On October 2, 2025, Copenhagen-headquartered 55 North announced the first close of its €300 million inaugural Fund I at €134 million (DKK 1 billion), positioning it as the world’s largest pure-play quantum technology venture capital fund. The Export and Investment Fund of Denmark (EIFO) and Novo Holdings participated as anchor investors, according to the Novo Holdings announcement.
55 North was co-founded by three general partners and supported by European VC firm Vsquared Ventures and U.S.-based Cambium Capital. The fund invests globally across quantum computing, sensing, and communications at all stages. At the time of launch, 55 North had already completed two investments: participation in IQM’s €275 million Series B and a co-lead in Kiutra’s €13 million Series A-2.
EIFO CEO Peder Lundquist said the fund fulfilled a strategic objective of the Danish government, whose National Strategy for Quantum Technology had mandated EIFO to incubate a world-leading quantum investment fund. Minister Morten Bødskov said Denmark was “proudly carrying on Niels Bohr’s legacy” with the fund’s inauguration.