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Amadeus Capital Partners
Amadeus Capital Partners is a London/Cambridge-based deep-tech VC founded 1997 by Anne Glover and Hermann Hauser (Acorn/ARM co-founder, PhD Cambridge physics).
Investment thesis
Amadeus Capital Partners is a London/Cambridge-based deep-tech VC founded 1997 by Anne Glover and Hermann Hauser (Acorn/ARM co-founder, PhD Cambridge physics). Amadeus V Technology Fund ~$153M plus earlier vintages, plus sector-specific funds (Early Stage, Growth). Invests pre-seed to growth in AI, cybersecurity, fintech, consumer internet, communications and deep tech. Cheques £50k-£20M.
Quantum portfolio includes Riverlane (quantum error correction software — arguably the most critical infrastructure bet in quantum; backed Series A and $75M Series C 2024) and Nu Quantum (co-led seed, followed on in $60M Series A Dec 2025 for quantum networking). Exposure is systems-software plus networking — complementary layers rather than HW competition.
Value-add: Hermann Hauser's Cambridge physics network is structurally unique — ARM, Acorn, Plastic Logic, Cambridge Enterprise heritage gives portfolio founders a direct line to UK deep-tech operators, government labs (NPL, NQCC) and technology-transfer offices.
Differentiated as the UK VC with the deepest structural integration into Cambridge physics and the error-correction/networking layer of the quantum stack.
Anti-thesis
The patterns that trigger a fast no with this fund.
- Amadeus is a UK/European sovereignty fund rooted in Cambridge: a US-only cap table or HQ with no European footprint blunts the thesis Hermann Hauser publicly champions
- They already have early IonQ exposure and other deep-tech bets: another trapped-ion or generalist gate-model story without clear differentiation invites portfolio cannibalization concerns
- Hauser and Glover prioritize European technological autonomy and supply-chain independence: reliance on US fabs, US export-controlled IP, or non-EU talent gravity is a structural weakness
- Amadeus underwrites long-cycle deep tech but expects credible commercial anchors (corporates, sovereign customers, EuroHPC, DARPA-equivalents): pure research-grant revenue is not enough
- They are price-disciplined relative to US megafunds: inflated US-style valuations without matching milestones will fail their European deep-tech benchmarks
Notable quantum portfolio
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