QDNL Participations
Venture capitalAmsterdam · Pre-Seed–Series A · 6 people tracked
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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 · 6 people
from the firm's website & curated & public directoriesWhat they invest in
from 12 of 15 portfolio companiesDeep Tech ×8Quantum Computing ×8Hardware ×7AI & Machine Learning ×5Enterprise Software ×2SaaS ×2Semiconductors ×2AdTech ×1
HQs:Netherlands×3United States×3United Kingdom×1
Investments · 15 tracked
founders shown can be your intro pathBy year:2026 · 32025 · 22024 · 27 dated
Diffraqtion develops a "Quantum Camera" using passive optics that encode the physical structure of light, paired with AI that decodes the output to perform perception tasks beyond conventional sensor limits.
AI & Machine LearningDeep TechSpace TechSomerville, US
Saikat Guha(Co-founder)
Co-investorsCollaborative FundHEC Paris IncubatorMilemark Capital Partners
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)inDavid Glenn(CTO and Co-Founder)inRonald Walsworth(Co-Founder)
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 FundQbeat VenturesEuropean 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-investorsBorski FundCottonwood Technology Fund
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 EuropeQuantonation
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 VenturesQuantonation
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
QuantWare designs and manufactures quantum processors (QPUs) for industrial applications.
Deep TechHardwareQuantum ComputingSemiconductorsNetherlands, NL
Matt Rijlaarsdam(Co-Founder & CEO)inAlessandro Bruno(Founder)Matthijs Rijlaarsdam(Founder)
Co-investorsFORWARD.oneGraduate EntrepreneurIn-Q-TelRotripETF PartnersIntel Capital+1 more
Rhonexum works on quantum computing technology, focusing on the technical challenges of controlling qubits that must be kept in cryogenic refrigerators far colder than room temperature.
Deep TechHardwareQuantum Computing
Co-investorsHEC Paris IncubatorKickfundVenture Kick
Sygaldry develops quantum-accelerated AI servers that combine multiple qubit modalities to speed up training and inference for AI models.
Advanced ManufacturingAI & Machine LearningHardwareQuantum ComputingAnn Arbor, US
Chad Rigetti(CEO)inIdalia Friedson(Founder)inMeghan Hudson(Head of HR)
BoardChristian Garcia(Director)inAndrew Sather(Director)inMichael Keiser(Founder)
Co-investorsAlumni VenturesBloomberg BetaCollaborative FundDetroit Venture PartnersEarth Venture CapitalExpeditions+51 more
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
ESGQuantum ElementsSiC Systems
Portfolio news
latest coverage across their companiesOrange Quantum Systems · eu-startups.com · Apr 21, 2026
Sygaldry Technologies · finsmes.com · Apr 14, 2026
Rhonexum · ggba.swiss · Apr 8, 2026
Modem · thesaasnews.com · Feb 12, 2026
Diffraqtion · thedefensepost.com · Feb 7, 2026
QT Sense · eu-startups.com · Feb 4, 2026
Quantware · quantware.com · Jun 17, 2025
Frequently asked questions
- How many investments has QDNL Participations made?
- QDNL Participations has 15 tracked investments, including 5 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 14 tracked co-investors.
Images
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