About This Fund
55 North Fund I is a specialized venture capital vehicle exclusively dedicated to scaling quantum technology companies across the computing, sensing, and communications domains. Based in Copenhagen, the fund is structured to back early‑ to growth‑stage companies spanning hardware, software, enabling technologies, and algorithmic layers of the quantum stack. Anchored by public and private backers including EIFO and Novo Holdings, the fund seeks to bridge the gap between deep research and commercial deployment in quantum.
The inaugural fund has already closed on its first tranche of €134 million, representing a strong signal from cornerstone investors and deep‑tech stakeholders. The target size is €300 million, which would make this among the largest pure‑play quantum funds globally.
In its early deployment, 55 North has participated in IQM’s €275 million Series B and co‑led a €13 million investment in Kiutra, a company developing cryogenic cooling systems essential for high‑performance quantum hardware. These initial investments illustrate the fund’s strategy to back both enabling infrastructure and full‑stack systems.
The fund takes a stage‑agnostic, global mandate, with particular emphasis on anchoring Europe (and especially Nordic companies) in the quantum ecosystem. By combining deep technical insight with long investment horizons, 55 North aims to support the maturation of quantum innovations from lab prototypes to economically viable platforms.