Project Europe cofounders depart ahead of fund’s next phase
According to Sifted, Project Europe’s cofounders have stepped down as the firm reportedly prepares for its next fund.
The departures coincide with mixed signals in European tech funding. While unicorn creation has accelerated—Antler’s September analysis found Europe producing record numbers—early-stage startups continue to face steep drop-off rates, with fewer than 10% advancing from seed to Series A. High-profile AI deals, like Mistral’s €3 billion Series D and ElevenLabs’ rumored $500 million round, have overshadowed persistent challenges in securing follow-on capital.
Project Europe’s plans remain unconfirmed. The firm, which StartupReader has not previously covered, has not shared details about fundraising targets or potential changes in direction. The move comes as European venture firms navigate a shifting environment after 2026’s surge in AI funding, leaving open questions about where capital will flow next—whether toward later-stage bets or earlier, riskier opportunities.
Sources: sifted.eu
“The exits may reflect broader pressures in European venture capital, where funds are adjusting strategies after a year of record AI funding.”
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