The European arm of Politico will go live online on 21 April with more than 40 journalists spread across the continent as the US media outlet aims to fulfil its ambitions to become “the dominant politics and policy publication in Europe”.

Politico claims it will have more journalists combined in Washington and Brussels than any other outlet. Total staff at the venture will reach about 70.

Politico co-founder and editor-in-chief John Harris said the European venture would have a broad range of competitors in its coverage areas of politics, businesses, security and economics.

“I am an admirer of the FT, the Economist and the international edition of the New York Times. We are going to compete on the equal footing right from the get-go,” he said.

“The expansion that we are making in Europe, it’s really by far the biggest project on our plate. I don’t imagine a year from now we could be dominant, [but] we’re certainly going to be a major player in that European conversation.”

As well as rolling out a website, paid digital subscription services and events, Politico will launch a print edition on 23 April, distributing between 25,000 and 30,000 copies in Brussels, and at political and transport hubs in other major European centres such as London, Paris and Berlin.

Harris said the firm’s investment in the project was a “substantial, seven-figure commitment”.

Ryan Heath – a former adviser to the recent president of the EU, José Manuel Barroso, and a former spokesman for EU commissioner and vice president, Neelie Kroes – will be the project’s senior EU correspondent.

Hires also include Pierre Briançon, London-based Europe editor of Reuters Breakingviews, Nicholas Vinocur, also from Reuters.

Politico’s European executive editor Matt Kaminski said: “We are trying to find people who knew or understood why Politico brings such a unique approach; who get the idea you have to be irreverent, but it will be a different bird to what it is in the US.

“You want a varied newsroom, but at the minimum you need Europeans who have the sources.”

Kaminski said that Vincour, who will focus on France, “knows a lot of the players and can write independent journalism”.

Politico announced last September it was partnering with German media group Axel Springer to launch a joint venture in Europe, and the two companies revealed they were buying Brussels-based media outlet European Voice at the end of last year.

The two companies said the acquisition was designed to provide an “anchor” for a European arm of Politico incorporating free and paid online offerings, events and a print newspaper.

European Voice owner and publisher Shéhérazade Semsar-de Boisséson is staying with the company as managing director in charge of commercial operations for the European operation.

The first big name attached to the project was Die Welt EU correspondent Florian Eder, who is managing editor.

Founded in 2006, Politico has built its business by focusing on the US political elite in Washington, where it also prints a newspaper.