PsiQuantum, which is focused on building photonics-based quantum computers, quickly became one of the most well-funded start-ups in the sector during 2020 and 2021, raising about $665 million. MFV Partners, a venture capital firm in Los Altos, California, was in on the ground floor as one of the earliest investors in PsiQuantum. Karthee Madasamy, founding and managing partner of MFV Partners, recently spoke with IQT about the firm’s investment philosophy, why MFV chose photonics-based quantum over other quantum hardware architectures, the growing importance of the semiconductor industry in scaling quantum computers, and where quantum technology is going in the future. (Anyone interested in a quantum-powered smartphone?) Below is an edited version of that conversation.