Paris-based, quantum technologies-focused venture capital firm Quantonation Ventures has hit a €70 million ($75.3 million) first close for its €200 million ($215 million) Fund II, it announced on Wednesday.
It is one of the earliest known venture capital funds dedicated to quantum technology and deep physics and remains one of very few dedicated investors in the world investing in this rapidly emerging space.
The VC has raised from a range of limited partners (LPs) across sovereign wealth funds, fund-of-funds, corporates and high-networth individuals globally.
Roughly all of its LPs from its €91 million ($98 million) Fund I (2021 vintage) re-upped, with several others raising their commitments for the second fund, shared Quantonation Ventures’s partner, Olivier Tonneau in an interview with DealStreetAsia.
