Founded in 2012, Project A is an early-stage venture capital firm partnering with ambitious entrepreneurs building the next generation of European technology leaders. With approximately €1.2 billion in assets under management and more than 140 investments across multiple fund vehicles, the firm has established itself as one of Europe’s most active investors.
As Project A’s footprint expanded, so too did the complexity of managing fund structures, portfolio data, and investor reporting across its growing investment ecosystem. To support its continued expansion, Project A partnered with Quantium and A11 to build a centralized data foundation capable of supporting its next phase of growth.
Together, they set out to transform Project A’s investment operations – replacing legacy systems and manual processes with a scalable platform designed for the modern venture capital environment.
THE CHALLENGE
Like many venture capital firms navigating rapid growth, Project A found that its back-office infrastructure had gradually evolved into multiple, separate data environments.
Fund accounting, portfolio monitoring, and investor reporting were functioning in silos, which meant constant reconciliation to ensure everything stayed aligned. This fragmentation introduced operational inefficiencies and made real-time visibility across the firm increasingly difficult.
In addition, the quarterly reporting cycle had become highly resource intensive. Preparing reports required significant manual data consolidation, often stretching the process across several days or weeks.
Beyond operational efficiency, Project A had a broader technology vision in mind. As the firm explored the potential of AI-driven analytics and predictive insights, the leadership team recognised that a single, clean source of truth would be essential.
DEFINING PLATFORM REQUIREMENTS
When evaluating potential solutions, Project A conducted a comprehensive market assessment of several well-known technology providers serving the private markets industry. While many solutions offered individual modules for accounting or portfolio management, they often lacked the flexibility and integration capabilities required for Project A’s broader technology roadmap.
Equally important to Project A was finding a partner with the agility to integrate with modern tech stacks today – and a proven track record of moving quickly as new capabilities emerge.
Thus, Project A defined three clear objectives for their new platform:
- Establish a centralized data foundation capable of supporting AI-driven analytics and future technology applications
- Eliminate manual reconciliation and shadow spreadsheets across fund and portfolio data
- Compress reporting timelines by approximately 70%, moving from weeks of manual preparation to automated, near-instant outputs and improved transparency with investors
Once conversations began with Quantium, the team quickly recognised a shared understanding of venture capital operations.
“Quantium demonstrated a sophisticated understanding of the nuanced, complex fund structures that are common in European venture capital,” said Anton Grabovski, CFO at Project A. “Their team spoke our language, focusing on data integrity, flexibility, and long-term scalability, rather than just features.”
“The ability to bring fund accounting, portfolio monitoring, and investor communications under one digital roof offered a level of synergy that no other vendor could match,” said Vincent Synde, Senior Finance Manager at Project A. “This made them the clear partner of choice for Project A’s next phase of growth.”
IMPLEMENTATION
The next step was translating Project A’s operating model into robust, future-ready system architecture. A11 took full ownership of delivery from scoping through to go-live, accountable for scope, timeline, and delivery risk across both organisations. That mandate went beyond configuration: defining the target operating model, managing the risk of moving a regulated finance function onto a new platform without interrupting a live reporting cycle, holding stakeholders on both sides to a single plan, and building Project A’s capacity to run the platform independently after go-live.
“A11 did an excellent job in translating Project A’s complex multi-fund requirements into a practical schema within Quantium,” said Synde. “Their role was critical in ensuring the system was future-proofed against further AUM expansion, and also that it reflected our unique operations rather than a generic, out-of-the-box setup.”
Implementation also became an opportunity to rethink old processes, particularly in areas such as complex waterfall calculations and portfolio valuation adjustments, where manual processes had previously introduced a higher risk of error. Offline spreadsheets and bespoke reporting templates were replaced with structured, system-driven workflows.
“Our focus throughout was making sure the platform worked the way Project A actually operates, not the other way around,” said Marvin Pflaume, Tech Consultant at A11.
MANAGING DATA MIGRATION AND CHANGE
One of the most technically demanding aspects of the project was the migration of more than a decade of historical fund data into Quantium’s structured data architecture. “Legacy data often contains hidden dependencies and embedded logic within spreadsheets, which requires careful validation during migration,” explained Pflaume.
To ensure a smooth transition, Project A ran Quantium in parallel with its legacy systems for a full reporting cycle while performing extensive checks at every stage. This multi-stage migration approach ensured the accuracy and integrity of the data throughout the process.
Equally important was managing internal adoption. As Pflaume noted, “Moving experienced finance teams away from familiar spreadsheet-based workflows can sometimes be challenging.” A11 managed this process directly, coordinating between Project A’s finance team and Quantium, maintaining momentum, and ensuring alignment across the business throughout the rollout.
“Having A11 own delivery on our side was the project’s critical success factor,” said Grabovski. “They ran it for us end-to-end and kept Quantium aligned to our plan throughout.”
HOW QUANTIUM HELPED PROJECT A
1. Turn structured data into AI-driven intelligence
With Quantium, Project A has rebuilt the foundational infrastructure required for its long-term technology strategy – a clean, structured data environment that positions the firm to adopt modern AI capabilities as they emerge.
Project A’s teams have already begun putting this to work, as early adopters of Quantium’s MCP server. By connecting Quantium’s API directly into its own instance of Claude, the firm set out to strengthen internal connectivity among senior partners, giving them direct visibility into fund and portfolio data, including on mobile, without needing to route every request through the Finance team. In effect, partners can now ask Claude rather than ask a person.
With this in place, Project A is now positioned to move beyond retrospective reporting toward forward-looking, data-driven decision-making – leveraging its data not just for reporting, but as a strategic asset.
“We wanted a platform that wouldn’t just solve today’s operational challenges, but position us to take full advantage of AI and advanced analytics as they evolve,” said Synde. “Quantium has delivered exactly that.”
2. Transform operational efficiency and scalability
Quantium redefined Project A’s operating model. By consolidating fund accounting, portfolio monitoring, and investor data into a single, unified platform, the firm replaced fragmented, manual workflows with a structured, automated operating environment – one capable of scaling alongside continued AUM growth, and free from the shadow spreadsheets and manual reconciliation that had previously consumed significant finance team bandwidth.
“The implementation of Quantium has fundamentally recalibrated our operating leverage,” said Grabovski. “We’ve been able to decouple AUM growth from back-office headcount, and are now positioned to scale our fund structures and investments without a corresponding increase in administrative costs.”
3. Deliver on-demand, institutional-grade reporting to investors
Prior to Quantium, producing investor reports required weeks of manual data consolidation across disconnected systems – a process that was both resource-intensive and difficult to scale. Post-implementation, Quantium gave Project A’s finance team the ability to produce accurate, investor-ready output in a fraction of the time – reducing reporting timelines by approximately 70% and achieving the core efficiency target set at the outset of the project. These outcomes were delivered on time and to scope, with A11’s expertise ensuring a smooth, well-managed transition that kept the project on track at every stage.
“Quantium has institutionalised our data governance,” said Synde. “Leadership now has real-time visibility into portfolio concentrations, fund liquidity, and performance attribution. This shift has materially improved both the accuracy and reliability of reporting.”
Project A’s investors now benefit from more timely, consistent, and transparent reporting – with the confidence that the numbers are always current and independently verifiable.
A partnership for long-term growth
Each partner brought complementary expertise to the project: Project A with its deep understanding of venture capital operations; A11 with its fund operations expertise and its track record in managing large-scale system implementations, taking end-to-end project ownership from target-state design through to team enablement; and Quantium with a modern, flexible technology platform designed specifically for private markets.
“The project’s success was driven by a deliberate shift in mindset – approaching it as a fundamental re-engineering of the operating model, rather than a conventional IT migration,” said Pflaume. “Our role was to own that shift end-to-end on Project A’s side and to coordinate Quantium through it, from decision to delivery.”
“Our experience with the Quantium team has been extremely positive,” added Synde. “They’ve operated more like a strategic partner than a software vendor, with technical sophistication and high-touch responsiveness. They clearly demonstrate a deep understanding of the unique complexities of the European VC landscape.”
With A11 and Quantium, Project A has built a scalable data architecture and operating model designed not just for today’s needs, but for the next generation of venture capital investing.