Novo Holdings backs 55 North's 300 mln euro quantum fund
02/10/2025 08:30
STOCKHOLM, Oct 2 (Reuters) - Danish venture capital firm 55 North on Thursday said it has launched its first 300 million euros ($352.05 million) fund to invest in quantum technologies across computing, sensing and communications. About 134 million euro investment came from Novo Holdings, the controlling shareholder of obesity drugmaker Novo Nordisk NOVOb.CO, and Denmark's state-owned credit fund EIFO. "Quantum is no longer a science experiment, it's a strategic imperative," said Owen Lozman, managing partner of 55 North. "Europe must push its quantum agenda to remain a producer, not just a buyer of quantum technologies." In July, EIFO and Novo Nordisk Foundation said they will invest 80 million euros to build what they say will be the world's most powerful quantum computer. ($1 = 0.8522 euros) (Reporting by Supantha Mukherjee in Stockholm, editing by Terje Solsvik) ((supantha.mukherjee@thomsonreuters.com; +46 70 721 1004; Reuters Messaging: supantha.mukherjee.thomsonreuters.com@reuters.net))