# Project A Ventures: portfolio, investments and team

> Project A Ventures is a vc firm based in Germany. 120 investments on record, 8 in the last 12 months, latest Oct 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/project-a (Millionrounds; every figure on the page links to its filing or article)

Germany · [Investor](https://millionrounds.com/investors)

# Project A Ventures

Last cheque observed Oct 2026; 120 cheques on record.

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Deploying now New fund $55M, Dec 2024 VC firm

Pre-seed Seed Series A AI & Machine Learning Artificial Intelligence & Machine Learning (AI/ML) Developer Platform

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Deploying now

**38%** of best year **8** **cheques in 12 months**, 120 on record

Since the last cheque **25** days **00** hrs **00** min **00** sec

Median round **$10M** Cheque size, as they say **$1.0M – $8.0M** Rounds led **2 of 120** Sole investor **30 rounds** Exits **3 from the portfolio** Mostly in **Germany, 57%**

Pitch Project A Ventures

## Project A Ventures highlights

- 01 8 cheques in the last 12 months
- 02 Mostly Seed and Series A: 70% of its rounds
- 03 Sole investor in 30 rounds, median $4.3M
- 04 3 exits from the portfolio

## What they do

> Filed 1 private fund offering with the SEC, the most recent in 2021-11 From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $1.0M – $8.0M as they say
- **Stages:** Pre-seed Seed Series A Series B
- **Sectors:** AI & Machine Learning Artificial Intelligence & Machine Learning (AI/ML) Developer Platform
- **Based in:** Berlin, Germany
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **120 appearances**

- **2026** 7 rounds
- **Oct** **[Nettle](https://millionrounds.com/company/nettle)** Seed · GB · Firms' own news pages **$4.8M** With 4 others
- **Jul** **[Nexcade](https://millionrounds.com/company/nexcade)** Seed · GB **$6.0M** With 4 others
- **Jul** **[Project Q](https://millionrounds.com/company/project-q)** Series A · DE **$17M** With 1 other
- **Jun** **[Vaeridion](https://millionrounds.com/company/vaeridion)** Venture · DE **Undisclosed** With 2 others
- **Apr** **[Linexa](https://millionrounds.com/company/linexa)** Pre-seed · DE **$2.4M** Sole investor
- **Feb** **[Andercore](https://millionrounds.com/company/andercore)** Series B · DE **$40M** With 1 other
- **Feb** **[Hades Mining](https://millionrounds.com/company/hades-mining)** Seed · DE **$18M** With 3 others
- **2025** 21 rounds
- **Dec** **[Spryker](https://millionrounds.com/company/spryker)** Venture · DE **Undisclosed** With 2 others
- **Oct** **[resourcly](https://millionrounds.com/company/resourcly)** Seed · DE **$3.1M** With 1 other
- **Sept** **[Architect AI](https://millionrounds.com/company/architect-ai)** Seed · US **$4.8M** With 1 other
- **Aug** **[Riva Money](https://millionrounds.com/company/riva-money)** Pre-seed · GB **$3.0M** Sole investor
- **Jul** **[Project Q](https://millionrounds.com/company/project-q)** Seed · DE · Firms' own news pages **$8.7M** *Led*
- **Jul** **[ARX Robotics](https://millionrounds.com/company/arx-robotics)** Series A · DE **$13M** With 4 others
- **Jul** **[avoltra](https://millionrounds.com/company/avoltra)** Pre-seed · DE **$2.7M** Sole investor
- **Jun** **[Atmen](https://millionrounds.com/company/atmen)** Seed · DE · Silicon Canals **$5.7M** *Led*
- **Jun** **[Labrys Technologies](https://millionrounds.com/company/labrys-technologies)** Series A · GB **$20M** With 2 others
- **Jun** **[Pactum](https://millionrounds.com/company/pactum)** Series C · US **$54M** With 3 others
- **Jun** **[Baobab](https://millionrounds.com/company/baobab)** Series A · DE **$14M** Sole investor
- **Apr** **[VESTIGAS](https://millionrounds.com/company/vestigas)** Seed · DE **$8.8M** With 1 other
- **Apr** **[Nettle](https://millionrounds.com/company/nettle)** Pre-seed · GB **$1.9M** Sole investor
- **Apr** **[Atmantara](https://millionrounds.com/company/atmantara)** Series A · DE **$5.1M** Sole investor
- **Apr** **[Rematiq](https://millionrounds.com/company/rematiq)** Seed · DE **$6.0M** Sole investor
- **Mar** **[Dalma](https://millionrounds.com/company/dalma)** Series B · FR · Silicon Canals **$22M** With 6 others
- **Mar** **[Mimo](https://millionrounds.com/company/mimo)** Venture · GB **$8.5M** With 2 others
- **Mar** **[Montamo](https://millionrounds.com/company/montamo)** Seed · DE · Silicon Canals **$6.5M** With 3 others
- **Feb** **[Relay](https://millionrounds.com/company/relay)** Series A · GB · TechCrunch **$35M** With 2 others
- **Feb** **[METYCLE](https://millionrounds.com/company/metycle)** Series A · DE **$15M** With 2 others
- **Jan** **[ENAPI](https://millionrounds.com/company/enapi)** Seed · DE **$7.8M** With 2 others
- **2024** 10 rounds
- **Dec** **[Vaeridion](https://millionrounds.com/company/vaeridion)** Series A · DE **$15M** With 2 others
- **Aug** **[Evernest](https://millionrounds.com/company/evernest)** Venture · DE **Undisclosed** With 2 others
- **Aug** **[Root Global](https://millionrounds.com/company/root-global)** Seed · DE **$8.9M** With 2 others
- **Jun** **[Black Semiconductor](https://millionrounds.com/company/black-semiconductor)** Grant · DE **$247M** With 2 others
- **Jun** **[Recap](https://millionrounds.com/company/recap)** Series A · GB **$15M** With 3 others
- **May** **[Butter Payments](https://millionrounds.com/company/butter-payments)** Venture · US **$10M** With 6 others
- **Mar** **[Mindfuel](https://millionrounds.com/company/mindfuel)** Seed · DE **$4.1M** Sole investor
- **Mar** **[Bene Bono](https://millionrounds.com/company/bene-bono)** Series A · FR **$11M** With 3 others
- **Feb** **[HeyFlow](https://millionrounds.com/company/heyflow)** Series A · GB **$16M** With 2 others
- **Jan** **[twig bio](https://millionrounds.com/company/twig-bio)** Venture · GB **Undisclosed** With 3 others
- **2023** 4 rounds
- **Jun** **[Bucket](https://millionrounds.com/company/bucket)** Seed · DK **$3.7M** With 1 other
- **Feb** **[Growblocks](https://millionrounds.com/company/growblocks)** Seed · DK **$6.5M** With 1 other

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **8 named**

AG **Anton Grabovski** Managing Director i Form ADV

AW **Anton Waitz** Investment Committee Member - Investment proposals only. Managing director of Project A Ventures II Managementgesellschaft GmbH, the General Partner of Issuer and Project A Ventures II Managementgesellschaft GmbH, the Managing Limited Partner i Filing they signed

BF **Ben Fischer** Managing Director of the General Partner i Filing they signed

BF **Benjamin Fischer** not a director but an Investment Committee Member - Investment proposals only i Filing they signed

FH **Florian Heinemann** not a director but an Investment Committee Member - Investment proposals only i Filing they signed

JJ **Jan-Willem Jensen** Managing Director i Form ADV

TS **Thies Sander** Investment Committee Member - Investment proposals only. Managing director of Project A Ventures II Managementgesellschaft GmbH, the General Partner of Issuer and Project A Ventures II Managementgesellschaft GmbH, the Managing Limited Partner i Filing they signed

UH **Uwe Horstmann** not a director but an Investment Committee Member - Investment proposals only i Filing they signed

We also hold **23** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$2.8B** gross assets of its funds Oct 2026

**5+** funds on file numbered funds in its name

**Exempt** reporting adviser venture or small private funds

- **Legal name:** Project A Ventures Management GMBH
- **SEC number:** CRD 319556

## Exits from the portfolio

Companies it backed that were later bought or listed **3 in all**

**[Saatchi Art](https://millionrounds.com/company/saatchi-art)** Bought by Demand Media **$17M** Aug 2014

**[Metrigo](https://millionrounds.com/company/metrigo)** Bought by zanox **Undisclosed** Nov 2013

**[Tirendo](https://millionrounds.com/company/tirendo)** Bought by Delticom AG **Undisclosed** Sept 2013

An exit counts when it came after the firm's first round in the company. From historical deal records.

New fund on file

**$55M**

raised in Dec 2024

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Pre-seed Seed Series A

Median round joined **$10M** the round, not its cheque Alone, median **$4.3M**

Led 2 of 120 rounds **2%**

- **Said size:** $1.0M – $8.0M
- **Sole investor:** 30 rounds
- **Last cheque:** Oct 2026
- **Exits:** 3 from the portfolio

Rounds by stage said on their site

- Seed said *45*
- Series A said *29*
- Venture *15*
- Series B said *11*
- Series C *5*
- Pre-seed said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Creandum](https://millionrounds.com/fund/creandum) 8
- [Accel](https://millionrounds.com/fund/accel) 4
- [Seedcamp](https://millionrounds.com/fund/seedcamp) 4
- [Superangel](https://millionrounds.com/fund/superangel) 4
- [Vsquared Ventures](https://millionrounds.com/fund/vsquared-ventures) 4
- [e.ventures](https://millionrounds.com/fund/e-ventures) 4

**Pitching Project A Ventures?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Project A Ventures. A count of rooms they were both in, not a relationship either has claimed.

[**Creandum** VC firm **8** rounds together](https://millionrounds.com/fund/creandum)[**Accel** VC firm **4** rounds together](https://millionrounds.com/fund/accel)[**Seedcamp** VC firm **4** rounds together](https://millionrounds.com/fund/seedcamp)[**Superangel** VC firm **4** rounds together](https://millionrounds.com/fund/superangel)[**Vsquared Ventures** VC firm **4** rounds together](https://millionrounds.com/fund/vsquared-ventures)[**e.ventures** VC firm **4** rounds together](https://millionrounds.com/fund/e-ventures)[**Balderton Capital** VC firm **3** rounds together](https://millionrounds.com/fund/balderton-capital)[**HV Capital** VC firm **3** rounds together](https://millionrounds.com/fund/hv-capital)[**HV Holtzbrinck Ventures** Private equity **3** rounds together](https://millionrounds.com/fund/hv-holtzbrinck-ventures)[**Index Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/index-ventures)[**JME Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/jme-ventures)[**Kima Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/kima-ventures)

## Recently backed

The latest companies Project A Ventures put money into.

[**Nexcade** $6.0M · Jul 2026](https://millionrounds.com/company/nexcade)[**Project Q** $17M · Jul 2026](https://millionrounds.com/company/project-q)[**Linexa** $2.4M · Apr 2026](https://millionrounds.com/company/linexa)[**Andercore** $40M · Feb 2026](https://millionrounds.com/company/andercore)[**Spryker** Dec 2025](https://millionrounds.com/company/spryker)[**resourcly** $3.1M · Oct 2025](https://millionrounds.com/company/resourcly)

## On podcasts

1 episode naming Project A Ventures in the title, and 1 more that mention it.

- [Tech.eu](https://millionrounds.com/podcasts/tech-eu) 11 Apr 2016 · 22 min Bitcoin in Europe, Nokia layoffs, Twiggle raises, Project A Ventures and does Europe have a diversity problem? Mentions [Project A Ventures](https://millionrounds.com/fund/project-a)[Roxanne Varza](https://millionrounds.com/fund/roxanne-varza) Apple PodcastsShow page

### Mentioned in

- [Tech.eu](https://millionrounds.com/podcasts/tech-eu) 18 Jan 2022 · 36 min Building a pan-European operational VC, in depth with Uwe Horstmann, Project A Apple PodcastsShow page

## Quick answers about Project A Ventures

### What does Project A Ventures invest in?

Project A Ventures invests most often at Seed and Series A (70% of the rounds on record), in sectors such as AI & Machine Learning, Artificial Intelligence & Machine Learning (AI/ML) and Developer Platform.

### How active is Project A Ventures?

120 investments on record, 8 of them in the last 12 months, and it led 2. The most recent was in Oct 2026.

### What has Project A Ventures invested in recently?

Its most recent investments on record: Nettle (Seed, Oct 2026), Nexcade (Seed, Jul 2026) and Project Q (Series A, Jul 2026).

### How big are Project A Ventures's cheques?

The median round it joins is $10M. It says it writes cheques of $1.0M to $8.0M.

### Does Project A Ventures lead rounds?

Sometimes: it led 2 of its 120 investments on record (2%).

### Where does Project A Ventures invest?

Most of the companies it backs are in Germany (57%), the United Kingdom (25%) and the United States (8%).

### Is Project A Ventures investing now?

Yes: it is actively investing, with 8 investments in the last 12 months.

### Who does Project A Ventures invest alongside?

Most often Creandum (8 rounds together), Accel (4 rounds together) and Seedcamp (4 rounds together).

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