European venture capitalists see a fresh wave of SPAC activity as Finnish quantum‑computing pioneer IQM and French quantum‑scaleup Pasqal each filed to list through a special purpose acquisition company this week. The moves mark the first high‑profile SPAC deals on the continent since the 2022‑23 slowdown, signaling renewed appetite for shortcut listings among deep‑tech founders.

SPACs surged in 2020‑21, buoyed by easy credit and a rush of retail investors, but a string of under‑performing de‑spun entities and heightened regulatory scrutiny cooled enthusiasm worldwide. European issuers now face tighter listing standards, yet quantum firms argue that a SPAC can deliver the speed and valuation certainty that traditional IPO routes often lack.

By tapping SPAC capital, IQM and Pasqal aim to accelerate chip development and scale‑up production ahead of a projected surge in enterprise demand for quantum services. If the listings succeed, they could pave the way for other deep‑tech startups to bypass protracted public‑market processes, prompting regulators to refine oversight of European SPAC transactions.

Investors will scrutinize the pricing of the SPAC trusts, as earlier deals left some shareholders with diluted stakes. Nonetheless, the infusion of hundreds of millions of euros could bolster Europe’s quantum ecosystem, reducing reliance on U.S. capital and positioning the region as a competitive hub for next‑generation computing.