The quantum technology sector just received its most significant financial vote of confidence to date. Quantonation Ventures has officially closed its second early-stage fund at €220 million, smashing its initial target. With heavyweights like Toshiba and Novo Nordisk placing massive bets on the firm, this milestone establishes the largest dedicated capital pool for deep physics and quantum startups globally. It signals a major shift from experimental science to industrial reality.
A Historic Milestone for Deep Tech Investment
Quantonation Ventures has firmly cemented its position as the world leader in quantum venture capital. The firm originally set out to raise €200 million for its second vehicle, known as Fund II. However, investor demand was so intense that the round became oversubscribed. They eventually capped the close at €220 million.
This success stands in stark contrast to the broader venture capital market, which has faced significant headwinds over the last eighteen months. While software and consumer apps struggled to find funding, deep tech remains a priority for smart money. Investors are looking for tangible, hard-to-replicate technologies that solve massive global problems.
The firm operates out of Paris and the United States. They have already built a reputation for spotting winners early. Their first fund, which closed at €91 million, backed industry giants like Pasqal. That company has since become a flagship for European quantum computing.
Key Investors in Fund II:
- Novo Holdings: The investment arm of the Danish pharmaceutical titan Novo Nordisk.
- Toshiba: The Japanese electronics conglomerate with deep roots in hardware.
- Vertex: A venture capital platform backed by Temasek, the Singapore state investor.
- Bpifrance: Investing through the Fonds National d’Amorçage 2 on behalf of the French State.
- European Investment Fund (EIF): A critical supporter of European innovation.
This diverse roster of limited partners proves that quantum is no longer a niche scientific interest. It is now a strategic imperative for nations and massive corporations alike.
Quantonation Ventures quantum computing chip fund investment
Moving Beyond Just Computing Hardware
Many people hear “quantum” and immediately think of supercomputers that will break encryption. While that is part of the story, Quantonation takes a much broader view. The new fund will not just chase the dream of a universal quantum computer.
Instead, the investment thesis covers the entire spectrum of “deep physics.”
This includes ultra-precise sensors that can map the underground or detect diseases early. It covers new communications networks that are impossible to hack. It also involves molecular design platforms that use quantum principles to discover new drugs.
Christophe Jurczak, the managing partner at Quantonation, emphasized a crucial shift in the industry mindset.
“Quantum has spent decades being described as five years away. That wasn’t a failure of physics, but of ecosystems. What’s changed is alignment: hardware, software, supply chains, and industrial demand.”
This alignment is what Fund II targets. The firm plans to invest in the “interlocking stack” of technologies. This means funding the companies that build the cables, the cooling systems, the software interfaces, and the specific applications that make quantum machines useful today, not just in ten years.
Why Global Giants Are Betting Big
The involvement of corporate backers like Novo Holdings and Toshiba tells a compelling story about where the industry is headed. These are not just financial investments. They are strategic plays.
Novo Holdings is deeply invested in the future of healthcare. Quantum simulation offers the potential to model complex molecular interactions that classical computers simply cannot handle. This could cut years off the drug discovery process. By backing Quantonation, Novo is effectively buying a front-row seat to the next revolution in medicine.
Toshiba, on the other hand, understands the hardware constraints. As a leader in electronics, they see the need for new materials and sensing technologies.
The Capital Allocation Strategy:
| Investment Stage | Focus Area | Goal |
|---|---|---|
| Pre-Seed | Lab-to-Market | Turn academic papers into viable prototypes. |
| Seed | Early Commercialization | Build initial teams and secure first pilots. |
| Series A (Follow-on) | Scaling | Expand global reach and industrial partnerships. |
This structured approach allows Quantonation to support founders from the moment they leave the physics lab. It provides a safety net that generalist investors often cannot offer because they lack the technical expertise to evaluate the science.
The Era of Industrial Quantum is Here
We are witnessing the maturation of the quantum economy. Five years ago, the sector was defined by hype and theoretical promises. Today, it is defined by engineering roadmaps and supply chains.
Quantonation has already invested in over 27 companies across more than 10 countries through its funds. Their portfolio includes companies working on everything from photonic computing to atomic clocks. This global footprint gives them a unique vantage point. They can see trends emerging in Singapore before they hit Silicon Valley, or spot a breakthrough in Paris before it makes waves in Tokyo.
The oversubscription of Fund II suggests that the “winter” for deep tech funding is thawing. Smart capital understands that deep physics innovations take time to mature. However, once they do, they create defensive moats that are almost impossible for competitors to cross.
Christophe Jurczak noted that progress comes from multiple systems working together, not a single breakthrough. This “ecosystem first” approach is likely why LPs flocked to this fund. They are not looking for a lottery ticket. They are investing in the infrastructure of the next century.
The firm is now the largest quantum fund globally based on assets under management (AUM). This scale gives them the power to lead rounds and support their portfolio companies through the difficult “valley of death” that often kills hardware startups.
The closing of this €220 million fund is a signal flare. It tells founders that the money is there if the science is sound. It tells governments that the race for quantum sovereignty is accelerating. And it tells the world that the age of quantum utility is closer than we think.
What do you think about the future of quantum technology in our daily lives? Is it hype, or is it the next internet? Share your thoughts in the comments below. If you are excited about deep tech, share this story on X or LinkedIn using #QuantumFuture and tag your tech-savvy friends!
