Paris-based Quantonation Ventures, the venture firm for quantum and physics-based technologies, has closed its second flagship fund above target at €220 million.

With this close, Quantonation said it becomes “the largest dedicated quantum investment firm globally by assets under management.”

The firm said: “This second fund is more than twice the size of Quantonation’s first €91 million vintage, which has performed in the top quartile globally, reflecting growing conviction that quantum and deep-physics technologies are moving beyond scientific promise toward industrial systems, enterprise deployment, and real supply chains.

“Since launching in 2018, Quantonation has invested globally across more than 10 countries, backing companies in quantum computing, networking, sensing, materials, adjacent supply chain, and broader deep-physics domains. The fund was oversubscribed, surpassing its €200 million target.

“All major investors from Quantonation I have returned for the second fund. Returning limited partners include Singapore’s Vertex Holdings; Fonds National d’Amorçage 2, managed by Bpifrance on behalf of the French State; and Bradley M. Bloom, co-founder and former Managing Director of Berkshire Partners. New limited partners include the European Investment Fund, Grupo ACS, Novo Holdings, Planet First Partners, and Toshiba.”

Christophe Jurczak, Managing Partner at Quantonation, said: “Quantum has spent decades being described as five years away.

“That wasn’t a failure of physics, but of ecosystems. What’s changed is alignment: hardware, software, supply chains, and industrial demand. Quantum is no longer a race to build one machine. It’s an interlocking stack, and that’s where durable value now sits.”