INTESA SANPAOLO INVESTS IN QUANTUM COMPUTING
WITH NEVA SGR AND ITS FUND NEVA FIRST

 

• Transaction concluded with Classiq, a leading Israeli company in the sector.
• Quantum computing will lead to a cybersecurity revolution and enable leading public and private organisations to solve complex problems and create innovative solutions across disciplines.
• Among the sectors that will benefit most from quantum computing are financial services, banking and insurance.
• Mario Costantini, CEO of Neva SGR: "Quantum computing is a key technology for the future, with very high potential for use in many sectors, including the financial sector, which is already studying and experimenting with it. We are confident that our commitment to Classiq will provide excellent returns and that quantum computing will find an increasing place within our broad and diverse portfolio of investments in the best domestic and international fintech and deeptech companies."

Turin, May 16, 2022 - Neva SGRan Intesa Sanpaolo Group company 100% controlled by Intesa Sanpaolo Innovation Center, has concluded, through its Neva First Fund, an investment in Classiq, an Israeli company that leads the innovative field of quantum computing.

Quantum computing is a cutting-edge technology that allows the application of a new computational paradigm to obtain more and more complex calculations, not manageable with traditional computers, regardless of their processing power.

Quantum computers are built from qubits (quantum bits): data storage and processing units that obey the laws of quantum mechanics instead of those of electromagnetism on which ordinary chips are based. Unlike bits, qubits can process much more information at once, while still returning output in a standard digital format that can be interpreted by traditional computing systems.

Quantum computing will lead to a cybersecurity revolution and enable leading public and private organisations to solve complex problems and create innovative solutions across disciplines. Among the sectors that will benefit most from quantum computing, both in the short and medium to long term, the financial services, banking and insurance sectors stand out. Possible use cases range from the creation of  higher-performing machine learning algorithms, able to return more accurate outputs, to the resolution of optimisation problems, for example of a financial portfolio or of a system for the allocation of guarantees in the credit sector, up to scenario simulations, such as the prediction of the value of a financial instrument or the execution of stress tests to evaluate the reactivity to unexpected events.

"Quantum Computing is a key technology for the future, with very high potential for use in many sectors, including the financial sector, which is already studying and experimenting with it," commented Mario Costantini, CEO of Neva SGR.  “We are confident that our commitment to Classiq will provide excellent returns and that quantum computing will find an increasing place within our broad and diverse portfolio of investments in the best domestic and international fintech and deeptech companies."

Since 2020 Neva SGR has invested approximately €67 million through its €250-million Neva First Fund. After the recent investments in vFunction, an Israeli-American company that has created the first and only solution to automatically and rapidly transform monolithic apps into large-scale microservices, in Ternary, an American company that has developed a SaaS platform to analyse, understand and optimise the costs deriving from the use of the Cloud, and in Classiq, Neva SGR is preparing to conclude new deals in other Italian and foreign companies operating in the Cybersecurity, AgriTech and Life Science sectors.

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