LUTZ | ABEL advises MIG fund on seed investment in IQM
Helsinki/ Munich — Finnish start-up IQM raises EUR 11.45 million seed capital in a seed financing round. MIG Fonds participates as lead investor with a share of EUR four million. LUTZ | ABEL is advising its long-standing client MIG in the financing round together with colleagues from Finland.
The investment in IQM now adds the fifth start-up to MIG Fonds’ investment portfolio since May 2018. With IQM, the decision fell on a “deep-tech” company from Finland, a spin-off of the renowned Helsinki Aalto University and the VTT Technical Research Center of Finland in Helsinki: The start-up IQM is working on the development of hardware components for quantum computers.
In practical applications, these quantum computers are to be used in the future in medical drug research, in financial markets, or in materials and transportation sciences. The high-performance computers are expected to solve extremely complex computing tasks within hours, a task that previously took several years to complete. With their investment, the participating MIG funds acquire a total share of around 17% in the Finnish company. International investors should open up access to networks in the technology scene and the associated know-how for the start-up. In addition to the Munich-based MIG Fonds as lead investor, Matadero QED, the VC companies Maki.vc and OpenOcean, the Finnish state-owned industrial investor Tesi, the venture capitalist Vito Ventures and other international investors also participated in the financing round as capital providers.