Project Ventures has launched a £5 million fund to support AI and deep tech startups affiliated with Imperial College London, with over 80% of its investors being Imperial alumni. The fund has already made investments in three startups, with amounts ranging from £100,000 to £300,000.
TL;DR
- Project Ventures launches a £5M fund focused on Imperial-affiliated AI and deep tech startups.
- Over 80% of the fund's investors are Imperial alumni, a model more common in the US than the UK.
- The fund has already invested in three startups, including Tewke, NexusAM, and Neubond.
What happened
Project Ventures, founded by Imperial alumnus Shahryar Barati, has launched a £5 million fund to support deep tech and AI startups linked to Imperial College London. The fund has already invested in three startups: Tewke, a home-energy platform; NexusAM, an AI quality-assurance platform for metal 3D printing; and Neubond, a wearable stroke-rehabilitation startup. The investments range from £100,000 to £300,000.
The fund is notable for its high proportion of alumni investors, with over 80% of its limited partners being Imperial alumni. This model is more common in the United States but is relatively new to the United Kingdom. Project Ventures has adopted a soft-launch approach, making investments for several months before the official announcement. For instance, it participated in a £1.5 million funding round in February alongside other investors.
Why it matters
This fund represents a new approach to startup funding in the UK, drawing inspiration from the alumni-led venture model popular in US universities. It could potentially provide a significant boost to AI and deep tech startups affiliated with Imperial, offering them access to capital and a network of experienced investors.
However, the fund's reliance on a single alumni network for the majority of its investments could pose a risk. It remains to be seen whether this model can compete with larger, more generalist deep tech investors or if it will face competition for the same group of founders linked to Imperial.
Key facts
- Project Ventures has launched a £5 million fund to support Imperial-affiliated AI and deep tech startups.
- Over 80% of the fund's investors are Imperial alumni.
- The fund has already invested in three startups: Tewke, NexusAM, and Neubond.
- Investments range from £100,000 to £300,000.
- Project Ventures participated in a £1.5 million funding round in February alongside other investors.
- The fund is managed by Shahryar Barati, an Imperial alumnus with three degrees from the university.
- The fund is separate from the university and uses alumni funds rather than an institutional EIS fund.
- In the first half of 2026, UK deep tech and life sciences startups raised $10.3 billion, accounting for 41% of all European deep tech funding, according to HSBC Innovation Banking and Dealroom.
Context
This launch is timely for the sector, as UK deep tech and life sciences startups raised $10.3 billion in the first half of 2026, accounting for 41% of all European deep tech funding. However, the fund's success will depend on its ability to find deals that can compete with those of larger, more generalist deep tech investors.
Imperial College London also maintains its own investment fund, the Imperial College Enterprise Fund, managed by Parkwalk, which is currently in its third round with 12 investments. The new fund from Project Ventures is separate from this and uses a different model, relying on alumni investors rather than an institutional EIS fund.
