Quantonation Ventures announced on February 18, 2026, the closing of its second flagship fund with €220 million—becoming the largest dedicated quantum investment firm globally. The oversubscribed fund will accelerate the transition of quantum and physics-based technologies from research into real-world infrastructure, expanding into areas like advanced materials and next-generation computing. This new fund more than doubles the size of Quantonation’s first, reflecting growing confidence in the industrial potential of these technologies. “Quantum has spent decades being described as five years away,” said Christophe Jurczak, Managing Partner at Quantonation. “That wasn’t a failure of physics, but of ecosystems.” This significant investment signals a shift toward building complete quantum systems and durable value, rather than solely focusing on single breakthroughs.
Quantonation II Closes €220 Million Fund for Deep Physics
The oversubscribed fundraise significantly surpasses the €200 million target, demonstrating increased investor confidence in the burgeoning field of quantum and physics-based technologies. This new capital builds upon the success of Quantonation’s initial €91 million fund, which reportedly performed in the top quartile globally, signaling a shift from purely scientific exploration toward viable industrial applications. Since its launch in 2018, Quantonation has deployed capital across more than 10 countries, focusing on areas including quantum computing, sensing, and advanced materials.
The fund’s strategy acknowledges that progress in these domains isn’t linear, but rather a compounding effect of multiple systems maturing simultaneously. “Physics has been a powerful engine for civilizational progress,” said Partner Will Zeng, emphasizing the long-term potential of these investments. Notably, all major limited partners from the first fund returned for Quantonation II, joined by new investors like the European Investment Fund and Novo Holdings.
From Pioneering Quantum Teams to Industrial-Scale Applications
Having established quantum technologies as a viable asset class with its first fund, Quantonation Ventures is now directing its focus toward scaling and practical application. Quantonation I backed 27 companies globally, including category leaders like PASQAL, Nord Quantique, and Multiverse Computing, successfully transitioning technologies from laboratories into commercial environments.
The expanded fund will allow for larger initial investments and extended support during the crucial scale-up phase, extending beyond quantum computing to encompass advanced materials, sensing, and next-generation computing. “With Quantonation I, our mission was to back the pioneers,” said Partner Olivier Tonneau. “These were the teams turning quantum physics into working machines, and to help the first leaders emerge.” Quantonation II has already deployed capital into 12 companies, anticipating a portfolio of approximately 25.
With Quantonation I, our mission was to back the pioneers. These were the teams turning quantum physics into working machines, and to help the first leaders emerge.
Global Portfolio Expansion: Investments Across Physics-Based Technologies
Quantonation Ventures is actively expanding its investment strategy beyond core quantum computing, demonstrated by the recent closure of its €220 million second fund. The firm, now the largest dedicated quantum investment entity globally, is directing capital towards advanced materials, sensing technologies, and next-generation computing paradigms – a move reflecting a broadening understanding of physics-based innovation. Since its 2018 inception, Quantonation has deployed funds across over 10 countries, building a diverse portfolio that extends beyond pure quantum applications into adjacent deep-physics domains.
This expansion isn’t simply about chasing the latest technological trend; it’s a calculated bet on the industrialization of fundamental scientific principles. Quantonation I, which backed 27 companies including category leaders like PASQAL and Nord Quantique, is now shifting its focus towards utility and scale, aiming to build robust products ready for industrial deployment.
