Intesa Sanpaolo Invests in Israeli Quantum Computing Firm Classiq
May 16 2022 - 12:57PM
Dow Jones News
By Pierre Bertrand
Intesa Sanpaolo said Monday that it is investing an unspecified
amount in Classiq, an Israeli quantum computing company.
The deal was conducted through the Neva First Fund, an
investment fund that is part of Intesa Sanpaolo's venture capital
arm Neva SGR. Since 2020, Neva SGR has invested about 67 million
euros ($69.8 million) through its the fund, which has a EUR250
million endowment, the Italian banking group said.
Neva SGR Chief Executive Mario Constantini said the development
of quantum computing has high potential for the financial
sector.
"We are confident that our commitment to Classiq will provide
excellent returns," he said.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
May 16, 2022 12:42 ET (16:42 GMT)
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