 startups, such as Trade Republic, Sennder, Zepz, and the recent unicorn Quantum Systems.
- Project A Fund V aims to make 15 to 20 yearly investments in pre-seed and seed startups focusing on defence, fintech, AI, and supply chain software, with initial cheque sizes ranging from €1 million to €8 million.
- Alongside its core early-stage strategy, Project A will continue supporting startups within the Studio, a founder-led space for early-stage exploration, where the firm collaborates from day zero to help entrepreneurs shape and validate bold ideas. 11x, ARX Robotics, and ENAPI leveraged the Studio during idea validation and went on to raise pre-seed from Project A.
- It says its fifth fund was raised within four months, supported by pension funds, family offices, and corporate investors from the US and Europe.
