QDNL Participations Announces €60 Million Global Fund For Early Stage Quantum Startups, With €25 Million First Close
Insider Brief
- QDNL Participations has announced the €25 million first close of its new fund, aiming to invest in early-stage quantum technology startups globally, with a target of €60 million.
- The firm has expanded its team and expertise, appointing notable figures like Chad Rigetti and Kris Kaczmarek, and securing backing from diverse investors, including the Quantum Delta NL Foundation.
- QDNL Participations seeks to address the shortage of specialist quantum investors by shaping category-defining companies and building a globally sustainable quantum industry.
- Image: Ton van ‘t Noordende, General Partner at QDNL
PRESS RELEASE — Quantum-focused VC firm QDNL Participations has today announced the first close of its new fund, which significantly expands its vision to back early stage quantum technology startups, wherever they are based.
The first close amounts to €25 million, with the firm targeting €60 million for the fund.
QDNL Participations was established to accelerate the thriving Dutch quantum technology ecosystem with a €15 million fund. That fund has invested in nine of the Netherlands’ most high-potential quantum startups, including Qblox, QuantWare, QphoX and Q*Bird.
The new fund takes the firm’s focused and active investment thesis and expands it to quantum startups across the world. In preparation for this, QDNL Participations has grown its team. Last year it appointed Silicon Valley based quantum computing pioneer Chad Rigetti as venture partner, and London-based Kris Kaczmarek recently joined as investment director from quantum VC firm 2xN.
The firm has also bolstered its in-house expertise with the appointment of two special advisors, Nadia Carlsten (CEO of the Danish Centre for AI Innovation) and Charles Marcus of the University of Washington.
The fund’s investors include family offices, high-net-worth individuals, funds-of-funds and endowments, along with continued support from the Quantum Delta NL Foundation.
The firm’s ultimate goal is to become the definitive investor in quantum technologies globally, at a time when fields like quantum computing and quantum security are increasingly expanding beyond the lab and into early commercialization.
While few VC firms invest globally, QDNL Participations has identified a lack of specialist investors as a significant inhibitor in the development of quantum technologies around the world.
“Our aim is to invest in, and help shape, category-defining quantum technology companies,” says Ton van ‘t Noordende, General Partner at QDNL Participations.
“We at QDNLP believe now is the optimal window for early stage quantum investments, with maturing technology and markets combining with significant non-dilutive capital tailwinds to create ideal conditions for new and early stage ventures. Our goal is to help identify and build the next wave of global leaders in quantum technology, and become the best performing quantum-specific venture firm.
“And that level of expertise really is required. The quantum space is just too specialized, and the companies and market so unique, that a generalist or hands-off investment model just won’t work.”
Pieter de Witte, Director of Research Programmes & IP at Quantum Delta NL, said: “Securing access to capital is essential for scaling our startups. We are thrilled to continue our support by backing QDNL Participations with an anchor investment to develop this specialized quantum investment fund. Building a sustainable quantum industry in the Netherlands for the long term is the key pillar of our foundation, and the launch of this fund is a part of our strategy.”
Deals from the new fund will be announced in due course.
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Matt Swayne
With a several-decades long background in journalism and communications, Matt Swayne has worked as a science communicator for an R1 university for more than 12 years, specializing in translating high tech and deep tech for the general audience. He has served as a writer, editor and analyst at The Quantum Insider since its inception. In addition to his service as a science communicator, Matt also develops courses to improve the media and communications skills of scientists and has taught courses.
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MENTIONED IN THE ARTICLE
Quantum Delta NL
Quantum Delta NL is the public-private partnership of global tech companies, government agencies, and major quantum research centers in the Netherlands. The mission of Quantum Delta NL is to position the Netherlands as a leading ecosystem in quantum technologies. In November 2022 Quantum Delta NL (QDNL) opened the first location of the House of Quantum, in Delft. The House of Quantum is to become the world's first national quantum campus consisting of several multi-tenant buildings for quantum companies across the Netherlands.
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Qblox
Qblox specializes in advancing quantum technology through scalable control electronics crucial for quantum computing. They are known for their modular quantum control stacks, which enable efficient qubit control and readout for diverse applications. The company is based in the Netherlands and is a spin-off of QuTech.
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QuantWare
QuantWare develops and sells quantum hardware including superconducting QPUs and attenuators.
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QphoX
QphoX is a quantum transduction company building the world's first quantum modem™ device, connecting quantum computers across a quantum network.
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Falqon Systems (formerly Q*Bird)
Q*Bird is a Dutch firm founded in January 2022 as a spin-off of the Delft University of Technology that provides quantum secure communication. The company partners with major aerospace and defense organizations like Thales Alenia Space to develop and test integrated photonic circuits. In September 2026, Q*Bird announced its transition into Falqon® Systems, introducing a new corporate identity that reflects the company’s strategic evolution from pioneering scalable quantum communication technologies to building the infrastructure required for operational Quantum Secure Networks
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University of Washington
The University of Washington, located in Seattle, Washington, is a state-funded research university. It was founded on November 4, 1861, originally named Territorial University. Being one of the oldest universities on the West Coast, it was established in Seattle about ten years after the city's founding.
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