Project Ventures, an Imperial College alumni-backed fund, hits £1.2m first close to back early-stage deeptech and AI founders
Updated: 7 days ago
A new fund is raising its money almost entirely from one university's graduates. It gives Imperial-linked founders another early cheque, and raises a familiar question about who else can reach that kind of network.
Project Ventures, a pre-seed and seed fund backing founders linked to Imperial College London, announced on 21 September 2026 that it has reached a first close of £1.2m, according to Dealroom. The fund is targeting £5m, Tech.eu reported, with a final close planned for summer 2027.
Who is behind it
The fund is run by Shahryar Barati, its founder and managing partner, who holds three degrees from Imperial. He is a solo general partner, meaning one person makes the investment decisions rather than a partnership.
According to Tech.eu, more than 80 per cent of the fund's limited partners, the people and institutions who put money into it, are Imperial alumni. The fund describes itself as "the first independent, alumni-powered VC fund dedicated to the university's startup ecosystem."
It will write cheques of £100,000 to £300,000 into companies applying science, engineering and AI to robotics, healthcare, climate, energy and advanced manufacturing. It has already invested in three companies: Tewke, a home energy platform; NexusAM, which uses AI to check the quality of metal 3D printing; and Neubond, which makes wearable technology for stroke rehabilitation.
"It's a proud moment to officially launch our debut fund, which has the Imperial ecosystem at its heart," Barati said, according to Tech Funding News.
Why the structure matters
Project Ventures operates independently of the university. Tech Funding News notes that Imperial already has its own vehicle, the Imperial College Enterprise Fund, managed by Parkwalk, so the two will sometimes look at the same companies.
Tech Funding News describes the fund as bringing the US university-backed venture model to the UK. For spinout founders, it adds another source of the first cheque, the one that is usually hardest to raise. Dealroom described the first close as "modest", but said it "reflects the appetite for solo GPs and micro-funds carving out narrow niches in AI and deeptech."
The same feature cuts the other way. A fund raised from one university's graduates is, by design, most open to founders connected to that university. According to Tech.eu, the fund plans to extend the model to other technical universities in Europe, which would widen the pool, but each fund would still be tied to its own alumni base.
The open question for founders outside those networks is whether the model spreads to universities with smaller alumni investor bases, or stays concentrated where early capital is already easiest to find.
Key takeaways
Project Ventures reached a £1.2m first close on 21 September 2026, towards a £5m target, with a final close planned for summer 2027.
More than 80 per cent of its investors are Imperial College London alumni, and it writes cheques of £100,000 to £300,000 at pre-seed and seed.
It has backed three companies so far: Tewke, NexusAM and Neubond.
It runs independently of Imperial, alongside the university's own Parkwalk-managed fund.
Alumni funds give spinout founders another early source of capital, but access depends on being inside the network.
Sources
Project Ventures launches £5M fund for Imperial-rooted deeptech and AI startups, Tech.eu, 21 September 2026
Solo GP's Project Ventures hits £1.2M first close for AI, deeptech fund, Dealroom, 21 September 2026
Project Ventures unveils £5M fund to back Imperial's deep tech and AI founders, Tech Funding News, September 2026
Frequently asked questions
What is Project Ventures?
Project Ventures is a pre-seed and seed fund backing founders linked to Imperial College London. It is run by founder and managing partner Shahryar Barati as a solo general partner, and operates independently of the university.
How much has Project Ventures raised?
Project Ventures announced a £1.2m first close on 21 September 2026. It is targeting £5m, with a final close planned for summer 2027.
How large are Project Ventures' investments and which sectors does it back?
The fund writes cheques of £100,000 to £300,000 into companies applying science, engineering and AI to robotics, healthcare, climate, energy and advanced manufacturing.
Which companies has Project Ventures invested in?
It has invested in three companies so far: Tewke, a home energy platform; NexusAM, which uses AI to check the quality of metal 3D printing; and Neubond, which makes wearable technology for stroke rehabilitation.
Who invests in the Project Ventures fund?
According to Tech.eu, more than 80 per cent of the fund's limited partners are Imperial College London alumni.
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