Imperial Alumni Launch $6.8M Fund to Back DeepTech and AI Startups

Jan de Vries · 2026-09-21

### A New Kind of Venture Fund Rooted in University Talent Project Ventures just launched its first fund—$6.8 million (€5.8 million)—to back pre-Seed and Seed-stage startups at the intersection of DeepTech and AI. But this isn't your typical VC. It's the first independent, alumni-powered fund dedicated to the Imperial College London ecosystem, and it's already making waves. Led by Shahryar Barati, a three-time Imperial alumnus, the firm invests between $136k and $409k (€116k to €349k) per company. So far, they've backed three startups: Tewke, NexusAM, and Neubond. ### Why This Fund Matters for DeepTech and AI DeepTech is having a moment. AI is speeding up development cycles that used to take years, and it's bringing a whole new layer of intelligence into the physical world. Imperial College London—with its deep expertise in science, engineering, and medicine—is the perfect place to find and fund companies at that intersection. "It's a proud moment to officially launch our debut fund which has the Imperial ecosystem at its heart," says Barati. "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." 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." ### The Alumni-Powered Model More than 80% of the fund's limited partners (LPs) are Imperial alumni. That's a big deal. While alumni-backed VCs are common in the US, they're almost unheard of in the UK. This fund is changing that. "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," says Rowan Dixon, co-founder of 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." ### The Portfolio: Three Startups to Watch Project Ventures focuses on sectors like energy and climate, advanced manufacturing, robotics, and healthcare. Here's a look at their first three investments: - **Tewke**: An intelligent home operating system that optimizes home energy use and supports decentralized energy infrastructure. - **NexusAM**: A real-time AI-powered quality assurance platform for metal 3D printing that catches manufacturing defects during production. - **Neubond**: A wearable NeuroTech platform delivering personalized, closed-loop therapy for stroke rehabilitation and recovery. ### A Growing Wave of European DeepTech Funds Project Ventures isn't alone. In 2026, we've seen a surge of new European funds targeting DeepTech, AI, and research-led companies. According to EU-Startups, ten relevant fund announcements total approximately $920 million (€783 million). That includes: - London-based Transition Ventures' $150 million (€128 million) Fund II for AI and physical world startups. - Lansdowne Partners' $151 million (€128.9 million) first close for a UK university IP vehicle. - Creator Fund's $57 million (€48.8 million) fund for scientific founders from European universities. - Germany's Vanagon Ventures' $23 million (€20 million) debut fund for pre-Seed DeepTech and AI. - Paris-based 360 Capital's $100 million (€85 million) technology-transfer fund. It's clear: Europe is betting big on deep tech. And with alumni networks like Imperial's stepping up, the UK is starting to catch up to the US model. ### What This Means for Founders If you're building a DeepTech or AI startup connected to Imperial, Project Ventures could be your first check. They're not just writing checks—they're building a community. With over 80% of LPs being alumni, the fund is deeply rooted in the university's talent pool. As Patrick Sagastegui Alva, co-founder of Neubond, puts it: "For us, it's about more than money. It's about having partners who understand the science and the journey." For US investors and founders watching Europe, this is a trend to track. The alumni-powered venture model that built Silicon Valley is now taking root across the pond.