I analyze deep tech, invest in it and help build it.
I’m a quantitative generalist. I’ve spent my career in venture and operating roles at quantum and compute companies, and now work independently as an analyst, researcher and advisor. I mostly think about next-generation compute, technoeconomics and how frontier technology gets funded.
Featured analysis
An Economic Analysis of Quantum Computing
What would a useful quantum computer cost to build and run, and what would customers pay for it? A unit-economics comparison of five qubit modalities, which finds that only single-module approaches like spins in silicon have a realistic path to commercial viability.
Each square's area is proportional to floor space. Source: Table 4 of the paper.
| Superconducting | 20,000 m² | a large data center |
|---|---|---|
| Photonics | 4,000 m² | a small data center |
| Ion traps | 625 m² | a tennis court |
| Neutral atoms | 200 m² | half a basketball court |
| Spins in silicon | 5 m² | a king-size bed |
Writing
Essays and working notes
-
The Shrinking Case for Quantum Networking ↗
Bigger single-chip quantum computers and better error correction are eroding the thesis behind quantum networking startups.
-
Quantum Decacorns — the Good and the Bad ↗
Why $10B valuations for pre-revenue quantum computing companies make me uncomfortable.
-
The Power of a Global Mandate ↗
Why the best venture capital firms look beyond borders.
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About
About me
I'm Kate. I'm a deep tech investor and operator, originally from New Zealand and now based in San Francisco. I've spent my career working with companies built on disruptive technology: backing them, helping build them, and working out what they're worth.
These days I work independently as an analyst, researcher and advisor on early-stage deep tech strategy and fundraising, AI value-chain analysis and deep tech investing. I'm also an angel investor and fund advisor.
Thinking about
- Next-generation compute and data centers
- The economics of utility-scale quantum computers
- The economics of AI: compute costs, data centers and the AI value chain
- Technoeconomics: what frontier technology costs to build, and what it's worth when it works
- Narrative and capital formation for deep tech companies
Background
- Strategic Finance, Diraq. Quantum computing. Series B fundraising strategy, processor economics, and economic analysis for DARPA's Quantum Benchmarking Initiative.
- Investment Principal, ICM Group. Investing in the future of compute. Led investments in Mixx Technologies, Salience Labs and Diraq; helped spin Diraq out of UNSW; board observer at Diraq, Q-CTRL and Switch Technologies.
- BSc, Mathematics and Physics. University of Canterbury.
Selected work
- An Economic Analysis of Quantum Computing (ICM, 2025, PDF), with Matthew Gould.
- First Approximation, my newsletter on frontier tech.
Contact
Get in touch
I'm always happy to hear from founders, investors and funds working on frontier tech, or anyone with interesting ideas.