Project A Ventures

Florian Heinemann, Uwe Horstmann and Anton Waitz founded Project A in 2012 and remain partners; Heinemann appeared on the Forbes Midas List Europe in 2025. The partnership has since widened to include Oskar Lingk, Philipp Werner and Christoph Roesler.

Below the partners the firm carries a structure closer to an operating company than a fund: a chief financial officer, a general counsel and a head of investor relations, a bench of investment managers and senior investment associates, and dedicated heads of controlling and monitoring and of accounting and reporting. That back office is the visible half of the operational-VC model, which pairs capital with in-house specialists in technology, marketing, business intelligence and product who embed with portfolio management teams rather than advising from the outside.

Project A has been investing since 2012 and now reports roughly 1.2 billion euros in assets under management, the largest pool among the Berlin operational-VC cohort it helped create. The current vehicle, Fund V, closed at 325 million euros and is described by the firm as its latest fund. Cheque sizes run from 1 to 8 million euros at the earliest and most decisive stages, and the firm counts more than 130 founding teams backed since inception.

Alongside the core early-stage strategy, Project A now runs a private equity arm and a company-building studio, and organises its thesis into five declared areas: defence technologies, frontier technologies, industrial autonomy, physical-world intelligence and regulated industries. That framing marks a deliberate shift from the marketplace and e-commerce roots of the firm's first decade toward industrial and dual-use European software, and it puts Project A into competition with Atomico and the defence-tech specialists rather than with generalist seed funds.