Generalist · VC Firm

Octopus Ventures

European generalist whose Deep Tech pod holds two UK quantum hardware bets: Quantum Motion (silicon qubits, backed at Series A 2020, now the UK's best-funded quantum company after its $160M Series C) and ORCA Computing (led its $15M Series A 2022; ORCA sold the UK MoD its first quantum computer). Patient VCT capital, but no new quantum deal since 2022.

Active London, United KingdomFounded 2008

Investment thesis

One of Europe's largest and most active VCs (~GBP 1.8B AUM, 7 sector pods, ~GBP 200M deployed per year per firm materials), backing founders since 2008 from pre-seed to Series A sweet spot.

Quantum sits inside the Deep Tech pod as one theme among several (robotics, sensory augmentation, 3D printing): two positions, Quantum Motion (silicon spin qubits, first quantum deal, Series A 2020 led by INKEF) and ORCA Computing (photonics, $15M Series A 2022 led by Octopus).

Patient evergreen VCT capital is the structural edge: the firm explicitly backed Quantum Motion knowing returns may sit beyond the typical 3-7 year VC cycle.

In-house People + Talent team plus a 180+ founder network; strong UK university spin-out access (UCL, Oxford, Imperial).

Anti-thesis

The patterns that trigger a fast no with this fund.

  1. No new quantum investment since ORCA's 2022 Series A; last follow-on was Quantum Motion's Feb 2023 round, and Octopus is not listed among returning backers of QM's $160M Series C (May 2026): quantum exposure looks legacy, not active
  2. Deep tech bench has turned over: Simon King, the partner behind both quantum deals, left in 2024 for Lakestar; the pod is now Owen Metters and Mat Munro, with early-stage deep tech under Zoe Reich's separate GBP 40M Pre-Seed Deep Tech Fund
  3. Multi-pod generalist: quantum competes with B2B software, health, fintech and climate for the ~GBP 200M deployed each year; conviction is opportunistic, not thematic
  4. UK-first in practice despite the pan-European mandate; both quantum positions are London companies
  5. VCT structure rewards DPI discipline and retail-friendly pacing; deep tech timelines sit uneasily with annual fundraising optics

Notable quantum portfolio

Full portfolio
Quantum MotionORCA Computing

Frequent co-investors