Quantum Exponential Limited is planning to become the London market’s first quantum technology-focused investment firm as it unveiled plans to list its shares on the Aquis Stock Exchange Growth Market in August.
The company said on Friday that as part of the listing it is aiming to raise up to £5mln through a share placing and subscription at 5p per each, adding that it has also raised £2.5mln in a pre-initial public offering (IPO) funding round and has secured commitments for £2.3mln towards the fundraising.
Quantum said its initial strategy will be to “assemble a portfolio of minority investments in leading global quantum technology companies, primarily in NATO allied countries”, adding that it has screened over 175 quantum companies and identified over 60 start-ups that potentially meet its investment criteria.
The group said it intends to create an initial portfolio of 8-10 investments, each of which is expected to have a value of between £100,000 and £500,000.
Quantum added that it has secured an option to acquire shares in Arqit Limited, a developer of cloud-based quantum encryption technology, which is expected to list on the Nasdaq in the coming months with an expected valuation of US$1.4bn.
“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. With revenues from quantum computing, which is just one part of quantum technology, forecast to grow from US$472mln in 2021 to US$1.8bn by 2026, and government spending increasing, I believe now is the right time to gain investment exposure to this growth”, Quantum chief executive Martin Schwedler said in a statement.
"The admission will enable us to access capital which can accelerate our investment decisions, maximise the opportunity ahead and, we believe, deliver rewards and results for all stakeholders. With a significant amount of money already raised and committed, we look forward to welcoming further new investors at this important time for the Company, and to sharing a highly prosperous future", he added.