European venture capital firm chooses London for first international site
A European venture capital firm has announced that it has chosen London as the site of its first international office.
Project A Ventures, an early-stage venture firm headquartered in Berlin and backer of WorldRemit, Trade Republic and KRY, has brought its “operational VC” model to the UK.
The firm has been present locally since early 2019 through Sam Cash, who joined from betaworks to lead efforts locally.
The team expansion is indicative of its commitment to the UK ecosystem and demonstrates the firm’s willingness to build on the positive momentum it has in the UK, having invested in WorldRemit and Unmind.
Project A will continue to back pan-European founders at seed and Series A with its “Operational Model”.
The model enables all of Project A’s portfolio companies to access more than 100 functional experts across key areas such as software engineering, business intelligence, sales, and marketing.
Sam Cash, principal at Project A Ventures, commented: “We want to give founders all the benefits of having a local partner, whilst allowing them to work with our operational team.”
Project A currently has $600m under management investing across consumer, marketplaces, SaaS, deeptech, fintech / insurtech, mobility and gaming. It has already been backing UK founders over the past years including WorldRemit, Unmind, Electric Gamebox, Quix, Wonderbly as well as a number of unannounced companies.
Nick Taylor, CEO of Unmind, said: “Project A’s operational approach offers something that most VCs cannot provide, a team of 100 functional experts who are able to support companies at a moment’s notice.
“Since partnering with them, their teams in London and Berlin have been invaluable in helping us manage our growth and scaling internationally.”
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