QDNL Participations
QDNL Participations, now rebranded as Ground State Ventures, is an early-stage venture investor focused on quantum technology startups.
- Investor type
- Dedicated quantum VC
- Quantum focus
- Dedicated quantum investor
- Assets under management
- The website says the fund hit $88 million at the time of the rebrand announcement on 28 April 2026.
- Quantum investments named in sources
- QuantWare, QT Sense, Diffraqtion, EuQlid, Quantum Elements, Orange Quantum Systems, Rhonexum, Arq, EMode Photonix, RhymeQ, Sygaldry
- Key people
- Ton van 't Noordende, Founding General Partner
Chad Rigetti, Founding Partner
Kris Kaczmarek, Partner
Cheryne Jonay, Analyst - Website
- qdnlparticipations.com
Ground State Ventures' current website states that QDNL Participations changed its name to Ground State Ventures on 28 April 2026. The site describes the firm as backing early-stage quantum technology startups worldwide across quantum computing, sensing, communications, and infrastructure, indicating a dedicated investment focus on quantum technologies.
The website identifies multiple portfolio companies and says the fund reached $88 million at the time of the rebrand. Portfolio companies explicitly referenced on the site include QuantWare, QT Sense, Diffraqtion, EuQlid, Quantum Elements, Orange Quantum Systems, Rhonexum, Arq, EMode Photonix, and RhymeQ, among others. The investment team named on the website includes Ton van 't Noordende, Chad Rigetti, and Kris Kaczmarek.
Sources
Facts on this page come from the sources below, retrieved by DesignQuantum.
- Ground State Ventures gsv.vc
Last verified: October 28, 2026