- QDNL’s €15 million Participation Fund helps researchers turn their technology into startups that VCs can invest in
- Chad Rigetti built the NASDAQ-traded quantum computing company, Rigetti Computing
- At QDNL Participation, Rigetti will invest, support portfolio companies, and cultivate international connections
PRESS RELEASE — Quantum computing pioneer Chad Rigetti joins QDNL Participation as Venture Partner. A €15 million fund was recently launched to help create a nest of seed and venture capital around the fast-growing Dutch quantum technology research ecosystem.
As a founder, executive and scientist, Rigetti knows how to develop quantum information technology and bring it from the lab to market. His Silicon Valley startup, Rigetti Computing, was founded in 2013 to apply quantum computing to solve the world’s biggest challenges. Backed by Y Combinator and Andreessen Horowitz, the company is now the world’s publicly traded leader in the sector.
In QDNL Participation, Rigetti will play the role of Venture Partner. He will lead new investments, provide guidance to portfolio companies, and support the development of the fund and its strategy. He will also contribute to the vision and strategy of the Quantum Delta NL ecosystem at large.
“Rigetti computing is putting quantum computing on the radar for many people in both public and private markets,” said Michael Jackson, member of the board of QDNL’s Participation and investment committee. “Adding Chad to the QDNL Participation team is a huge win. This shows that Europe, and in particular the Netherlands, has a world-class quantum ecosystem, with the potential to build a leading quantum company that can generate extraordinary returns for investors.”
“There has been tremendous progress in the development of quantum technology over the last decade, but the quantum sector as a whole is still in its infancy. I love helping support brilliant founders and companies seeking to build long-term category defining companies,” said Rigetti.
“Chad is one of the most capable founders I’ve ever met. He was also an outstanding scientist and an extraordinary person. I am delighted to work with him in this new capacity,” said Ton van ‘t Noordende, Managing Director of QDNL Participations.
Launched by Quantum Delta NL in March 2023, QDNL Participation will invest in early-stage quantum technology startups, usually leading rounds with investments of up to €1.5 million. It will also help research teams launch startups based on their technology.
In addition, the fund will offer €50,000 to teams developing promising quantum technologies even before they are incorporated as startups. Provided through a SAFE record agreement, this funding will later be converted into an equity investment when the startup is ready to move forward as a business.
Supported by Quantum Delta NL, a foundation that exists to nurture and develop the Dutch quantum computing industry, the fund is designed to provide researchers with the financial support they need to prepare their research for commercialization.