New solo GP firm backing early-stage AI and deeptech startups hits first close of maiden fund

Project Ventures, the solo GP firm founded by Shahryar Barati, has reached a first close of £1.2m for its maiden fund. The money is aimed at pre-seed and seed startups working in AI and deeptech, with a particular pull toward founders connected to Imperial College London.

That gives the fund a very specific lane. It is not trying to be a broad, all-comers seed vehicle. It is starting small, staying close to a university network, and leaning into areas where technical talent and research links matter more than glossy pitch decks.

Barati’s setup also fits a wider pattern in venture: one-person firms trying to move quickly and build focused deal flow without the overhead of a larger partnership. That can work well at the earliest stages, where access and judgment matter a lot and cheque size is less important than being useful.

The £1.2m first close is modest by venture standards, but it is enough to get a new firm moving. For founders around Imperial, it gives them another option right at the point where AI and deeptech ideas are still fragile and need patient backing rather than big-fund theatrics.