Storonsky's QuantumLight closes oversubscribed $500M fund to back AI startups
What's the deal? QuantumLightDealroom has a profile for this one. Try Dealroom →, the London investment firm co-founded by Revolut's Nik StoronskyDealroom has a profile for this one. Try Dealroom → in 2023, has closed its second fund at $500 million, according to Sifted. Chief executive Ilya KondrashovDealroom has a profile for this one. Try Dealroom → said the fund was oversubscribed.
Why now? The close comes 15 months after QuantumLight's debut fund reached $250 million in May 2025, and roughly seven months after reports that the firm was preparing a second round. Doubling the fund in barely a year — while raising it oversubscribed — signals investor appetite.
What's the endgame? QuantumLight uses Aleph, its in-house AI model, to evaluate growth-stage companies with little human input. It invests across AI, fintech, SaaS, healthtech, and deep tech, and has backed 27 companies so far, including five unicorns.
The portfolio includes Together AI, Function Health, Factory, Robin AI, Ben, and Fuse Energy, which was recently valued at $5 billion.
What could go wrong? QuantumLight's earliest investments are less than three years old, and venture returns typically take years to appear. This raise reflects trust in Storonsky's reputation and Aleph's promise rather than proven results.
Kondrashov has acknowledged the firm is still young, has a short track record, and is counting on the model to keep improving. It remains unclear whether Aleph can outperform experienced partners over a full investment cycle.
The signal: QuantumLight's pitch challenges the traditions of venture capital, swapping partner instinct and networks for a systematic, data-driven model closer to a quant hedge fund. With $500 million in fresh capital, the firm now has the means to test whether software can out-pick the humans.
Read more: The Next Web - Sifted
Image credit: Revolut
