55North is a Copenhagen-based venture capital firm dedicated exclusively to quantum technologies. Founded by Owen Lozman, a former managing director at M Ventures (the corporate venture arm of Merck), the fund positions itself as the world’s largest pure-play quantum VC. Its mission is to accelerate quantum startups from lab to market, bridging deep research with commercial applications across Europe.
The fund invests in startups developing quantum computing, quantum sensing, quantum communications, and enabling technologies such as cryogenics and specialized hardware. 55North emphasizes European founders and seeks to catalyze the regional ecosystem, where breakthroughs are converging with commercial viability.
Launched in October 2025, 55North’s debut fund closed its first tranche at €134 million, targeting a total of €300 million ($352 million). Anchor investors include EIFO, Denmark’s state-owned export and investment fund, and Novo Holdings, a leading biotech investment firm.
The fund has already backed IQM Quantum Computers (Finland) and Kiutra (Germany).
Leadership
The firm is led by managing partner Owen Lozman, who spent more than seven years at M Ventures and previously worked in R&D at Merck Group. General partners include Helmut Katzberger, former global practice lead at Amazon Web Services, and Kai Hudek, a former senior manager of product engineering at IonQ, a quantum computing company.
Investment Strategy
55North focuses on supporting quantum startups from their earliest stages through to commercial scale-up.
By concentrating exclusively on quantum, the fund aims to be a long-term partner with sector-specific expertise, leveraging both technical backgrounds and corporate networks to help founders navigate the transition from research to market.
Notable Investments
Early portfolio companies include:
Notable Exits
As a newly launched fund, 55North does not yet have exits. Lozman, however, brings a track record from M Ventures, where he oversaw deep tech and performance materials investments that generated liquidity for Merck.
Other
Global corporate-backed investment in quantum technologies has surged, surpassing $1.25 billion in Q1 2025. Nvidia, for example, backed three startups in September 2025 alone. Against this backdrop, 55North aims to position Europe as a global leader in quantum innovation.
