Novo Holdings has published its Quantum Investments Annual Review 2025, outlining strong progress in its strategy to accelerate the development of a competitive European quantum ecosystem.

Since launching its dedicated Quantum Investments Team within Novo Holdings Seed Investments area in 2024, the company has built a growing portfolio and has now reached investments of approximately DKK 746 million (€100 million)

The investments are part of Novo Holdings’ broader DKK 1.4 billion (€188 million) long-term commitment to quantum technologies – a strategic initiative designed to strengthen the link between world-class science, industrial innovation and societal impact. The approach combines early-stage and fund investments with efforts to build partnerships across research, academia and venture capital.

“Our first year has been about building strong foundations – establishing a balanced portfolio, developing partnerships and putting our strategy into motion,” said Jeroen Bakker, Partner, Novo Holdings Quantum Investments. “We are seeing real momentum across the European quantum ecosystem, and Denmark is well positioned to play a leading role in its continued growth.”

Supporting Europe’s quantum ecosystem
Novo Holdings’ quantum investment portfolio spans hardware, software and specialist venture funds, connecting Nordic excellence with global innovation hubs:

Sparrow Quantum (Denmark) – Series A investment supporting the industrial scale-up of deterministic photonic chips for computing and sensing.

Phasecraft (United Kingdom) – co-lead investor in a USD 34 million Series B round developing quantum algorithms for materials, energy and life sciences.

55 North (Denmark) – cornerstone investor, alongside Denmark’s EIFO, in a new Copenhagen-based quantum venture fund with an initial close of DKK 1 billion (€134 million).

Quantonation II (France) and Playground Global IV (United States) – fund investments broadening exposure across the international quantum stack.

Playground Global IV (United States) – investment in a deep-tech fund focusing on next-generation computing and enabling technologies.

“Quantum technology represents a long-term strategic opportunity for Europe,” said Søren Møller, Managing Partner, Seed Investments, Novo Holdings. “Through our Seed Investments platform, we aim to bridge cutting-edge research with commercial development. By investing early, with scientific insight and patient capital, we can help build a strong and connected ecosystem that enables innovation to scale.”

Read the full Report here.