Generalist · Corporate VC · Active
EQT Ventures
EQT Ventures is the Stockholm-based early-growth VC of EQT Group (~€250B+ AUM global PE platform), founded 2016. Fund III €1.1B (2022 vintage).
Investment thesis
EQT Ventures is the Stockholm-based early-growth VC of EQT Group (~€250B+ AUM global PE platform), founded 2016. Fund III €1.1B (2022 vintage). Invests Series A through growth across European deep tech, enterprise SaaS, consumer, fintech and climate. Cheques €5-50M, lead or co-lead.
Quantum bet is singular: SEEQC (New York, digital-superconducting qubit startup, spin-out of HYPRES; backed Series A 2021 with Merck KGaA's M Ventures and LG Technology Ventures). SEEQC focuses on hybrid classical-quantum chip architecture, a distinct approach from pure-quantum competitors.
Value-add: European growth scaling, strong Nordic and DACH corporate networks via the EQT platform; LP of LP access through EQT Group's institutional investor base.
Not a quantum specialist — single opportunistic bet. EQT's broader thesis leans toward software and climate, not quantum hardware.
Anti-thesis
The patterns that trigger a fast no with this fund.
- Generalist Nordic / European tech fund: deep tech only when commercial inflection is visible, not a pure science-risk investor
- Founder-led, software-economics bias: capital-intensive fab / hardware-only quantum plays without platform layer are a stretch
- Limited public quantum track record beyond IQM-style European champions: will not be a repeat hardware buyer at every round
- Prefers companies with clear European scale-up narrative and ability to attract growth-stage syndicates: lab-stage targets are off-thesis
- Hjalmar Winbladh departed in 2020, current team leans more SaaS / AI, so quantum must clear a higher 'why now / why us' bar
Notable quantum portfolio
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