Project A closes second fund on €140m

The figure is significantly higher than the €80m raised by the firm for its 2012-vintage debut fund.

Project A also said in a statement it will soon close an additional €40m fund dedicated to supporting follow-on investments in portfolio companies.

Investors
Commitments to the new vehicle came from a mixture of new and existing investors, including the European Investment Fund, Otto Group and Axel Springer, in addition to various other industrial investors, family offices and high-net-worth individuals.

Investments
Project A acquires equity stakes of 10-35% in European companies predominantly operating in the IT, software, marketing, business intelligence and recruitment sectors. The VC's maiden fund made 40 investments in companies including Lost My Name, ZenMate, Tictail, Catawiki and Kry.

The firm primarily invests in German companies, though it has also made investments in the UK, Netherlands, France, Switzerland and Sweden.

People
Project A Ventures – Thies Sander (founding partner).

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