Quantum VC QDNL Secures €25M First Close for Innovative New Fund

According to the latest ‘State of Quantum 2024’ report, venture capital investment in quantum computing experienced a significant decline of 50% last year. This drop saw funding plummet from $2.2 billion in 2022 to just $1.2 billion, as investors shifted their focus towards the burgeoning field of Generative AI. However, government spending on quantum technologies is projected to reach an impressive $40 billion over the next decade, indicating a vibrant future for the sector. A new VC fund in Europe is poised to capitalize on this trend.

QDNL Participations: A New Player in Quantum Investment

The uniquely named QDNL Participations has successfully closed its first round of funding at €25 million, with plans to establish a total fund of €60 million aimed at supporting early-stage quantum startups globally.

Expanding Horizons Beyond the Netherlands

While QDNL’s previous fund of €15 million concentrated on the Dutch quantum ecosystem, the firm is now looking to broaden its investment scope internationally. Notable startups previously supported by QDNL include:

• Qblox
• QuantWare
• QphoX
• Q*Bird

Insights from Industry Experts

In an interview with TechCrunch, Ton van ‘t Noordende, General Partner at QDNL Participations, emphasized the global nature of quantum technology. He stated, “Quantum is a global field. There’s been incredible research done in the past decade or so and we’ve seen the emergence of a new startup ecosystem, with over 600 companies coming up. Additionally, more than $42 billion has been invested by over 20 governments in the last two to three years, which has built the necessary infrastructure, including clean rooms and facilities, effectively de-risking the technology.”

The Netherlands: A Growing Quantum Hub

QDNL’s establishment is a clear indicator that the Netherlands is positioning itself as a key player in the quantum computing landscape. The government, along with EU financial support, has already initiated a project known as Quantum Delta NL, which is also an investor in QDNL.

Notable Team Members and Advisors

The QDNL team boasts impressive credentials, including:

• Chad Rigetti: Quantum computing pioneer and venture partner in the US
• Kris Kaczmarek: Specialist in quantum VC, serving as investment director
• Nadia Carlsten: CEO of the Danish Centre for AI Innovation
• Charles Marcus: University of Washington expert

Future Prospects for Quantum Computing

Despite a rocky start to the year, with industry leaders like Mark Zuckerberg and Nvidia’s Jensen Huang expressing skepticism about the timeline for quantum advancements, Nvidia has since turned its focus back to quantum. The company recently announced a dedicated Quantum Day event scheduled for March, highlighting its commitment to the field.

As the quantum computing landscape continues to evolve, funds like QDNL Participations are essential for fostering innovation and supporting the next generation of quantum technologies.