Australian based firm Square Peg Capital will be joined by Silicon Valley venture capital firm Sierra Venture as syndicate partner alongside existing investors, Sequoia China, Main Sequence Ventures and Horizons Ventures.
Q-CTRL, founded by Professor Michael Biercuk, supplies web based infrastructure software that reduces the instability of quantum computer hardware built by companies such as Google and IBM.
As reported in the Australian Financial Review, the funds will be used to expand Q-CTRL’s team and to support its expansion into the US.
Lead ABL Commercial Partner, Jason van Grieken, commented on the deal: “Since its formation, we have had the pleasure of working closely with Square Peg Capital to help realise their aspiration to become one of the world's best start-up backers for tech founders. This exciting deal further supports their strategy to invest in cutting edge tech businesses”.
Jason was supported on the transaction by Lawyer, Anna Sandiford.
About Arnold Bloch Leibler
Arnold Bloch Leibler is a premium Australian commercial law firm renowned for advising on clients on their most important transactions, commercial issues and disputes. From offices in Melbourne and Sydney, the firm provides advice to a diverse range of entrepreneurial Australian listed companies, family businesses, high-net-worth individuals and international corporations. The firm also has a dedicated pro bono practice providing advice on social, environmental and cultural issues to more than 150 charitable and not-for-profit organisations.