Prime Highlights
- BlackRock has committed $57 million to IQM Quantum Computers ahead of its US listing.
- IQM’s merger with a Nasdaq-listed SPAC values the company at roughly $1.8 billion.
Key Facts
- BlackRock is the world’s largest asset management firm, overseeing trillions of dollars in investments globally.
- IQM, founded in 2018 in Finland, has sold 21 quantum computers to 13 customers worldwide.
Background
Global asset management giant BlackRock has committed around $57 million to IQM Quantum Computers, the Finland-based quantum computing firm that is preparing to go public in the United States. The investment forms part of the Private Investment in Public Equity financing that has been put together ahead of IQM’s planned listing.
IQM is merging with Real Asset Acquisition Corp., a Nasdaq-listed company, through a SPAC deal, which is a quicker way to go public. The deal values IQM at about $1.8 billion before new investment. After the merger, IQM will become the first European quantum computing company to be listed on the stock market.
The overall funding structure includes about $134 million in PIPE financing at $10 per share from institutional investors, an estimated $24 million from warrant exercises before closing, and roughly $172 million in cash already on IQM’s balance sheet as of year-end 2025. IQM anticipates having more than $450 million in cash on its balance sheet after the purchase is complete.
The involvement of BlackRock indicates that mainstream institutional investors are becoming more confident in the field of quantum computing. Among the biggest institutional asset managers, quantum computing seems to be treated as infrastructure rather than as an exposure to speculative technology.
Founded in 2018 and headquartered in Espoo, Finland, IQM has manufactured 30 full-stack quantum computers, sold 21 systems to 13 customers, including four of the world’s top ten supercomputing centres, and reported at least $35 million in 2025 revenue with over $100 million in bookings.
Following the completion of the merger, IQM plans to list on both the NYSE and the Helsinki Stock Exchange. The deal still requires approval from shareholders of both companies before it can be finalised, with closing expected around June this year.
