Project A Ventures has registered €106m of capital commitments for its latest investment fund to put it almost halfway to its goal.
The firm is aiming to raise up to €225m for Project A Ventures III, according to a filing with the SEC.
Project A has secured almost half of its goal in capital commitments, with the filing indicating the capital has all come from a single investor.
The VC typically backs early-stage start-ups, but has not restricted itself to any particular sector or theme, according to its website.
It’s current portfolio include companies such as treatwell, Spryker Systems and Voi.
Project A’s initial investments start at €500,000, but can be valued as high as €5m. It also sets aside up to €10m of follow-on funding per company.
Should Project A reach its goal it will significantly exceed the €140m pulled in for Fund II in 2017. That year the firm also closed a follow-on investment fund on €40m.
Project A was established in 2012, and would hold an €80m final close for its first fund later that year.
The firm has invested into a number of FinTechs in the past including, international money transfer WorldRemit, insurance rate monitoring service gabi and online real estate marketplace Casavo
The Berlin based VC is also backed by German e-commerce giant, Otto Group.
