Pure-play Quantum · VC Firm · Active

Quantonation

Quantonation is the world's largest dedicated quantum investment firm by AUM, operating from Paris and Boston. Fund II closed oversubscribed at €220M on Feb 23, 2026 (above €200M target), more than…

Stage Pre-Seed → selective Series B
Ticket $500k - $2.5M
Quantum focus Quantum Computing HW, Quantum Computing SW
Geography Global

Investment thesis

Quantonation is the world's largest dedicated quantum investment firm by AUM, operating from Paris and Boston. Fund II closed oversubscribed at €220M on Feb 23, 2026 (above €200M target), more than double Fund I (€91M, 2018 vintage — top-quartile with 27 companies and 2 exits). Institutional LPs: Bpifrance FNA 2, EIF, Vertex Holdings (Temasek), Novo Holdings, Toshiba, Grupo ACS, Planet First Partners.

Portfolio spans the full quantum stack: HW (Pasqal neutral atoms, Diraq silicon spin, Nord Quantique bosonic qubits), SW (Multiverse Computing), sensing (Qnami NV-centers), communication (WeLinQ, QphoX), post-quantum security (CryptoNext, Project11), quantum chemistry (Qubit Pharmaceuticals), supply chain (Qblox modular systems, Pioniq quantum materials). Active across 10+ countries, ~25-company target per fund.

Science-driven diligence. Managing Partner Christophe Jurczak (PhD physics, CEA-Leti alum) co-founded Pasqal alongside Nobel laureate Alain Aspect — structural integration with top-tier quantum science. Partner Will Zeng (PhD, Rigetti alum) anchors the Boston office. Also backs quantum venture studios (QV Studio Canada, Quantum Italia) to accelerate spin-out formation.

Fund II thesis extends beyond quantum computing to broader "physics-based technologies" — advanced materials, nanomaterials, physics-based sensing, LiDAR. Differentiated as the only quantum VC with genuine multi-architecture conviction, global reach across 10+ countries, and the deepest scientific bench in the specialist category.

Anti-thesis

The patterns that trigger a fast no with this fund.

  1. Pre-revenue consumer hardware sans TRL >= 4
  2. Quantum-adjacent qui n'utilise pas vraiment de qubits
  3. Equipe sans physicien quantique titulaire d'un PhD
  4. Roadmap qui depend du foundry CMOS 7nm sans plan B

Notable quantum portfolio

Full portfolio →
Qubit PharmaceuticalsPasqalMultiverse Computing

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