The venture capital company 55 Northbased in Copenhagen, announces the first closing of its inaugural fund, endowed with 300 million euros. For this first step, 134 million euros were raised to institutional investors, including Novo Holdings And Eifo (Export and Investment Fund of Denmark).
Positioned as the largest global fund exclusively devoted to quantum technologies, 55 North adopts an open approach to all stages of development, upstream funding to more advanced towers. Its strategy covers the entire value chain, from enabling technologies to complete solutions, with a focus on three axes: Quantum calculation, quantum sensors and quantum communication.
The management team brings together scientific and financial profiles. The fund is controlled by Dr. Owen Lozman (ex-m ventures), alongside Dr. Helmut Katzgraber (Ex-Amazon, Microsoft) and Dr. Kai Hudek (ex-ionq). Partners also benefit from the support of Vsquared ventures in Europe and Cambium Capital in the United States.
55 North has already made its first investments with participation in 275 million euros from IQM 275 million eurosone of the European leaders in quantum based in Finland, and the co-lead of the A-2 series of 13 million euros in KiutraGerman company specializing in cryogeny.
This launch comes in a context of global acceleration. More than $ 40 billion in public funding are already engaged in the quantum on the scale of the G7, while Denmark had in 2023 a national strategy In this area, entrusting EIFO the mission to contribute to the emergence of a reference fund. For the Danish Minister of Industry, Morten Bødskov, “with this fund, we can invest in the major quantum breakthroughs of tomorrow and accelerate their transfer from laboratories to the company”.
By giving yourself the mission of accelerating the release of quantum innovations from research laboratories to industrial applications, 55 North intends to strengthen Europe’s capacity to position itself as a producer and not a simple buyer of quantum technologies.
