A New Force in Quantum Investment
55 North, a dedicated quantum technology venture capital fund, has successfully completed its first close with €134 million in capital commitments. This milestone positions 55 North as one of Europe’s largest funds focused exclusively on quantum innovation. Founded by experienced investors, the fund aims to support emerging companies developing transformative quantum technologies across computing, sensing, and communication sectors.
Backing Transformative Quantum Ventures
With its initial investments, 55 North has already made significant moves by backing IQM and Kiutra. IQM specializes in quantum computing hardware, developing scalable and high-performance quantum processors to accelerate commercial applications. Kiutra focuses on cryogenic cooling systems, a critical technology enabling the stable operation of quantum devices. These strategic investments reflect 55 North’s commitment to nurturing technologies fundamental for the realization of Europe’s quantum ambitions.
Strategic Impact for European Innovation
The launch of 55 North’s fund comes at a time when quantum technology is recognized as a key element in Europe’s technological independence and global competitiveness. By channeling capital into homegrown quantum startups, the fund supports a broader vision of economic sovereignty and security in an increasingly digital world. Denmark’s Export and Investment Fund (EIFO) and Novo Holdings stand out as anchor investors, underlining confidence in Europe’s quantum leadership potential.
According to the fund’s leadership, this investment platform is designed not only to provide financial resources but also to accelerate the commercialization and deployment of quantum technologies that can address societal challenges including climate resilience and cybersecurity.
