What Phystech Ventures does

Phystech Ventures is a London-headquartered, early-stage deeptech venture capital fund founded in 2013 by Ivan Protopopov, with a stated focus on startups working in next-generation computing, life sciences and biotechnology, energy, mobility, space technology, and advanced materials. The firm is led by Managing Partners Ivan Protopopov (also CEO) and Daniel Shaposhnikov, both with operating and investing track records dating to 2007-2010; a third co-founder, Petr Lukyanov, is listed on the firm's leadership page. The fund positions itself as a value-add deeptech specialist, offering portfolio companies capital along with mentorship, board involvement, regulatory navigation support, and introductions to corporate partners and potential customers.

The firm has no proprietary technology product; its "product" is a single venture capital fund with negotiated, individually tailored investment terms in portfolio companies. Its go-to-market is direct deal sourcing supported by a content marketing presence (Substack "Deeptech Blog") and structured mentorship at the Alchemist Accelerator, both run through Managing Partner Daniel Shaposhnikov. Distribution is global in scope but is operated through direct investment relationships rather than intermediaries.

Revenue mechanics follow the standard VC model: management fees on committed fund capital plus carried interest on successful exits. No fund size, AUM, fee rate, or realized carry figures are disclosed. The firm's investable base of 11-50 employees and lack of publicly reported fund closes or fund vintages imply a small-to-mid boutique profile, with the most recent disclosed portfolio outcome being the 2022 acquisition of partner-founded HyPoint by ZeroAvia in the hydrogen/aerospace vertical.

Name

Phystech Ventures

Legal name

Phystech Ventures

Website

https://phystech.vc

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Phystech Ventures is a London-based early-stage deeptech venture capital fund founded in 2013 that invests in startups across next-generation computing, life sciences, energy, mobility, and space technology, led by partners with multiple prior three-digit IRR exits.

Ownership category

akta.pro rank

Product category

Venture Capital / Private Equity

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

akta.pro secondary industry

Renewables & Energy Transition Funds (Solar, Wind, Hydrogen, CCUS) (FSANAEAD)

Keywords

• Venture capital fund
• Deeptech investments
• Early-stage startup funding
• Technology venture investing
• Private equity funding

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Venture Capital Returns: As a venture capital fund, Phystech Ventures generates returns through equity investments in deeptech startups. Revenue is derived from management fees and carried interest on successful exits. The firm has achieved 'four three-digit IRR exits' as an angel investor prior to founding the fund.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Phystech Ventures is an early-stage deeptech venture capital fund that invests in startups leveraging fundamental scientific advancements across AI/ML, biotechnology, energy, mobility, space technology, advanced materials, and next-gen computing. Beyond capital, the fund provides portfolio companies with deep industry knowledge, mentorship, board-level governance, and access to an extensive network of industry partners, corporate leaders, and potential customers.

Product overview

Phystech Ventures operates as a single deeptech venture capital fund rather than a platform with multiple products. The fund supports early-stage deeptech startups with investment capital, strategic guidance, and connections to corporate partners and customers. Their portfolio spans multiple technology verticals including AI/ML, energy and mobility, biotech, and space technology.

Differentiator

Problem solved

Functional benefit

Products and services

• Phystech Ventures Fund A deeptech venture capital fund that provides equity capital, mentorship, industry knowledge, and network access to early-stage startups developing breakthrough technologies in AI/ML, biotechnology, energy, mobility, space tech, advanced materials, and next-gen computing.

Quantifiable outcome

• Four three-digit IRR exits achieved as angel investor
• +1 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Portfolio CompaniescoreStrategic or Co-development PartnerPhystech Ventures works closely with portfolio companies providing not only capital but also deep industry knowledge, mentorship, and access to their extensive network of industry partners, corporate leaders, and potential customers. The goal is to help companies scale rapidly, navigate regulatory landscapes, and achieve market leadership.

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Lux Capital: Lux Capital is a US-based deeptech venture capital firm investing across frontier tech, energy, biotech, and space — directly comparable to Phystech Ventures in vertical specialization and stage focus.
• DCVC (Data Collective): DCVC is a deeptech-focused venture capital firm backing founders applying deep science to compute, biology, and energy. Its multi-vertical deeptech thesis mirrors Phystech's portfolio construction approach.
• IQ Capital: IQ Capital is a Cambridge and London-based deeptech VC focused on AI, machine learning, robotics, and advanced materials. Highly comparable as a European deeptech specialist with similar stage and sector mix.

Broad incumbents

• Breakthrough Energy Ventures: Backed by Bill Gates and a coalition of strategic LPs, Breakthrough Energy Ventures invests in climate and energy-transition deeptech at scale. Comparable as a deeptech investor in energy verticals that overlap with Phystech's energy/mobility focus.
• Khosla Ventures: Khosla Ventures is a large US venture firm with a substantial deeptech practice spanning AI, energy, biotech, and space. Comparable as a broader incumbent investing in deeptech categories overlapping with Phystech's verticals.
• Founders Fund: Founders Fund invests across frontier technology including biotech, energy, and advanced computing. Comparable as a broad incumbent with deeptech exposure similar to Phystech's investment themes.

Emerging players

• Entrepreneur First: Entrepreneur First is a London-based deeptech talent-investor that builds companies from technical founders. Comparable as an emerging European deeptech investor with overlapping AI and biotech investment themes.

Regional players

• Earlybird Venture Capital: Earlybird is a Berlin-based European venture firm with deeptech exposure across AI, mobility, and industrial tech. Comparable as a European VC operating in adjacent deeptech categories to Phystech.
• Atomico: Atomico is a London-based European tech venture firm investing across software, AI, and frontier technologies. Comparable as a London-headquartered VC with thematic exposure overlapping Phystech's verticals.
• Octopus Ventures: Octopus Ventures is a UK-based venture firm with significant deeptech, biotech, and B2B software investments. Comparable as a UK-headquartered VC operating in deeptech verticals that intersect with Phystech's portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/PhystechVC
• Facebookfacebook.com/phystechventures
• LinkedInlinkedin.com/company/3875461

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments36 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Phystech Ventures