A new venture fund dedicated to supporting companies that use quantum technology and materials, called the Quantum Wave Fund (QWave), will be launched shortly with around USD 100 mln under management. The investors include Russians Sergei Beloussov, Sergei Kouzmine and other prominent investors and scientists. The fund will target companies working with data networks, optical transistors, new and superior materials, optical electronics and imaging systems and super-accurate navigation clocks, all involving quantum technology and materials related to it. Kouzmine and three colleagues will be heading the fund, with Belloussov serving in the capacity of advisor; he is best known for his co-founding of Runa Capital and Parallels, while Kouzmine is famous for being the CEO that took Ritzio Entertainment Group from USD 40 mln in revenue in 2002 to USD 1.25 bln in less than 10 years. The new fund has already raised 30 per cent of its USD 100 mln target; the fund will operate from Boston, with offices in Moscow and New York City.