Berlin-Based VC Firm Project A Raises Record €325m Fund, Poised to Boost Defence, Fintech, AI & Supply Chain Startups

In a pioneering move that stands to shake the Eurozone startup ecosystem, German venture capital firm Project A has etched an exemplary mark by securing a formidable fifth fund of €325 million. This fresh infusion of capital is earmarked to galvanise the pre-seed and seed stages of European startups in explicitly defined sectors: defence technology, fintech, artificial intelligence, and supply-chain software.

This sizable fund is the firm’s largest to date, signaling a pattern of escalating confidence in Europe’s burgeoning startup landscape. The Berlin-born firm intends to use the fund to underwrite 15 to 20 investments per year, with initial investments falling in a range between €1 million and €8 million. Project A, however, chose not to divulge what portion of these funds has been allocated for follow-on investments.

Fast forward to 2022, and Project A has veered towards a new lane: defence tech, with Quantum Systems, a fresh unicorn, and Arx Robotics, a battlefield robotics startup, enjoying the VC firm’s backing. This strategic shift has positioned Project A as one of the first German VCs to openly champion defence tech, underscoring the sector’s growing significance on the continent.

Raising the hefty €325m fund in a mere four months from LPs, including pension funds, family offices, and corporates spread across the US and Europe, Project A’s last major funding endeavour was a $375m fund raised in June 2022.

It’s ample evidence of Project A’s growth and diversification that Jack Wang, who joined the firm in April 2021, has been promoted from a principal to a partner in Project A’s burgeoning London office.

The transformative power of European entrepreneurship is at an all-time high, according to Malin Posern, partner at Project A. The accomplishment of raising this fund underscores Project A’s tenacious conviction in Europe’s ability to cultivate globally significant companies, and the firm intends to play a crucial role in the journey of these ambitious founders, as their pivotal partner.