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London start-up aims to fund quantum projects after IPO

David Williams Arqit chairman.jpg

A London start-up company is expected to become the UK’s first in quantum technology to list its shares.

Quantum Exponential, which was incorporated in February 2021, is aiming to raise up to £5 million, and reports say that it has already raised £2.5 million in a pre-initial public offering (IPO) funding round and has secured commitments for £2.3mln towards the fundraising.

Some of the reports name David Williams (pictured), founder of quantum company Arqit, as a member of Quantum Exponential’s advisory board. Williams was founder of satellite company Avanti and CEO until 2017. Capacity has contacted Williams and Arqit marketing director Julie Moon to verify his connection with Quantum Exponential. 

According to the reports, Quantum Exponential will list its shares on the Aquis Stock Exchange (AQSE) growth market in August. This relatively unknown exchange says it is the seventh largest stock exchange group by value traded in Europe.

Company filings name Martin Schwedler as CEO of Quantum Exponential. According to LinkedIn he is managing partner of Arcus Advisers in Vienna and an advisor to Helios Investment Partners in London.

He is also, according to LinkedIn, chairman of the supervisory board of Alfa Bank in Ukraine. Alfa Bank is a private bank in Russia and Ukraine controlled by Mikhail Fridman and is closely connected with mobile operator Veon.

Quantum Exponential said in a release that it “will be the first investment company focused solely on quantum technology – investing in quantum communications, quantum sensing, quantum metrology and quantum computing software and components – bringing deep technical know-how and expertise in this field coupled with unparalleled market access, professional portfolio selection and professional due diligence”.

Reports say that Quantum’s initial strategy will be to “assemble a portfolio of minority investments in leading global quantum technology companies, primarily in Nato allied countries”. They it has screened “over 175 quantum companies and identified over 60 start-ups that potentially meet its investment criteria”, but will select eight to 10 “with a value of between £100,000 and £500,000”.

Schwedler said in a statement: “The proposed admission of Quantum Exponential to AQSE is very exciting. This first of its kind investment category will give institutional and private investors access to many forms of technical innovation, which over the next decade is expected to deliver very strong returns for early investors.”