Project Europe cofounders step down as fund readies next chapter

Two cofounders of Project Europe, the investment initiative launched by venture capitalist Harry Stebbings, are stepping down. The initiative has backed nearly 30 startups since its inception last year.

Kitty Mayo and Jade Yarrow are relinquishing their positions as the fund prepares for its next phase, Project Europe 2.0. "We are incredibly proud of what we have achieved so far, but we do not want to be tied to one fund forever," they stated.

"It's time to move on and make way for new ideas and investment strategies," they added. Their departures coincide with the end of the fund's reporting period.

Project Europe has focused on investments in European technology companies. In its latest report, the fund announced it had invested a total of €686 million since its founding. Investments have targeted software companies and healthtech firms, among others.