Serendipity Capital Invests in Australian-based Emergence Quantum – The Quantum Insider
Insider Brief
PRESS RELEASE — Emergence Quantum, a global R&D company in quantum and next-generation computing, today announced a strategic partnership with Serendipity Capital, a leading global investor in critical technologies. The partnership accompanies a significant investment in Emergence Quantum.
The deal will bring together EQ’s technical know-how and understanding of the quantum ecosystem with Serendipity Capital’s investment muscle and deep networks. Together the partnership will establish new strategic companies and products across the advanced computing sector.
Launched in 2025, Emergence Quantum was revenue positive from day one, bootstrapping through a time of swift growth while supporting a large and highly-skilled team of 25, most of whom have PhDs. This strong pipeline of current and upcoming contracts has positioned Emergence Quantum to be very selective about finding a partner that genuinely aligns with EQ’s ethos and long-term perspective.
David Reilly, CEO and co-founder of EQ, said: “Serendipity Capital understands what it takes to scale deep technology, and shares our conviction that the hardest engineering problems in quantum are where the real value lies.
“This partnership gives us the capital and the global networks to further accelerate on our own terms — dramatically growing our work with customers and partners worldwide while preserving the independence and technical depth that define us. It’s a genuine alignment of technical vision and business ambition, and we’re excited about what we’ll build together.”
EQ’s expertise will deepen Serendipity Capital’s technical capability across quantum technologies and cryogenic computing, with applications across semiconductors and other areas of advanced computing.
The team’s expertise in cryogenic computing is critical to scaling quantum systems and has broader applications across deep tech, including next-generation classical computing, data centre infrastructure, as well as semiconductor and superconducting systems. The company works with several leading global quantum and technology companies across computing, sensing and advanced compute applications.
Emergence Quantum is led by world-class founders David Reilly and Thomas Ohki, who combine deep scientific credentials with significant operating experience across large corporate, defence and government environments.
David previously led Microsoft Quantum’s readout and control architecture effort as head of its Australian hub, while Thomas founded and led the Quantum Engineering and Computing group at Raytheon/BBN Technologies before joining Microsoft Quantum’s Sydney hub as Quantum Engineering Site Lead. Both David and Tom hold joint academic positions as Professors in the School of Physics at The University of Sydney. They are supported by 25 highly specialised scientists and engineers, most hold PhDs and have worked together for a decade, and bring significant industry experience to the table. This depth of expertise allows the group to work across quantum modalities, hardware providers and geographies, giving customers access to a highly specialised engineering capability that is scarce globally. The team is growing swiftly, with headcount soon to be announced in the United States.
Since inception, Serendipity Capital has built a differentiated investment model centred on a global ecosystem of over 130 operators, founders, academics and national security experts. The model has delivered strong results across origination, due diligence and portfolio value creation, with the group delivering an internal rate of return of 50% since inception and an 6.6x multiple on invested capital, reinforcing the firm’s position as a leading investor in quantum and other critical technologies.
The partnership announced today represents a step-change in this strategy and in Serendipity Capital’s technical capability, providing access to deeper thematic and sector knowledge while strengthening its ability to originate proprietary opportunities, conduct technical due diligence and support portfolio companies.
The partnership will also deepen connectivity between Emergence Quantum and relevant customers and partners across Serendipity Capital’s ecosystem, supporting the formation of new products and companies. In turn, Serendipity Capital will support EmergenceQuantum through strategic planning, capital formation and customer introductions.
The partnership reflects Serendipity Capital’s long-term investment approach and permanent capital structure, which allow the firm to make strategic investments that prioritise capability building and sustained value creation.
Rob Jesudason, CEO and Founder of Serendipity Capital, said: “I am delighted we are partnering with David, Thomas and the Emergence Quantum team. From the outset, we’ve focused on combining capital with genuine technical and operating depth. That approach has shaped how we’ve built our portfolio of quantum technology companies, including global leaders like Quantinuum through to emerging companies and specialists such as QuantX Labs, Delta.g, Moth and Monarch Quantum. This partnership with Emergence Quantum builds on this approach, further strengthening our embedded technical capability as these technologies continue to scale.”
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