QDNL Participations
Venture capitalAmsterdam · Pre-Seed–Series A · 5 people tracked
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.
Source: firm website, verified Aug 7, 2026.
Team · 5 people
from the firm's website & public directories
What they invest in
from 8 of 12 portfolio companiesDeep Tech ×6Quantum Computing ×6Hardware ×5Semiconductors ×2AI & Machine Learning ×1Biotech ×1Cybersecurity ×1Developer Tools ×1
HQs:Netherlands×2
Investments · 12 tracked
founders shown can be your intro pathMIT and University of Maryland spinout building satellite constellations powered by a novel quantum camera.
Co-investorsHEC Paris Incubator
Co-investors4impact capitalAct Venture CapitalACT Venture CapitalAmadeus Capital SAAngel Physicians FundAnkur Capital+59 more
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
Co-investorsQuantonation
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 CapitalAccelDelft Enterprises B.V.QuantonationSpeedinvest
OrangeQS provides automated testing and characterization equipment and software for quantum chips with several to hundreds of qubits.
Deep TechHardwareQuantum Computing
Co-investorsCottonwood Technology FundEuropean Innovation Council Fund
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)inJoshua Slater(CTO)in
Co-investorsCottonwood Technology Fund
Qblox designs modular control and readout electronics and a software stack for controlling quantum processors, including superconducting, spin, and color-center (NV/trapped-ion) qubit architectures.
Deep TechHardwareQuantum Computing
Co-investorsBootstrap EuropeQuantonation
QphoX develops quantum transduction technology and single-photon interfaces that convert signals between microwave, optical, and telecom frequencies to interconnect and scale quantum computers.
Deep TechHardwareQuantum Computing
Co-investorsQAI VenturesQuantonation
Los Angeles-based startup with an AI-native quantum development platform for fault-tolerant quantum computing.
QuantWare designs and manufactures quantum processors (QPUs) for industrial applications.
Deep TechHardwareQuantum ComputingSemiconductorsNetherlands, NL
Matt Rijlaarsdam(Co-Founder & CEO)
Co-investorsGraduate EntrepreneurIn-Q-TelRotripETF PartnersFORWARD.oneIntel Capital
Swiss startup developing electronics capable of operating at cryogenic temperatures required for quantum computing.
Co-investorsHEC Paris Incubator
Portfolio news
latest coverage across their companies
QuantWare · thequantuminsider.com · Jul 6, 2026
Orange Quantum Systems · thequantuminsider.com · Apr 21, 2026
Modem · thesaasnews.com · Feb 12, 2026
Q*Bird · thequantuminsider.com · Jan 12, 2026
EuQlid · quantumcomputingreport.com · Nov 5, 2025
Frequently asked questions
- How many investments has QDNL Participations made?
- QDNL Participations has 11 tracked investments.
- 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.
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