Firgun Ventures, a new quantum-first venture capital firm based in London, has launched with a first close of £53.4 million. The firm is focused on early growth-stage investments in quantum technology.
The fund is aiming for a final size of £190.7 million and will concentrate on Series A and B start-ups that are developing quantum computing, sensing, communications, and cryptography solutions. Firgun’s strategy is to support companies that have moved beyond the research phase and are seeking to expand their solutions for commercial uses. The firm will assess opportunities across various sectors, including healthcare, climate science, finance, and cybersecurity.
Co-founders, Dr Kris Naudts and Zeynep Koruturk, both have prior experience as angel investors in the quantum technology sector, since they first backed Cambridge Quantum Computing, now known as Quantinuum, back in 2016.
The fund’s core strategy is to invest in quantum start-ups at a point where foundational science needs to be connected with commercial execution. Firgun plans to offer both capital and guidance specific to the sector. The co-founders highlight an approach that merges scientific knowledge with practical experience in building companies and managing investments.
An advisory group supports the venture, featuring members from academic institutions such as Cambridge, Oxford, and MIT, as well as from industry bodies including Google, the European Investment Bank, and the Wellcome Trust. Mete Atature, Professor of Physics at Cambridge University’s Cavendish Lab, is set to provide technical due diligence for prospective investments.
This backing is intended to boost investor confidence and ensure rigorous selection criteria for its portfolio companies, as Dr Naudts explains: “Quantum isn’t a buzzword. It’s an industrial revolution. It will reshape how we compute, communicate, and diagnose or cure disease. We’re here to fund its future leading companies. Our investor ethos begins with ‘First, do no harm,’ borrowed from the medical world, but used here to mean that we are focused on helping founders and management teams maintain innovation and drive sustainable and organised growth. Quantum technology is here to change the world, and we strongly believe in its ability to do so for the better.”
Co-founder Zeynep Koruturk concluded: “We back quantum founders who have already crossed from lab to market, and they need investors who understand both worlds in order to successfully scale. After more than a decade working with technology entrepreneurs at Goldman Sachs, I’ve seen how transformative innovation takes hold when it’s backed by the right kind of capital. Quantum is no different – it needs investors who combine conviction with values. That’s exactly what Firgun was built to deliver.”
Firgun’s structure is designed to offer quantum-specific due diligence and support to entrepreneurs preparing to transition from research to market influence. The firm benefits from an advisory board with knowledge spanning science, technology, and finance, which it states will help maintain strict technical standards during the investment process.
Image source: Firgun Ventures
