Linklaters advised EIC Fund on its participation in the Series B equity funding round of PASQAL

Linklaters advised EIC Fund on its participation in the Series B equity funding round of PASQAL

Linklaters, a Magic Circle firm, has advised EIC Fund (European Innovation Council Fund) on its participation in the €100 million Series B equity funding round of PASQAL.

A leader in neutral atoms quantum computing, PASQAL, which was founded in 2019, will use the proceeds of this fundraising to accelerate the company's research and development efforts to build a 1,000-qubit quantum computer in the short-term and fault-tolerant architectures in the long-term.

The EIC Fund has notably invested alongside the Singapore government's holding company Temasek, Saudi Arabia's venture capital firm Wa'ed Ventures, and the French investment bank Bpifrance, through its Large Venture Fund. Continuing investors include Quantonation, the Defense Innovation Fund, Daphni, and Eni Next.

The EIC Fund is a breakthrough initiative of the European Commission to make direct equity and quasi-equity investments (between €500,000 and €15 million) in European high-impact and deep-tech start-ups and scale-ups.

Linklaters informs that since EIC Fund's creation in June 2020, it has advised EIC Fund on more than 20 investments in European startups, including CorWave, Aledia, Sileane, Xenothera, Antofénol, Novolyze, XSun, Rosi, Minuendo, Hiber, EpiEndo Pharmaceuticals, NIL Technology, Trisol Medical et Kahun Medical.

The Linklaters team in Paris was led by Corporate M&A counsel Mehdi Boumedine and associate Yasmine Sadik.