Quantum computing pioneer Chad Rigetti behind the listed quantum computing Rigetti, is joining the €15 million QDNL Participations fund as a Venture Partner. The fund aims to create a startup and venture capital hub around Dutch quantum technology research. Rigetti, founder of Rigetti Computing, will lead new investments, provide guidance to portfolio companies, and support the development of the fund and its strategy. QDNL Participations will invest in early-stage quantum technology startups and help research teams launch startups based on their technology.
Introduction
Quantum computing pioneer Chad Rigetti joins the €15 million QDNL Participations fund as a Venture Partner. We wrote recently about the loss of the company’s founder bearing his name (What happens to Rigetti now that its founder Chad Rigetti has left the Quantum Company with his name).
“Rigetti Computing put quantum computing on the radar for many in both the public and private markets alike,”
Michael Jackson, a member of QDNL Participations’ board and investment committee.
The fund aims to create a startup and venture capital hub around Dutch quantum technology research. Rigetti, founder of NASDAQ-traded Rigetti Computing, will lead new investments, support portfolio companies, and foster international connections. QDNL Participations, backed by Quantum Delta NL, will invest in early-stage quantum technology startups and help research teams launch startups based on their technology.
QDNL Participations Fund: Supporting Early-Stage Quantum Technology Startups
Launched by Quantum Delta NL in March 2023, QDNL Participations will invest in early-stage quantum technology startups, typically leading the round with investments of up to €1.5 million. The fund aims to help research teams launch startups based on their technology and provide financial support for researchers to prepare their work for commercialization.
In addition to investments, the fund will offer €50,000 to teams developing promising quantum technologies before being incorporated as a startup. This funding, supplied via a SAFE note agreement, will later convert into an equity investment when the startup is ready to move forward as a business.
Quantum Delta NL: Nurturing the Dutch Quantum Computing Industry
Quantum Delta NL is a foundation to nurture and develop the Dutch quantum computing industry. By backing QDNL Participations, the foundation aims to bridge the gap between the grant-giving phase of research and the ‘patient capital’ phase of venture investment.
QDNL Participations provides impactful business and commercial support to transform potentially great technical ideas into investable companies. The fund aims to help brilliant technical minds organize leading talent to bring their ideas into the world for the benefit of humanity.
Rigetti’s Impact on Quantum Computing
Rigetti Computing, founded by Chad Rigetti in 2013, has played a significant role in putting quantum computing on the radar for both public and private markets. The company, backed by Y Combinator and Andreessen Horowitz, is now a publicly-traded leader in the quantum computing sector.
Rigetti’s addition to the QDNL Participations team is seen as a big win, showcasing Europe’s potential, particularly the Netherlands, to build leading quantum companies that can generate outstanding returns for investors.
Excitement Surrounding Rigetti’s New Role
Chad Rigetti expressed his enthusiasm for supporting founders and companies striving to build long-term, category-defining companies in the quantum sector. Ton van ‘t Noordende, Managing Director of QDNL Participations, also shared his excitement about working with Rigetti in this new capacity, praising him as an incredible scientist and a wonderful person.
“Adding Chad to the QDNL Participations team is a big win. It shows that Europe, and particularly the Netherlands, has a world class quantum ecosystem, with the potential to build leading quantum companies that can generate outstanding returns for investors.”
“There’s been tremendous progress in the development of quantum technologies over the past decade, but the quantum sector as a whole is still just getting going. I’m excited to help support brilliant founders and companies who are striving to build long-term category defining companies,” Rigetti said.
“Chad is one of the most capable founders I have met. He’s also an incredible scientist and a wonderful person. I’m thrilled to work together with him in this new capacity,” said Ton van ‘t Noordende, Managing Director of QDNL Participations.
Exectuive Summary
Quantum computing pioneer Chad Rigetti has joined the €15 million QDNL Participations fund as a Venture Partner to support Dutch quantum technology research and startups. The fund aims to bridge the gap between research grants and venture investment, providing financial support and commercial guidance to help transform innovative ideas into investable companies.
- Quantum computing pioneer Chad Rigetti joins QDNL Participations as a Venture Partner.
- QDNL Participations is a €15 million fund supporting Dutch quantum technology research and startups.
- Rigetti founded Rigetti Computing, a NASDAQ-traded quantum computing leader backed by Y Combinator and Andreessen Horowitz.
- In his new role, Rigetti will lead investments, support portfolio companies, and contribute to the Quantum Delta NL ecosystem’s vision and strategy.
- QDNL Participations, launched by Quantum Delta NL in March 2023, invests in early-stage quantum technology startups and helps research teams launch startups based on their technology.
- The fund offers €50,000 to teams developing promising quantum technologies before they incorporate as a startup, with funding later converting into an equity investment.
- QDNL Participations aims to bridge the gap between research grants and venture investment, providing financial support for researchers to commercialize their work.
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