Regulated Industries

At Project A, our focus on Regulated Industries started early, when few were paying attention.

Project A has a successful track record of backing founders building companies for tomorrow’s European military – both dual-use and military equipment. We believe a new generation of Defence tech is required for Europe to protect its democratic freedom and deter adversaries.

We see the regulated economy as one of the most structurally defensible places to build technology companies today. Where others might see compliance burden, we see durable competitive advantage.

Every major legislative shift creates a wave of companies, and we've seen it in our own portfolio. Trade Republic wouldn't exist without MiFID II opening up European retail investing. Now a new wave is emerging: MiCA and the GENIUS Act rewriting the rules around stablecoin settlement, the EU AI Act creating an entirely new compliance tooling market, and EHDS reshaping how health data flows across Europe. At the same time, AI has unlocked the ability to automate workflows, process regulated data, and serve institutions in ways that weren't feasible before. The gap between what institutions are required to do and what their legacy systems can handle has never been wider.

We partner with founders reshaping standards, whether in financial services, healthcare, or the horizontal software that every regulated business now legally needs. We believe the most compelling opportunities will solve specific workflow pain, sit invisibly behind institutional processes, and build a moat that deepens with every new rule, every new dataset, every new integration.