Axel Springer invests €30M in Project A Ventures, an investment company specializing in funding internet, mobile, online advertising start-ups, as part of strategic program to invest in performance marketing
October 16, 2013
– Axel Springer AG is engaging in Project A Ventures with 30 million euros. The company specializes in funding and establishing start-ups in the fields of internet, mobile and online advertising technologies. Project A Ventures was founded in January 2012 by its managing directors Florian Heinemann, Uwe Horstmann, Thies Sander and Christian Weiss in cooperation with the Otto Group. The Otto Group remains the leading investor with 50 million euros of committed capital.
Rainer Hillebrand, Vice Chairman of the Executive Board of Otto Group: “We are pleased to have found in the media group Axel Springer and its high internet competence a strategically ideal co-partner to help us make Project A Ventures even stronger.”
Jens Müffelmann, Head of the Electronic Media Division at Axel Springer AG: “This participation in Project A Ventures closes the gap between our strategic late-stage investments and our early-stage activities, amongst others in the field of Performance Marketing. The founders have been successful for a number of years in entrepreneurial development of online businesses. The Otto Group shows how successful corporate venture capital can be in a trade-related environment. Now we want to strengthen this team with our media expertise, our international network and our experience in portfolio construction, networking and development.”
Project A Ventures has already financed more than 15 start-ups and successfully sold first stakes. In addition to financing, the Company Builder supports its start-ups with operational expertise in areas critical for success, such as Performance Marketing, IT, Business Intelligence, and Organizational Structure.
“In Axel Springer we have won another strong partner which through its proven online expertise and its broad reach represents an ideal complement to the Otto Group for us and, more importantly, also for our ventures,” says Thies Sander, co-founder and managing director at Project A Ventures.
The transaction is subject to merger control and cartel office approval.