55 North Launches €300M Quantum Technology Fund With €134M First Close

Positioned as the world’s largest fund dedicated to quantum technologies, it will invest across quantum computing, sensing, and communications.

Founded in 2025, 55 North takes a stage-agnostic approach, supporting both enabling technologies and full-stack solutions. The firm has already completed two deals: participating in European quantum leader IQM’s €275M Series B and co-leading Kiutra’s €13M Series A-2.

“Quantum is no longer a science experiment, it’s a strategic imperative,” said Dr. Owen Lozman, Managing Partner of 55 North. “As classical computing nears its physical and computational limits in applications like drug discovery and AI, quantum is well positioned to accelerate these workloads. Europe must push its quantum agenda to remain a producer, not just a buyer of quantum technologies. With our first close and early investments, we’re laying the foundation for the world’s quantum future.”

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The launch comes at a time when quantum technology is attracting massive global investment. Governments across Europe and the G7 have made it a top priority, committing more than $40 billion in public funding. In Denmark, the 2023 National Strategy for Quantum Technology tasked EIFO with helping build a leading quantum fund.

55 North is led by Managing Partner Dr. Owen Lozman (ex M Ventures), with General Partners Dr. Helmut Katzgraber (ex Amazon, ex Microsoft) and Dr. Kai Hudek (ex IonQ). The team blends deep scientific expertise with venture capital experience, supported by European VC Vsquared Ventures and US-based Cambium Capital.

With Denmark as its base, 55 North plans to invest globally, aiming to accelerate the shift of quantum innovation from labs into commercial applications.

Peder Lundquist, CEO of EIFO, commented: “We are thrilled to see 55 North launch. Quantum will shape industries, economies, and security frameworks worldwide. That is why Europe must act decisively to secure a leading position. With an outstanding team and solid backing from us, Novo Holdings, and further investors to come, 55 North is set to play a defining role.”