Imperial College London Alumni Launch $6.3M Fund for DeepTech and AI Startups

Jan de Vries · 2026-09-21

What if the next big breakthrough in AI or DeepTech came from a university lab you've never heard of? That's exactly what Project Ventures is betting on. The early-stage VC firm, rooted in the Imperial College London ecosystem, just launched its debut fund at €5.8 million—that's about $6.3 million. And they're putting it to work in pre-Seed and Seed-stage startups at the intersection of DeepTech and AI. ### A First for Imperial Project Ventures claims to be the first independent, alumni-powered VC fund dedicated to the Imperial startup ecosystem. They're investing between €116k and €349k (roughly $127k to $380k) in each portfolio company. So far, they've already backed three startups: Tewke, NexusAM, and Neubond. "It's a proud moment to officially launch our debut fund which has the Imperial ecosystem at its heart," says Shahryar Barati, Founder and Managing Partner. "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. 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." ### Riding the Wave of European DeepTech Investment Project Ventures' debut fund joins a wider wave of new European investment vehicles targeting DeepTech, AI, and research-led companies in 2026. According to reports, there's been approximately €783 million (about $850 million) across ten relevant fund announcements. That includes: - 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. - 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. ### The Alumni-Powered Model 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, a 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 approach. ### The Startups Already in the Portfolio The firm has already backed three companies that reflect 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. Rowan Dixon, co-founder of Tewke, shares his perspective: "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." ### Why This Matters For US investors and entrepreneurs, this signals a growing trend: European universities are increasingly becoming hotbeds for DeepTech and AI innovation, and alumni-backed funds are emerging to support them. It's a model that's been proven in the US—just think of the success of funds tied to Stanford, MIT, or Harvard. Now, it's making its way across the pond. If you're building in DeepTech or AI, especially if you have ties to Imperial, this could be an opportunity worth exploring. And for the rest of us, it's a reminder that the next wave of transformative companies might just come from a lab in London.