It depends on both of them.
In fact, the projectile begins its motion with an initial velocity of [tex]v_0[/tex] and an angle of [tex]\alpha[/tex]. On the y-axis (vertical direction), it is an accelerated motion with acceleration equal to -g (gravitational acceleration). The vertical velocity of the projectile at any time t is given by
[tex]v_y (t) = v_0 sin \alpha + gt [/tex]
and as it can be seen, this depends on both initial velocity and angle.