QuantumLight closes $500M second fund, doubling its first
Nik Storonsky's venture firm now has €432 million to test whether software can pick startups better than partners can. Founders pitching it are pitching a screening system called Aleph.
QuantumLight, the London venture firm co-founded by Revolut chief executive Nik Storonsky in 2023, has closed a second fund at €432 million, or $500 million.
That is roughly double its first fund, which closed at €222 million in May 2025. The gap between the two closes is about 15 months.
The firm's chief executive, Ilya Kondrashov, says the fund passed its original target and was oversubscribed. The target figure has not been disclosed.
The pitch to investors is a process rather than a sector. QuantumLight uses a proprietary system it calls Aleph to screen companies at scale and score them on quantitative signals, with limited human involvement in the assessment.
That is a deliberate departure from the partner-led model, in which a general partner sources a deal through their network, forms a view and argues for it internally. QuantumLight is applying something closer to systematic investing to venture capital.
For a founder, the practical consequence is that the usual currency of a first meeting is worth less here. Relationships and the well-timed introduction matter less to a screen that reads numbers.
What it reads them from has not been detailed publicly. Neither the signals Aleph weighs nor the thresholds it applies have been disclosed, which leaves founders with no obvious way to prepare beyond having the underlying metrics in order.
The firm invests globally and lists AI, fintech, SaaS, health tech and deep tech among its sectors. It has backed 27 companies to date.
Five of those have reached unicorn valuations. Named holdings include the AI infrastructure company Together AI, Function Health, Factory, the legal technology firm Robin AI, the benefits platform Ben and the British energy company Fuse Energy.
The timing is the part worth noticing. The second fund is twice the size of the first before the first has had time to return anything, so the money is backing the thesis and Storonsky's record rather than a measured result.
Storonsky co-founded Revolut in 2015 with Vlad Yatsenko and still runs it. QuantumLight is a separate business, built on the same preference for deciding by data.
Whether the algorithmic model beats the traditional one will not be visible for years. In the meantime, a UK founder who has been told to find a warm introduction has one large fund where that advice does not obviously apply, and where the case has to be made in metrics instead.