Firgun Ventures Research
Investment Thesis
Firgun Ventures is a London-based venture firm that describes itself as the first VC specializing in Series A/B quantum companies. Its thesis is that quantum technology is at an inflection point (exploding patent filings, classical computing limits reached) and that most quantum capital sits in seed and research-stage rounds, leaving a funding gap at Series A/B. Firgun aims to bridge that gap and be the first call for quantum entrepreneurs ready to scale into category leaders. The firm cites a $1T+ potential for quantum this decade and long-term applications in healthcare and drug discovery, energy and batteries, finance, aerospace, defense and cybersecurity.
Sector Focus
The firm invests only in quantum technology across three areas:
- Quantum computing
- Quantum communications and cryptography
- Quantum sensing and imaging
It also considers platform-enabling technologies in the quantum stack, including photonics, cryogenics, materials, control systems and integrated hardware. It looks for companies that have moved from lab to market: validated or patent-protected technology, early customer pilots or paid engagements, a credible commercialization path, and a team that goes beyond academic origins.
Stage Focus
Series A and Series B (early growth stage). The firm says it concentrates on commercialization, industrial partnerships and translational deeptech rather than pre-seed research. The founders were angel investors in quantum startups from 2016.
Check Size
Not published. The fund targets $250M with a $70M first close, and the stated goal is to partner with 15-20 leading quantum companies by 2030, which implies roughly $10M or more per company including follow-on reserves. This is an inference, not a stated figure.
Lead Tendency
Not stated. Some portfolio announcements (for example Quantum Motion's $160M Series C) show Firgun participating in larger rounds. Treated as unknown.
Recent Activity
- Nov 2025: launched a $250M target fund and announced a $70M first close, anchored by the Qatar Investment Authority with family offices and Ilyas Khan (founder of Cambridge Quantum Computing / Quantinuum) as early backers.
- Feb 2026: investments announced in Quantum Elements (Los Angeles, AI-powered quantum platform) and Photonic Inc. (Canada).
- May 2026: first European investment, Quantum Motion (UK).
- Jun 2026: Oxford Quantum Circuits (OQC) and Silicon Quantum Computing (first Australian investment).
- Jul 2026: ZuriQ (Switzerland) announced.
- Also in 2026: named a top quantum investor by The Quantum Insider, listed in the Entrepreneur UK Top 100, and launched the Time to Talk Quantum podcast.
The fund is actively deploying.
Portfolio Highlights
Current fund: Photonic Inc., Quantum Elements, Quantum Motion, Oxford Quantum Circuits, Universal Quantum, Silicon Quantum Computing, ZuriQ.
Founders' prior angel investments: Cambridge Quantum Computing (2017, now Quantinuum, listed on NASDAQ at a stated $16.8B valuation as of 4 June 2026), Aegiq, and Commutator Studios.
Team
- Dr Kris Naudts, Founding and Managing Partner: former academic psychiatrist at King's College London, solo-founder of Culture Trip (raised over $100M), early angel in Cambridge Quantum Computing.
- Zeynep Korutürk, Founding Partner: former Executive Director at Goldman Sachs, co-founder of the GS Tech Initiative, early quantum angel investor.
- Alexandre Perrin: ex-Head of Ventures at XTX Markets.
- Cedric De Schaut: ex-Deloitte data engineer and analyst.
- Mete Atatüre: Professor of Physics and Head of Cambridge's Cavendish Laboratory, advises on technical due diligence.
- Advisory Council: Kris Peeters, Ilyas Khan, Martin Murphy, Yariv Adan, Eddie Alleyn, Augustine Syn.
Decision Process
Partnership led by two founding partners, with technical due diligence from academic advisors and a proprietary quantum industry knowledge graph tracking companies, founders, patents, talent flows and funding events.
Founder Preferences
Technically excellent founders who can recruit, understand the market and have a roadmap to revenue, not only scientific achievement. The firm is a signatory to the Investing in Women Code and cites values of curiosity, excellence, execution, iteration and integrity, plus a 'first, do no harm' ethos.
Geographic Focus
Global mandate, with portfolio so far in the UK, US, Canada, Switzerland and Australia. The firm names Europe, the US, UK, Canada, Israel and selected Asia-Pacific hubs as growth areas.