Deep Tech · Corporate VC

IN Venture

Sumitomo Corporation's Israeli CVC (Tel Aviv, est. 2019). One quantum bet, Classiq, followed from Series A through the $110M Series C (May 2025), with the parent running live quantum PoCs on the platform.

Active Tel Aviv, IsraelFounded 2019

Investment thesis

Corporate VC of Sumitomo Corporation, established in Tel Aviv in June 2019; the group's fifth CVC worldwide, investing exclusively in early-stage Israeli deep tech (Fund I $100M, 2020; Fund II $150M target, first close $70M, Aug 2022).

Single quantum position, backed with rare persistence: joined Classiq at Series A (Jan 2021, $10.5M), followed at Series B (Feb 2022, $33M) and again at the $110M Series C led by Entrée Capital (May 2025).

Client-investor model proven in production: Sumitomo ran a quantum Monte Carlo project on Classiq's platform with Mizuho-DL Financial Technology, achieving up to 95% circuit compression for credit-risk simulations (Mar 2025).

The strategic offer is the Israel-Japan corridor: portfolio companies get industrial PoCs and distribution through a ~$46B-revenue sogo shosha spanning energy, chemicals, infrastructure and finance.

Anti-thesis

The patterns that trigger a fast no with this fund.

  1. Not a quantum fund: one quantum position out of ~15 portfolio companies, and no new quantum bet since 2021; do not expect a first check unless you fit Sumitomo's industrial verticals
  2. Strategy carries CVC strings: value creation runs through Sumitomo collaborations, so founders wary of corporate alignment, Japanese decision cycles or information rights should weigh the trade
  3. Fund II's $150M was a target with a $70M first close (Aug 2022) and no publicly confirmed final close; dry powder for new positions is not transparent

Notable quantum portfolio

Full portfolio
Classiq Technologies

Frequent co-investors