About This Fund
55 North Fund I is a €300 million venture capital fund exclusively focused on quantum technology, managed by 55 North, a Copenhagen-based firm founded in 2025 by Dr. Owen R. Lozman, Dr. Helmut G. Katzgraber, and Dr. Kai M. Hudek. The fund is positioned as the world's largest dedicated fund for the quantum technology stack, spanning quantum computing, quantum sensing and timing, and quantum communications. The founding team brings a combination of deep scientific credentials — PhDs in physical organic chemistry, physics, and experimental physics engineering — and over 50 combined years of experience in R&D leadership and quantum industry building, creating an unusually technically literate investment partnership at the frontier of a transformative emerging technology.
55 North Fund I targets early-to-growth-stage companies across all layers of the quantum stack: hardware (processors, photonics, trapped ion systems, cryogenic cooling infrastructure), software and algorithms, enabling materials and components, and the broader quantum sensing and communications applications layer. The fund maintains a strong European geographic bias, with approximately 75% of capital targeting European companies and one quarter specifically reserved for Nordic firms — a deliberate contribution to Denmark's National Strategy for Quantum Technology. Novo Holdings, the investment arm of the Novo Nordisk Foundation, acts as cornerstone investor, alongside EIFO (the Danish Export and Investment Fund of Denmark) and other public and private institutional backers.
55 North completed the first close of Fund I at €134 million, against a total target of €300 million, which at full deployment would rank it among the largest dedicated quantum venture funds globally. Early investments demonstrate the fund's commitment to backing technically advanced companies: a co-investment in IQM's €275 million Series B round (quantum computing hardware) and co-leadership of a €13 million Series A-2 round in Kiutra, a developer of advanced cryogenic cooling systems essential for quantum processor operation. The fund's long-term, patient capital approach reflects the multi-year development cycles inherent to the quantum hardware and systems layers.