Generalist · VC Firm

CDP Venture Capital

Italy's sovereign VC arm; backs quantum through its €450M AI Fund and trades capital for an Italian footprint, from Multiverse's Milan subsidiary to Algorithmiq's relocated HQ. Co-led Italy's largest quantum round (€18M, May 2026).

Active Rome, ItalyFounded 2020

Investment thesis

Italy's sovereign VC platform (€4.9B AUM, 15 funds, ~190 professionals, Rome + Milan) backs quantum through its €450M Artificial Intelligence Fund, whose mandate explicitly covers AI, Cybersecurity and Quantum from proof of concept to late stage.

Invests in global quantum champions in exchange for an Italian footprint: Multiverse opened a Milan IP subsidiary, Classiq committed to an Italian entity, Algorithmiq moved its global HQ from Helsinki to Milan.

Co-led Algorithmiq's €18M round (May 2026), Italy's largest-ever VC investment in a quantum startup, alongside United Ventures.

Feeds its own pipeline at the lab stage through the €380M Technology Transfer Fund (Planckian quantum batteries, Rotonium photonic qudits via the Galaxia aerospace hub).

Anti-thesis

The patterns that trigger a fast no with this fund.

  1. No dedicated quantum fund and no published check sizes: quantum competes for capital inside a generalist AI/Cyber/Quantum mandate
  2. Every international deal so far carries an Italy-localization condition (subsidiary, office or HQ); founders unwilling to build an Italian presence are off-thesis
  3. Mostly a follower on quantum rounds to date (Classiq, Multiverse); Algorithmiq is its only quantum co-lead
  4. Public-anchored governance (CDP Equity/Invitalia) means strategic-sovereignty criteria and slower processes than a private fund

Notable quantum portfolio

Full portfolio
Multiverse ComputingClassiq TechnologiesAlgorithmiqPlanckianRotonium

Frequent co-investors