How many investments has QDNL Participations made?

QDNL Participations has 13 tracked investments, including 2 dated in the last 24 months.

What stage does QDNL Participations invest at?

QDNL Participations invests at the Pre-Seed, Seed, Series A stages.

What is QDNL Participations's typical check size?

QDNL Participations typically writes checks of $324K – $756K.

What sectors does QDNL Participations focus on?

QDNL Participations focuses on Data & Infrastructure, Deep Tech, Hardware, Quantum Computing, Semiconductors.

Where is QDNL Participations located?

QDNL Participations is headquartered in Amsterdam, NL.

Does QDNL Participations lead rounds?

Yes, QDNL Participations leads investment rounds.

Who does QDNL Participations co-invest with?

QDNL Participations most often shares deals with Quantonation, Cottonwood Technology Fund, HEC Paris Incubator, among 8 tracked co-investors.

QDNL Participations

Venture capital

Amsterdam · Pre-Seed–Series A · 6 people tracked

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Find your way into QDNL Participations

3,134 people in our graph share verified history with the QDNL Participations team — schools, employers, funds. One of them is your warm intro.

Alain le Louxunlockedknows Ton van 't Noordende · together at Orange Quantum Systems (overlapped)

knows the team · via General Intuition

×7knows the team · via Stanford University

knows the team · via Université de Genève

knows the team · via UC Berkeley

knows the team · via Peak

✨ Fox Verdict

Investment thesis

QDNL Participations invests in early-stage quantum technology startups, aiming to become the definitive global investor in quantum. The firm sees the current period as an optimal window for early-stage quantum investment as technologies and markets mature and non-dilutive capital becomes available. It bridges the gap between the grant-giving research phase and the patient-capital venture phase, providing hands-on business and commercial support to help technical founders build category-defining quantum companies across Europe and the US. The firm rejects a generalist or hands-off model, arguing the quantum space is too specialized and requires deep, active, quantum-specific expertise.

Invests inData & Infrastructure Deep Tech Hardware Quantum Computing Semiconductors Amsterdam Europe Global Netherlands North America United Kingdom United States

Source: firm website, verified Aug 7, 2026.

Stage

Pre-Seed–Series A

Check

$324K – $756K

Amsterdam, NL

Leads rounds

Leads

Instruments

Equity

Founded

2023

AUM

$16.2M

Tracked investments

Team · 6 people

from the firm's website & curated & public directories

Ton van 't Noordende· General Partner· Amsterdam, North Holland, Netherlandsin

General Partner at QDNL Participations focused on investing in and shaping category-defining quantum technology companies.

t•••@qdnlparticipations.nlreveal

Kris Kaczmarek· Investment Director· London, UKin

Investment Director who previously led quantum investment activities at London-based venture fund 2xN, backing startups including Sparrow Quantum and QSimulate and serving on the board of Kvantify. He was formerly Head of Product at ORCA Computing, the photonic quantum computing company spun out of his PhD research.

k•••@qdnlparticipations.nlreveal

Chad Rigetti· Venture Partner· Silicon Valleyin

Quantum computing pioneer and founder of Rigetti Computing who joined QDNL Participations as a Venture Partner in summer 2023, providing the firm with a foothold in Silicon Valley.

c•••@qdnlparticipations.nlreveal

Charles Marcus· Special Advisor· Seattle, Washington, United Statesin

Special advisor with a distinguished academic background in quantum technologies at Stanford, Harvard and the Niels Bohr Institute. He was Scientific Director of Microsoft Quantum Lab-Copenhagen and later joined the University of Washington faculty as the Boeing Johnson Endowed Chair.

Nadia Carlsten· Special Advisor· Washington DC-Baltimore Areain

Special advisor working across quantum tech and AI. She is CEO of the Danish Centre for AI Innovation, which runs Denmark's first AI supercomputer built with NVIDIA, and was previously VP of Product at SandboxAQ.

Heleen Dura – van Oord· Board Member Investment Committee· Netherlandsin 𝕏

Heleen Dura van Oord is a Dutch entrepreneur and investor who founded DQ&A Media Group in 2001. She is co-founder and partner at investment firms Peak Capital and Future Food Fund. She helped launch the Leading Online Entrepreneur of the Year Awards (LOEY) and Online Tuesday, an event for the online industry in the Netherlands, and was named businesswoman of the year in 2013. She holds several board and supervisory roles, including supervisory board seats at Het Financieele Dagblad and the Efteling, and board positions with Jong Ondernemen, African Parks Foundation Netherlands, and the Rijksmuseum Fonds.

h•••@peak.capitalreveal

What they invest in

from 8 of 13 portfolio companies

Deep Tech ×6Quantum Computing ×6Hardware ×5AI & Machine Learning ×2Enterprise Software ×2Semiconductors ×2Biotech ×1Cybersecurity ×1

HQs:Netherlands×3United States×1

Investments · 13 tracked

founders shown can be your intro path

By year:2025 · 2 2024 · 24 dated

EuQlideuqlid.io

EuQlid builds magnetic imaging technology that uses quantum defects in diamond to non-invasively map buried electrical currents and identify connectivity defects in materials and devices.

Deep TechQuantum ComputingSemiconductors

Sanjive Agarwala(CEO and Co-Founder)in David Glenn(CTO and Co-Founder)inRonald Walsworth(Co-Founder)

Co-investorsQuantonation

Modemmodem.dev in 𝕏Jan 2024

Modem is an AI teammate for product and engineering teams that clusters and prioritizes customer feedback, bug reports, and feature requests from support and chat tools, then creates tickets, delegates tasks to coding agents, and generates user-tailored release notes.

AI & Machine LearningDeveloper ToolsSaaS

Ben Vinegar(Founder)in

Co-investorsInovia Capital Accel Delft Enterprises B.V.Quantonation Speedinvest

Orange Quantum Systemsorangeqs.com in 𝕏

OrangeQS provides automated testing and characterization equipment and software for quantum chips with several to hundreds of qubits.

Deep TechHardwareQuantum Computing

Co-investorsCottonwood Technology Fund European Innovation Council Fund

Q*Birdq-bird.com inMay 2024

Q*Bird develops quantum key distribution (QKD) devices and networks for secure data communication using quantum technology, serving commercial and industrial clients including financial institutions, telecommunications companies, and data centers.

CybersecurityEnterprise SoftwareHardwareQuantum ComputingDelft, NL

Ingrid Romijn(CEO)inRemon Berrevoets(CTIO)in Joshua Slater(CTO)in

Co-investorsCottonwood Technology Fund

Qbloxqblox.com in

Qblox develops industrial-grade control electronics for quantum computing systems, enabling error correction and scalable deployment in production environments.

Deep TechEnterprise SoftwareHardwareQuantum Computing

Co-investorsBootstrap Europe Quantonation

QphoXqphox.eu in

QphoX develops optical control systems and cryogenic switch controllers for quantum computing and research, enabling RF signal delivery to extreme cryogenic environments while minimizing thermal loss.

Deep TechHardwareQuantum Computing

Co-investorsQAI Ventures Quantonation

QT Senseqtsense.com inFeb 2025

QTSense develops quantum sensors operating at the nanoscale to detect subtle biological signals for research and diagnostic applications.

AI & Machine LearningBiotechDeep TechMedical Devices

Deepak Veeregowda(CEO)inSeyyed Taheri(CTO)Romana Schirhagl(CSO)inHoang Nguyen(COO)in

Co-investorsCottonwood Technology Fund

Quantwarequantware.com inMar 2025

QuantWare designs and manufactures quantum processors (QPUs) for industrial applications.

Deep TechHardwareQuantum ComputingSemiconductorsNetherlands, NL

Matt Rijlaarsdam(Co-Founder & CEO)in

Co-investorsFORWARD.one Graduate Entrepreneur In-Q-Tel Rotrip ETF Partners Intel Capital

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

DiffraqtionESGQuantum ElementsRhonexumSiC Systems

Portfolio news

latest coverage across their companies

MagiQware Raises €575K Pre-Seed Round to Advance AI Software For Quantum Computing

Quantware · thequantuminsider.com · Jul 6, 2026

OrangeQS Extends Seed Round to €15 Million And Partners With Rigetti, QuantWare and Peak Quantum

Orange Quantum Systems · thequantuminsider.com · Apr 21, 2026

Modem Raises $4.4 Million in Funding | The SaaS News

Modem · thesaasnews.com · Feb 12, 2026

QT Sense raises €4M to advance a quantum sensing platform

QT Sense · thenextweb.com · Feb 5, 2026

Q*Bird Receives EIC Accelerator Funding for Quantum Secure Communications

Q*Bird · thequantuminsider.com · Jan 12, 2026

SiC Systems Secures Major Funding to Drive Innovation in Silicon Carbide Power Semiconductors - VC Tavern

SiC Systems · vctavern.com · Jan 8, 2026

EuQlid Launches Qu-MRI Quantum Sensing Platform for 3D Semiconductor and Battery Defect Detection - Quantum Computing Report

EuQlid · quantumcomputingreport.com · Nov 5, 2025

Frequently asked questions

How many investments has QDNL Participations made?: QDNL Participations has 13 tracked investments, including 2 dated in the last 24 months.
What stage does QDNL Participations invest at?: QDNL Participations invests at the Pre-Seed, Seed, Series A stages.
What is QDNL Participations's typical check size?: QDNL Participations typically writes checks of $324K – $756K.
What sectors does QDNL Participations focus on?: QDNL Participations focuses on Data & Infrastructure, Deep Tech, Hardware, Quantum Computing, Semiconductors.
Where is QDNL Participations located?: QDNL Participations is headquartered in Amsterdam, NL.
Does QDNL Participations lead rounds?: Yes, QDNL Participations leads investment rounds.
Who does QDNL Participations co-invest with?: QDNL Participations most often shares deals with Quantonation, Cottonwood Technology Fund, HEC Paris Incubator, among 8 tracked co-investors.

Images

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