Quantonation Ventures, a firm based in Paris and New York, closed its second fund at €220 million on February 18, 2026. The Quantonation €220M quantum fund beat its €200 million goal and drew more money than expected. It's more than twice the size of the first fund from 2018, which was €91 million. This move comes as some worry quantum tech might hit a rough patch, but investors keep backing it.
Key Takeaways
- Quantonation's new fund hit €220 million, topping its target and making it the biggest dedicated quantum investor by assets.
- The fund is over twice as large as the first one, which did well in global rankings.
- It has money from old backers like Bpifrance and new ones like the European Investment Fund and Toshiba.
- Already invested in 12 companies, with plans for 25 total in quantum computing, sensing, and more.
Background
Quantonation started in 2018. It focuses on turning deep science into products people can use. Think quantum computers, sensors that see tiny things, and materials stronger than steel. The first fund put money into 27 companies around the world. Some names: PASQAL for quantum processors, Nord Quantique for cold tech, and Multiverse Computing for software that runs on quantum machines.
That first pot of €91 million ranked high among similar funds. It spread bets across Europe, North America, and Asia-Pacific. Investors saw returns good enough to come back for more. And they did. All the big names from round one rejoined. Vertex Holdings stayed in. So did Fonds National d’Amorçage 2, run by Bpifrance for the French government. Bradley M. Bloom, who helped start Berkshire Partners, stuck around too.
But it's not just repeats. New players jumped in. The European Investment Fund added cash. Grupo ACS, Novo Holdings, Planet First Partners, and Toshiba all signed on. Toshiba knows hardware. They make chips and sensors. Novo Holdings invests in life sciences. This mix shows wide belief in quantum's next steps.
Quantum tech has hype. Governments pour billions. The U.S., China, EU all race for leads. Last year, global funding hit $5 billion, a record. Yet progress is slow. Quantum machines need perfect cold. Errors creep in easy. Some call it a bubble. Others say it's like the internet in the 90s—messy start, huge payoff later.
Quantonation bets on the payoff. They see tech shifting from labs to factories. From tests to sales. Their first fund proved it could work. Now they scale up.
Key Details
The new fund, Quantonation II, already has 12 investments. It aims for 25 companies total. Bigger pot means bigger first checks. Up to €12 million early. Even €20 million for winners over time. That helps firms through long build phases. Quantum isn't quick software. It needs factories, tests, supply lines.
Recent bets show range. Diraq builds quantum chips with fewer errors. Pioniq makes advanced materials. Chiral Nano works on tiny structures for better tech. Qblox handles control systems for quantum setups. Project11 secures blockchain with quantum-proof methods. Resolve Stroke uses sound waves to spot brain issues fast. Steerlight develops LiDAR for cars and robots.
Partners lead the charge. Christophe Jurczak, Olivier Tonneau, Will Zeng. They scout Europe, U.S., Asia. Focus on pre-seed to Series A. Not just computing. Networking to link quantum machines. Sensing for super accuracy. Materials to make it all real.
The raise went fast. Oversubscribed means demand beat supply. Investors want in before others. It beats the €200 million plan. Now Quantonation tops charts as biggest quantum-only fund.
Investors and Strategy
Returning backers prove track record. Bpifrance ties to France's push. Vertex from Singapore eyes Asia growth. New ones bring fresh angles. European Investment Fund backs EU tech. Toshiba adds Japan know-how. Novo from Denmark funds health plays. Grupo ACS builds big projects. Planet First eyes green tech.
Strategy widened. First fund hit pioneers. Now it's factories and sales. Hardware, software, chains all grow together. Like building a car—you need engine, wheels, roads.
“Physics has been a powerful engine for civilizational progress,” said Partner Will Zeng. “Our oversubscribed new fund adds fuel to that engine. We’re backing founders and teams building world-changing companies rooted in better physics and driving the next industrial revolutions.”
Zeng's words hit home. Physics drove steam engines, electricity, computers. Quantum could do the same. Or more.
Teams at Quantonation talk daily with founders. They check labs, test gear. One recent trip: Australia for Diraq. Silicon spins better there. Another: Netherlands for Qblox. Cryogenics rule.
Fund size lets longer holds. Some quantum firms take 10 years. Not like apps that flip fast.
What This Means
This fund says quantum won't freeze up soon. Investors shrug off winter talk. They see cash coming. Pharma for drug sims. Finance for risks. Logistics for routes. Defense for codes.
Bigger checks mean fewer small bets. Quantonation picks winners early. Supports through rough spots. That cuts failures. Boosts hits.
Global race heats. China builds machines. U.S. funds IBM, Google. EU via Quantonation. Toshiba links Japan. Asia-Pacific opens.
Companies feel it. Diraq scales chips. Resolve saves lives sooner. Steerlight eyes self-driving cars. NASA's recent rocket fixes show space needs precise tech too. Quantum sensing fits.
Workers benefit. Jobs in fabs, software, tests. Paris hub grows. New York too. Students flock to physics degrees.
Risks stay. Tech might stall. Money could dry if no wins. But this raise bucks that. Others watch. More funds may follow.
Supply chains shift. Rare earths for chips. Cold systems. All need scaling. Quantonation II funds that stack.
Health plays grow. Stroke detection. Drug design. Pecans help hearts, but quantum speeds new meds.
Finance too. Blockchain safe from quantum hacks. Project11 leads.
Economy wide. Quantum adds trillions say experts. Not tomorrow. But funds like this pave way.
Backers gain. First fund topped charts. Second could too. Early in gets rewards.
Frequently Asked Questions
What is Quantonation Ventures?
It's a venture firm started in 2018. Bases in Paris and New York. Invests in quantum computing, sensing, materials, and physics tech turning science into products.
How does this fund compare to the first?
The new one is €220 million. First was €91 million. It's oversubscribed, beat target, and plans bigger bets on 25 companies.
Why invest in quantum now?
Investors see shift from labs to factories. Tech nears real use in drugs, finance, sensing. Records show funding up despite slow progress.
Frequently Asked Questions
What is Quantonation Ventures?
A venture firm founded in 2018 with offices in Paris and New York, investing in quantum computing, sensing, materials, and physics-based technologies to bring lab science to market.
How does the second fund differ from the first?
The second fund raised €220 million, over twice the €91 million of the first, which performed in the top quartile. It allows larger checks and support for 25 companies.
Who are the key investors in the new fund?
Returning: Vertex Holdings, Bpifrance, Bradley M. Bloom. New: European Investment Fund, Grupo ACS, Novo Holdings, Planet First Partners, Toshiba.
