Osney Capital Targets Seed-Stage Cybersecurity with $64M Fund, Eyes Calgary’s Growing Quantum Ecosystem

Insider Brief:

• Osney Capital launches a £50 million (over $64 million) fund to invest in seed-stage cybersecurity startups across the UK and Canada, establishing a Calgary office to support its cross-border strategy.

• Calgary’s growing quantum ecosystem, also supported by QAI Ventures and the Opportunity Calgary Investment Fund, is elevating the city as a strategic location for applied quantum and cybersecurity innovation.

• Osney sees quantum computing as a driver of new cybersecurity challenges and opportunities, backing startups like Mindgard that are building tools for quantum-resilient digital infrastructure.

• Image Credit: Osney Capital

Osney Capital has closed its £50 million (approximately $64 million) debut venture fund focused exclusively on seed-stage cybersecurity startups in the United Kingdom and Canada. As reported by BetaKit, the firm is positioning itself to facilitate two-way expansion between these markets, with an emphasis on building trust-based cybersecurity solutions tailored to national infrastructure and specific technology sectors.

Founded by Josh Walter, Paul Wilkes, and Adam Cragg, Osney is also establishing a physical presence in Calgary, where Cragg—formerly of Innovate Calgary—will lead operations. The firm has already made six angel investments in the UK to validate its thesis and now plans to build a 30-company portfolio through pre-seed and seed investments, writing initial cheques between £250,000 (approximately $320,000) and £2.5 million (approximately $2.5 million).

The British Business Bank will contribute as a limited partner, with additional support from IronGate Capital Advisors, East X Ventures, exited cybersecurity founders, and Canadian family offices. Osney claims to be the only VC fund focused solely on seed-stage cybersecurity in both markets.

Calgary as a Growing Hub for Applied Quantum and Cybersecurity

Osney’s Calgary expansion aligns with the city’s broader effort to position itself as a center for emerging technologies, including quantum computing and cybersecurity. As noted by BetaKit, Cragg cited Canada’s leadership in quantum, AI, and data infrastructure as a key factor behind the firm’s cross-border strategy.

This announcdement comes as Calgary has been actively deepening its quantum footprint. The Opportunity Calgary Investment Fund recently committed CA$675,000 to QAI Ventures—a Switzerland-based venture firm and accelerator focused on Quantum AI—to run a quantum pre-accelerator and accelerator program at Calgary’s Quantum City. The initiative is expected to train 54 individuals and invest in three local companies building applied quantum solutions. Calgary Mayor Jyoti Gondek called it part of the city’s strategy to support complex, high-impact innovation sectors.

Startups in the first cohort are working on applications in quantum computing, imaging, sensing, and security technologies. This international collaboration speaks to how Calgary is developing itself a strategic location for commercialization and industry-academic integration, an environment Osney Capital appears ready to engage.

Quantum Computing’s Relevance to Cybersecurity Investment Strategy

Quantum computing is often central to the conversation when discussing emerging cybersecurity challenges, as quantum algorithms are a problem for conventional cryptographic systems. While scalable, fault-tolerant quantum computers are not yet widely available, the anticipated capabilities of such machines have accelerated efforts to implement post-quantum cryptography standards across industry and infrastructures where data security is simply non-negotiable, such as government and defense efforts.

Startups focused on quantum-safe security protocols, secure multiparty computation, and quantum random number generation are gaining traction. Osney’s portfolio already includes Mindgard, a London-based startup developing AI security tools with future quantum threat models in mind.

As interest in quantum-resilient infrastructure grows, so too will Calgary’s rise in quantum, and Osney’s focus on cross-border seed capital could intersect to support the next generation of secure, scalable technologies.