Insider Brief
- The €15m QDNL Participations fund helps researchers turn their technology into VC-investable startups
- Chad Rigetti built NASDAQ-traded quantum computing company Rigetti Computing
- At QDNL Participations, Rigetti will invest, support portfolio companies, and foster international connections
PRESS RELEASE — Quantum computing pioneer Chad Rigetti is joining QDNL Participations as a Venture Partner. The €15 million fund was recently launched to help create a startup and venture capital hotbed around the thriving ecosystem of Dutch quantum technology research.
As a founder, executive, and scientist, Rigetti knows how to develop quantum information technologies and take them from the lab to the market. His Silicon Valley startup, Rigetti Computing, was founded in 2013 to apply quantum computing to tackling the world’s biggest challenges. Backed by Y Combinator and Andreessen Horowitz, the company is now a publicly-traded world-wide leader in the sector.
At QDNL Participations, Rigetti will serve as Venture Partner. He’ll lead new investments, provide guidance to portfolio companies, and support the development of the fund and its strategy. He will also contribute to the vision and strategy for the Quantum Delta NL ecosystem at large.
“Rigetti Computing put quantum computing on the radar for many in both the public and private markets alike,” says Michael Jackson, a member of QDNL Participations’ board and investment committee. “Adding Chad to the QDNL Participations team is a big win. It shows that Europe, and particularly the Netherlands, has a world class quantum ecosystem, with the potential to build leading quantum companies that can generate outstanding returns for investors.”
“There’s been tremendous progress in the development of quantum technologies over the past decade, but the quantum sector as a whole is still just getting going. I’m excited to help support brilliant founders and companies who are striving to build long-term category defining companies,” Rigetti said.
“Chad is one of the most capable founders I have met. He’s also an incredible scientist and a wonderful person. I’m thrilled to work together with him in this new capacity,” said Ton van ‘t Noordende, Managing Director of QDNL Participations.
Launched by Quantum Delta NL in March 2023, QDNL Participations will invest in early-stage quantum technology startups, typically leading the round with investments of up to €1.5 million. It will also help research teams launch startups based on their technology.
Besides that, the fund will offer €50,000 to teams developing promising quantum technologies, before they have even incorporated as a startup. Supplied via a SAFE note agreement, this funding will later convert into an equity investment when the startup is ready to move forward as a business.
Backed by Quantum Delta NL, a foundation that exists to nurture and develop the Dutch quantum computing industry, the fund is designed to provide researchers with the financial support they need to prepare their research for commercialization.
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