THE DEEP BRIEF WITH OWEN LOZMAN I 55 NORTH

Owen Lozman is the Managing Partner of 55 North, the largest pure-play quantum VC fund in the world 

55 North just launched the world’s largest quantum-focused fund. What’s the strategy behind this timing and scale?

Quantum is no longer an academic sandbox – it is a strategic imperative. The moment is right. We’re seeing a mature, fast-evolving quantum supply chain, well-capitalized players on both the public and private side, and an increasing recognition, from governments and industry, that quantum isn’t just promising, it’s necessary. The science, the talent, the infrastructure: they’re all converging. Our fund is about seizing that convergence and driving the shift from research to commercialization.

Why quantum, why now?

I spent years investing along the semiconductor value chain, across Moore’s Law front end and More-than-Moore back end. At M-Ventures, we realized early that the next frontier wasn’t just about scaling up data centers—it was about breaking through their limits. AI’s recent leaps, for example, came from architectural and packaging advances, not raw compute. But even if we blanket the Earth with data centers, they won’t solve the really complex problems we care about, like climate, materials discovery, and encryption. For that, we need quantum.

You’ve said quantum is no longer a science experiment, but a strategic imperative. What do governments and private investors still underestimate about that shift?

Most still see quantum as exotic and years away. But we’ve been here before, go back to the first transistor, and the parallels are striking. Back then, the challenge was scaling and wiring. Today, it’s control and integration. In semiconductors, once Fairchild introduced the first integrated circuits, things scaled fast. We’re now at that inflection point in quantum: yes, it’s early, but history tells us what happens next if we execute well. Governments and investors need to understand that we’re not waiting on a miracle, we’re engineering the next compute layer.

With teams spanning Amazon, Microsoft, IonQ and Merck, your founding team reflects deep industry insight. How does that shape how you assess which companies are actually ready to scale?

We’ve lived through the hype cycles, the pivots, and the hard science. We’ve built and backed companies from zero to scale across science and industry. As scientists and operators, we know what good looks like, not just in pitch decks but in labs, supply chains, and hiring plans. Timing is everything. We focus on finding the right inflection points between technical readiness and real-world value. It’s like climbing a mountain: have the vision for the summit, but plan every step meticulously.

55 North was co-initiated with Vsquared Ventures and Cambium Capital. What role does this pan-European/US collaboration play in shaping your investment approach?

It gives us range. With Vsquared and Cambium, we combine world-class track records across Europe and the U.S. Our collaboration expands our network across the entire ecosystem. But more than that, we bring the governance and structure of Europe together with the capital agility of the U.S. It’s a unique position, and one that’s essential when you’re backing companies operating at the edge of science and commerce.

You’re building an ecosystem from Europe, with a global lens. How do you balance national interests with the reality of a global industry?

To be honest, we don’t see a conflict. 55 North exists thanks to Denmark’s national vision and the foundations and government support behind it, but quantum is a global play. Europe doesn’t need mega-fabs to win here. We need precision, IP, and collaboration. That means thinking like a region, not a collection of countries. Our mission is commercial success – value will flow through the entire supply chain if we get that right.

The fund invests across computing, sensing, and communication. Which verticals do you think are overhyped — and which ones are critically underfunded?

All three have potential, but they’re very different games. Communications focuses on quantum encryption; sensing leverages quantum sensitivity. But the biggest unlock is in computing. That’s where the paradigm shift—and the biggest returns—will happen. Still, business model and product-market fit matter everywhere. Hype doesn’t build an industry. Execution does.

55 North backs companies from seed to scale. Why is that full-stack approach so important in quantum?

Focus is our superpower. Generalist VCs often miss what’s really happening in quantum. We see where bottlenecks are being solved and where full-stack players can shift toward specialization—or consolidation. Being embedded across the stack means we can guide pivots, spot gaps, and help companies build smarter.

It seems, that everyone is starting to look at quantum. What’s one question you always ask a founder to cut through the noise?

Can I talk to your customer?

Let’s fast-forward to 2030. What will define the breakout quantum companies — and what will 55 North have done to help them get there?

We want to be the investor every great quantum founder wants on their cap table. That means cutting through noise, building trust, and delivering support across science and business. We know how hard it is to raise and build. We don’t take our role lightly—and we want to rise the tide for the entire quantum industry. We want to be the voice of reason in quantum and the platform that helps build the future of computing.

If Niels Bohr were a founder today, what kind of quantum company would he build — and would you fund it?

Bohr wouldn’t start a company and that’s a good thing. He’d keep building the scientific foundation. What inspires me is how he brought together diverse thinkers, agnostic of background or nation, and created the culture of collaboration that still drives our field today. That’s the real spirit behind our work at 55 North. Bohr wouldn’t need funding, he’d be funding the rest of us, in spirit.

What’s something the quantum industry should be talking about — but still isn’t?

How long this will really take. We’re still early, and building an industry takes time. But the value creation is already happening—for investors, for founders, for science.

You’ve worked across corporates, science, and startups. What’s one belief you’ve had to unlearn in making this fund a reality?

You need vision, team, and relentless focus on the problem. Obsessing over tech is a trap. Real value comes from solving something important – well.