Backed by Danish Growth Fund, London-based VC firm 2xN has announced a $120M fund for European and US-based startups in quantum-related areas. The firm was founded by Lars Fjeldsoe-Nielsen, a Silicon Valley operator turned investor, and Niels Nielsen, an entrepreneur and pioneer investor in Quantum Computing to bring the true, high-growth value of network effects to early-stage founders.
The firm previously invested in many Nordic startups including Danish fintech kompasbank, quantum computing software Kvantify, education platform Labster, coaching platform Lenus, charging management system Monta, Finnish engineering productivity platform Swarmia, Norwegian software company Tana, Copenhagen-born online wine marketplace Vivino alongside the other startups across the globe.
Talking about the new fund for Tech.eu, Lars Fjeldsoe-Nielsen said: “Instead of being just another fund, I believe 2xN represents a key moment in the evolution of European VC. Ex-operators and founders are increasingly becoming investors, while the speed of startups increases, and founders are repeat entrepreneurs. This represents a huge opportunity for Niels and I to help share decades of experience, strengthen global networks and build an ecosystem of investment with the next-generation of founders and their innovations. This is only possible by shifting away from the closed systems of old and creating a culture of openness, transparency and shared deals in a way that benefits everyone.”
2xN co-founder Niels Nielsen added: “Having seen the growth of the quantum computing sector from the inside out, the innovations and potential of this space are unmatched. This creates both an opportunity for us as investors, and entrepreneurs and operators at heart, to be a part of something truly ground-breaking while also bringing the credibility and knowledge needed to help our LPs, co-investors and networks, enter this space.”