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Quantonation Ventures has closed €220 million for its second fund dedicated to physics-based technologies, backed by Novo Holdings, ACS SA, and other investors. This fund increases its assets under management to over €311 million, making it the largest dedicated quantum investment firm globally.

The firm plans to invest in startups focusing on quantum computing, error correction technologies, and other physics-based innovations. It has backed 12 companies, including Diraq and Chiral, and aims to support 25 startups with investments ranging from €200k to €20m. The surge in quantum technology investment reflects a growing interest in its potential applications.