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Morpheus Ventures

Morpheus Ventures is a Los Angeles-based deep-tech VC founded 2015, with Fund II ($200M closed Feb 2022). Invests early-stage (Seed to Series B) in AI, space, quantum, cybersecurity, consumer fintech.

Stage Seed → Series B
Ticket $100k - $5.0M
Quantum focus Quantum Computing · Hardware, Quantum Computing · Software
Geography United States

Investment thesis

Morpheus Ventures is a Los Angeles-based deep-tech VC founded 2015, with Fund II ($200M closed Feb 2022). Invests early-stage (Seed to Series B) in AI, space, quantum, cybersecurity, consumer fintech. Cheques $100k-$5M initial, larger follow-ons. Partner-driven with operating advisors from aerospace, defense and semiconductors.

Quantum bets are modality-diverse: co-investor in Q-CTRL's Series A+B rounds (Sydney-based quantum control firmware; total $113M Series B including DCVC and Square Peg) and Rigetti Computing (superconducting). Recently participated in Nu Quantum's $60M Series A Dec 2025 alongside IQ Capital, Amadeus, National Grid Partners — UK distributed quantum networking. Expanding into the European quantum networking thesis.

Value-add: LA aerospace/defense operator network (JPL, SpaceX, Aerospace Corp alumni); co-investment relationships with specialist quantum funds; helpful for dual-use government contracting (SBIR, DIU).

Differentiated as a US mid-market VC pursuing a cross-continental quantum networking thesis while maintaining classic superconducting + control exposure.

Anti-thesis

The patterns that trigger a fast no with this fund.

  1. LA-based generalist with stated focus on AI, healthcare, frontier tech, quantum appears as buzzword adjacency rather than core competency
  2. Portfolio (Whisper Aero, Cuentas, etc.) reveals consumer and applications bias, no evidence of fab, cryo, or photonics diligence experience
  3. Frontier tech framing on the site is broad enough to include space, robotics, AI, and quantum, which dilutes capacity to develop genuine quantum expertise
  4. LA quantum ecosystem is shallow (Caltech / JPL aside) compared to Boston, Bay Area, Maryland, geographic disadvantage for sourcing and supporting founders
  5. No publicly disclosed quantum investments or partner with quantum credentials, thesis appears reactive rather than proactive

Notable quantum portfolio

Full portfolio →
Q-CTRLRigetti ComputingQC Ware

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