Quantonation Closes €220M Second Fund to Expand Global Quantum Investment Strategy

New updates have been reported about Quantonation.

Quantonation has closed an oversubscribed second fund of €220 million (around $260 million), more than doubling the size of its first vehicle and signaling that institutional appetite for quantum and deep physics remains strong despite the lack of near-term industrial-scale quantum computing. Partner Will Zeng said the more mature state of the sector since the firm’s 2018 launch has shifted the pipeline toward a broader range of opportunities, including critical “picks and shovels” providers supporting quantum hardware and software stacks.

Fund II has already committed capital to 12 startups and is targeting a portfolio of roughly 25 companies spanning quantum software, industrial layers needed for quantum advantage, and adjacent physics-based domains such as photonics and lasers. Quantonation’s expanded mandate is backed by returning LPs like Vertex Holdings and Bpifrance’s Fonds National d’Amorçage 2, as well as new investors including the European Investment Fund, Grupo ACS, Novo Holdings, Planet First Partners, and Toshiba, reinforcing its ability to invest globally from dual hubs in Paris and New York while backing companies across Europe, North America, and Asia.