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Alexa von Tobel is investing heavily in quantum computing, convinced that the technology could unlock scientific discoveries in ways artificial general intelligence cannot. Speaking from the New York City office of Inspired Capital, the venture capital firm she runs with former US Commerce Secretary Penny Pritzker, von Tobel explained why quantum computing hardware is her current focus.
In addition to backing AI startups such as BrightAI and PreemptiveAI, Inspired Capital manages nearly $1 billion in assets. In 2023, von Tobel began exploring quantum computing and identified it as a potential innovation curve that could rival AI in impact. Her firm recently invested in Logiqal, a startup building one of the first scaled quantum computers.
Von Tobel emphasizes the critical role of hardware. “We need to build the first quantum computers before we can do anything else,” she said. She focused on Logiqal’s founder, Professor Jeffrey Thompson at Princeton, whose team is developing a neutral atom-based quantum computer using ytterbium. This approach, known as erasure conversion, allows for scaling tens of thousands of qubits efficiently.
Inspired Capital sees quantum computing as a phased evolution. Early stages focus on hardware, establishing reliable qubits, and achieving consistent operations. If successful, these devices could eventually support simulations and computations currently impossible with classical systems.
The potential applications are broad. Von Tobel highlights pharmaceutical innovation, material science breakthroughs, logistics optimization, and even long-term projects such as space exploration. Each application relies on quantum’s ability to perform highly complex calculations simultaneously across vast states, which conventional computers cannot achieve.
“Quantum is today where AI was back in 2015,” von Tobel said. At that stage, AI research was concentrated in labs, but practical applications were beginning to emerge. Quantum is entering a similar inflection point: theoretical breakthroughs are converging with experimental progress.
Von Tobel also discussed the competitive landscape. Unlike AI, where expertise can be somewhat simulated, quantum computing requires deep specialization. PhDs with decades of experience dominate the field, making it difficult to overstate the importance of selecting the right talent and technology.
Inspired Capital evaluates potential quantum investments through a combination of hardware potential and talent assessment. “If you’re backing the right hardware and the right people, the upside is exponential,” von Tobel explained. Convexity drives their investment thesis: most bets may fail, but successful breakthroughs could yield hundreds of times the initial value.
Von Tobel continues to apply AI tools extensively in her work, from research to sourcing investment opportunities. While quantum may become the next big frontier, she acknowledges that AI remains integral in assessing complex technical systems and predicting future trends.