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Quantonation Ventures secures £60m for second quantum fund

Quantonation
Image credit: Marko Aliaksandr / Shutterstock

Quantonation Ventures has secured €70m (£60m) in the first close of its second early-stage quantum technology investment fund.

Founded in 2018, Quantonation is a VC firm that targets deep tech companies, particularly those developing quantum computing technology.

Through its first fund, Quantonation backed 27 companies, including London-based Orca Computing, which raised £12m in June 2022, and Bristol’s KETS Quantum Security, which raised £3.1m in 2021.

For its new fund, the Paris-based investor is targeting €200m (£171.2m). The Quantonation II fund will back pre-seed and seed-stage companies, with a target of funding 25 firms.

“With these resources, we can pursue scouting for the best quantum companies in the world and support a fantastic roster of founders in their entrepreneurial journey, including in new geographies for us,” said Quantonation managing partner Christophe Jurczak.

“This will also be a great opportunity to expand the team and deepen our scientific expertise beyond our current focus. We’re looking forward to a bright future for the quantum industry.”

Investors in the VC’s first fund have returned to back the second, including the state-backed French Seed Fund and Berkshire Partners co-founder Bradley M Bloom.

“The Quantonation team are using their collective expertise to identify and accelerate some of the most promising innovations in this rapidly emerging sector that will affect all of us in the years ahead,” said Bloom.

Quantum Computing, while still in the research and development phase, is an emerging tech area that has attracted major private and public investment.

The UK government in February announced a £45m investment plan for British quantum computing companies as part of its £2.5bn quantum strategy.

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