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    Investing in the Future of Compute

    The ICMGF VCC - ICM HPQC Fund (ICM HPQC) invests in the technologies enabling the next generation of computing - from high-performance and quantum computing to AI infrastructure, photonics and advanced semiconductor technologies.

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    Fund 1 is now closed to new investment. Fund 2 is launching soon.

    Our Services

    A Proven Thesis. A New Fund.

    The demand for computer power is accelerating. AI, quantum computing and increasingly complex workloads are pushing existing infrastructure towards physical, economic and energy limits.

     

    ICM HPQC invests at the point where those constraints create opportunities - backing emerging technologies that can make computing more powerful, more efficient and more scalable. 

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    Our first fund has now completed its first year and is almost fully invested across five companies spanning the compute stack.

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    Fund 1: The First Chapter

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    From these to portfolio

    Since its launch, HPQC Fund 1 has invested across a range of technologies addressing some of the most important bottlenecks in modern computing.

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    The portfolio now spans quantum computing, quantum software, silicon photonics, optical interconnects and neuromorphic computing.

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    Diraq

    Silicon-based quantum computing technology designed to scale towards commercially useful quantum systems.

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    Mixx Technologies

    Next-generation optical interconnect technology for high performance computing and AI infrastructure.

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    Q-CTR

    AI-powered infrastructure software for quantum computing and quantum sensing.

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    Salience Labs

    Silicon photonics and ultra-fast optical switching for AI data centre infrastructure.

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    Explore the portfolio here.

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    Fund 2: The Next Generation

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    Building on what we have learned

    HPQC Fund 2 is launching soon. ​The opportunity in next generation computing continues to expand. AI infrastructure is driving unprecedented demand for compute, while the industry is confronting constraints across power, connectivity, memory, cooling, semiconductor scaling and system architecture.
     

    Fund 2 builds on the experience and network developed through Fund 1, with a continued focus on identifying high quality companies developing technologies capable of addressing the next generation of compute challenges.

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    We believe compelling opportunities are emerging across the compute stack - not simply at the processor level.

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    Fund 2 will seek to identify and invest in the technologies that can help unlock the next wave of computing.

    ​​© 2026 by ICMGF VCC. All rights reserved.

    The information on this website should not be considered an offer or solicitation to deal in the ICM HPQC Fund (Registration number T22VC0112B SF003) or ICM HPQC Fund 2 (Registration number T22VC0112B SF007) (the “Sub-funds”). This information is intended solely for Accredited and Institutional investors as defined under the Securities and Futures Act 2001 of Singapore. ICM HPQC Fund and ICM HPQC Fund 2 are registered Sub-Funds of the ICMGF VCC (the VCC), a variable capital company incorporated in the Republic of Singapore. The assets and liabilities of ICM HPQC Fund and ICM HPQC Fund 2 are segregated from other Sub-Funds of the VCC, in accordance with Section 29 of the VCC Act.


    All investments carry risks, including the risk of loss of capital, and may not be suitable for everyone. The information on this website is solely for information purposes and is not intended to be, and should not be construed as an offer, solicitation or recommendation to buy or sell investments. If you are in any doubt as to the appropriate course of action, you should consult your own independent tax/financial adviser, stockbroker, solicitor, accountant or other professional adviser.


    Past performance is not necessarily indicative of future performance. Investment return and principal value will fluctuate, and investors may not recover the full amount originally invested. The information contained herein has been obtained from sources believed to be reliable; however, no representation or warranty is given to the current accuracy, completeness, or reliability, and HPQC Fund accepts no liability for decisions taken based on such information.


    This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.

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