Prime Highlight
- Firgun Ventures has closed its first funding round at $70 million, with major backing from the Qatar Investment Authority to accelerate quantum innovation.
- The London-based fund aims to invest in early-stage quantum start-ups and help transform the UK’s research strength into global commercial leadership.
Key Facts
- Firgun Ventures plans to build a $250 million fund and will begin investing immediately in UK and international quantum start-ups.
- The UK hosts 64 of the world’s 513 quantum start-ups, ranking second globally, supported by strong research hubs in Oxford, Cambridge, and London.
Background
A new British venture capital fund focused on quantum technologies has secured major financial backing from Qatar, giving a strong lift to the UK’s fast-growing deep-tech sector. Firgun Ventures announced the close of its first fundraising round at $70 million (£53 million), with the Qatar Investment Authority (QIA) making the largest contribution. Additional support came from family offices and Ilyas Khan, founder of quantum computing leader Quantinuum.
Co-founded by former Culture Trip CEO and academic Kris Naudts and ex-Goldman Sachs banker Zeynep Koruturk, Firgun Ventures aims to build a $250 million fund. It will start investing immediately from London, targeting early-stage quantum start-ups in the UK and overseas.
Naudts said the UK is well-positioned due to its strong university research base and the concentration of quantum talent across Oxford, Cambridge, and London. Data from the Tony Blair Institute shows the UK hosts 64 of the world’s 513 quantum start-ups, ranking second behind the United States.
He noted that access to funding remains a challenge for UK innovators. “The country has strong ideas and talent, but investment is needed to scale them,” he said.
Firgun’s founding team brings deep expertise with prior investments in Quantinuum, which recently reached a valuation of $10 billion. Their focus is on backing technologies that could push major breakthroughs in materials science, logistics, climate modelling, and healthcare.
Naudts shared that his personal medical experience strengthened his belief in quantum computing’s future role in faster and more accurate disease diagnosis.
With Qatari capital supporting its ambitions, Firgun Ventures is positioning itself as a new London-based player in the global race to commercialise quantum innovation, aiming to turn UK research strength into world-leading companies.