Quantum Wave announces its first venture investments

Quantum Wave (Qwave), a Russian VC fund focused on support of quantum physics based projects, has announced its first investments.

As innovation news portal reports, Quantum Wave (Qwave), a Russian VC fund focused on support of projects that draw on quantum physics, has funded its first project companies. These are Estonia?s Clifton, the U.S.? Centice, and Nano-Meta Technologies, a Russo-American company. How much the fund has invested in each project has yet to be specified; it is known, however, that Qwave has put up a total of $7m for the three companies. The source quoted Anna Shangina, a spokesperson for the fund, as saying that in each of the three Qwave ?is now a minority shareholder.? The fund already announced in early 2013 a $330,000+ investment in Nano Meta Technologies, a resident of the Skolkovo innovation hub outside Moscow. According to Ms. Shangina, that investment is ?a small part? of the $7m announced this week. Clifton has developed GaAs diodes, a new type of semiconductor devices with a wide range of applications from mining to space explorations...