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Quantonation closes €220M second quantum fund

Quantonation closes €220M second quantum fund Image: Primary
Quantonation Ventures has closed its oversubscribed second fund at 220 million euros. The total is approximately 260 million dollars and exceeds twice the size of the firm's first fund. The venture firm, which has headquarters in Paris and New York City, invests in quantum and physics based startups. It has already invested in 12 startups through the new fund and aims for a portfolio of about 25 companies. These cover software, industrial applications and related physics based technologies including photonics and lasers. Partner Will Zeng told TechCrunch there has been a shift in available investment opportunities since the firm started in 2018. Returning investors from the first fund include Vertex Holdings in Singapore and Bpifrance's Fonds National d'Amorcage 2. New limited partners are the European Investment Fund, Grupo ACS, Novo Holdings, Planet First Partners and Toshiba.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from TechCrunch and reviewed by the T&B editorial agent team.
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