Project Ventures debuts €5.8 million fund targeting DeepTech and AI startups linked to Imperial College London

Project Ventures, an early-stage VC firm rooted in the Imperial College London ecosystem, today announced the launch of its debut €5.8 million (£5 million) fund, backing pre-Seed and Seed-stage startups at the intersection of DeepTech and AI.

According to the firm, they are the first independent, alumni-powered VC fund dedicated to the Imperial startup ecosystem; investing between €116k (£100k) and €349k (£300k) into its portfolio companies with three investments already completed to-date (Tewke, NexusAM, and Neubond).

“It’s a proud moment to officially launch our debut fund which has the Imperial ecosystem at its heart. Imperial has been an integral part of my own journey and I’m excited to establish the alumni-backed venture model used to great success across leading US universities within the Imperial community,” says Shahryar Barati, Founder and Managing Partner of Project Ventures.

He adds: “This is such an exciting moment for DeepTech, with AI accelerating development cycles that historically took years while bringing an entirely new intelligence layer into the physical world. Imperial’s depth across science, engineering and medicine makes it an exceptional ecosystem from which to find and back companies at that intersection, and our deep roots across the Imperial community put us in a particularly strong position to support these pioneering businesses from an early stage.”

Project Ventures’ debut fund joins a wider wave of new European investment vehicles targeting DeepTech, AI and research-led companies in 2026.

EU-Startups has reported approximately €783 million across ten relevant fund announcements, including London-based Transition Ventures’ €128 million Fund II for companies at the intersection of AI and the physical world, Lansdowne Partners’ €128.9 million first close for a vehicle commercialising UK university IP, and Creator Fund’s €48.8 million fund for scientific founders emerging from European universities.

At the earlier end of the market, Germany’s Vanagon Ventures closed a €20 million debut fund targeting pre-Seed DeepTech and AI companies, while Paris-based 360 Capital raised €85 million for a technology-transfer fund working with universities and research centres.

“We’ve hired from Imperial’s impressive pool of graduate and PhD talent to fill a wide range of positions, from interns to technical leads as we’ve grown Tewke, so partnering with an Imperial-rooted VC felt like a natural next step. While it’s relatively common to see alumni-backed VCs in the US, it’s almost unheard of in the UK. For us, it’s exciting to be backed by a fund that’s building that exact model here,” says Rowan Dixon, co-founder of Tewke.

Founded in 2023, Project Ventures invests in Deep Tech x AI companies emerging from and connected to the Imperial College London ecosystem. The firm backs pre-Seed and Seed-stage founders building systems that bridge the digital and physical worlds, with a focus on sectors including energy and climate, advanced manufacturing, robotics and healthcare.

Led by Shahryar Barati, Founder & Managing Partner of Project Ventures and three-time Imperial alumnus, the firm’s alumni-powered model mirrors more established alumni-backed venture networks commonly seen across the US.

More than 80% of the fund’s limited partners (LPs) are Imperial alumni, reflecting its community-driven model.

The firm has already backed three companies reflecting its DeepTech and AI thesis:

• Tewke, an intelligent home operating system enabling home energy optimisation and decentralised energy infrastructure
• NexusAM, a real-time AI-powered quality assurance platform for metal 3D printing that detects manufacturing defects during production
• Neubond, a wearable NeuroTech platform delivering personalised, closed-loop therapy for stroke rehabilitation and recovery

Patrick Sagastegui Alva, co-founder of Neubond , says: “For us, it is never only about the capital. We wanted people around the company who understood where Neubond came from, what we are trying to build, and who could genuinely help us along the journey. Building a MedTech university spin-out comes with a very specific set of challenges. Alongside building the technology and the business, there is IP, clinical evidence, regulation, technology transfer and a long scientific development journey behind the company.

“Having investors who understand those additional layers, and what it takes to translate scientific innovation into a commercially successful medical technology, is therefore very important to us.”

Project Ventures is aiming to close its debut fund by summer 2027, while continuing to build its pipeline of Imperial-linked startups. Over time, the firm sees potential to extend its alumni-powered model to other leading technical university ecosystems across Europe.

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