With a €134 million first close, 55 North launches the largest dedicated quantum technology fund in the world.
55 North
The largest pure-play fund in the world that is solely focused on the quantum technology stack is 55 North, a venture capital fund with its headquarters located in Copenhagen, Denmark. In a major step towards its €300 million goal, venture capital firm 55 North today announced the first closing of its first quantum technology fund at €134 million. The firm, which has its headquarters in Denmark, is now the biggest pure-play quantum venture capital fund in the world and is well-positioned to hasten the transfer of quantum technology from research laboratories to international markets.
The Export and Investment Fund of Denmark (EIFO) and Novo Holdings are the fund’s anchors, with additional assistance from US-based Cambium Capital and European venture capital firm Vsquared Ventures. Denmark’s National Strategy for Quantum Technology, which seeks to build on the country’s rich quantum heritage and create a global innovation powerhouse, is at a turning point with the opening of 55 North.
You can also read NSF Awards $5M Grant to URI Research for Quantum Science
A Strategic Imperative for European Sovereignty
The introduction coincides with the national and international recognition of quantum technology as a strategic priority. Over $40 billion in public investment has been pledged by governments worldwide, demonstrating the importance of quantum leadership for national security, economic sovereignty, and climate resilience. Quantum technologies have been incorporated into the fundamental security and innovation frameworks of the European Union, the United Kingdom, Germany, France, and Denmark.
“Quantum is now a strategic imperative, not a science experiment,” stated Dr. Owen Lozman, 55 North’s managing partner. “Quantum computing is well-positioned to increase these workloads as traditional computing approaches its computational and physical constraints in areas like drug discovery and artificial intelligence. In order to continue producing quantum technologies rather than merely purchasing them, Europe must forward its quantum agenda.
This agenda has received strong support from the Danish government. Danish Minister for Industry, Business, and Financial Affairs Morten Bødskov emphasized how the technology can address significant social issues, including supply chain optimization and cybersecurity. ” In Denmark are honored to continue Niels Bohr’s legacy by launching the largest quantum fund in the world,” he said.
The fund is expected to play a “defining role” in securing Europe’s leading position in an area that will influence future economies, industries, and security frameworks, according to Peder Lundquist, CEO of EIFO.
Investment Strategy and Early Moves
A global group of deep-tech experts, including General Partners Dr. Helmut Katzgraber (previously of Amazon and Microsoft), Dr. Kai Hudek (formerly of IonQ), and Managing Partner Dr. Owen Lozman (formerly of M Ventures), lead 55 North. The three main areas of computing, sensing, and communication will be the focus of the fund’s stage-agnostic investments throughout the whole quantum ecosystem. Its approach, which focuses on enabling technologies, full-stack solutions, and specialized software, strikes a compromise between immediate commercial applications and long-term technological aspirations.
The fund intends to deploy roughly 75% of its resources to European companies, including a quarter exclusively for Nordic firms, despite its global investment strategy.
You can also read Phasecraft Reveal The Mondrian For Logistics And Finance
55 North has already made two big investments to show its dedication and strategic approach:
- It took part in IQM’s €275 million Series B funding, which was a leading European company in quantum computing. As far as European quantum technology companies are concerned, this round is the biggest they have ever raised.
- It co-led a €13 million Series A-2 investment in Kiutra, a German business creating cutting-edge cryogenic cooling systems essential to the functioning of sensors and quantum computers.
- The fund’s premise of promoting full-stack solutions as well as the vital enabling technologies that enable the whole quantum supply chain is best illustrated by these inaugural investments.
Tapping into a Surging Market
The fund’s launch time is very noteworthy. A century of quantum mechanics is being celebrated in 2025, which the UN has declared to be the worldwide year of quantum science and technology. This year is turning out to be crucial for the sector. Quantum investment more than doubled the amount invested in the first quarter of 2025, reaching over €1 billion, even though global tech investments fell by 50%. By 2030, the global quantum market is expected to have grown from $1.45 billion in 2024 to $5.4 billion, indicating a clear transition from long-term research to commercial readiness.
Co-anchor investor Novo Holdings’ managing partner, Søren Møller, highlighted the revolutionary potential of quantum innovation, especially in the biological sciences. It is thrilling to serve as a cornerstone investor in 55 North, which shares our belief that quantum innovation may help solve some of the most pressing issues facing the health of people and the world,” he said. Novo Holdings wants to encourage the creation of solutions that can enhance global health by investing in the most promising businesses.
55 North is well-positioned to take advantage of this market momentum and actively influence the development of the global quantum landscape from its European base, having already secured its first closure and made its maiden investments.
You can also read Long-Range Interactions Excitation In Open Quantum Systems
