Fusion Fund Fund IV | 2025 VC Fund

Fusion Fund

cb Email

Status

ACTIVE

Global HQ

Palo Alto, United States

Countries of investment

United States
Canada
United Kingdom
Israel

Investment stages

Pre-Seed
Seed
Series A
Series B

Industries

Enterprise AI
Healthcare
Industrial Technology
DeepTech
Semiconductors
HealthTech
Enterprise Software

About
Fusion Fund is a Palo Alto-based venture capital firm focused on backing industry-transforming enterprise AI and deep tech founders. Their focus spans enterprise AI, healthcare, industrial technology, and deep tech across the United States, Canada, United Kingdom, and Israel. The firm supports deep tech founders from pre-seed through Series B stages.

Min check size: $500K
Max check size: $3M
Fund size: Unlock
NPS: Unlock

Investment Thesis

Fusion Fund is a pre-seed to Series B stage venture capital firm deploying capital across enterprise AI, healthcare, industrial technology, and deep tech sectors. They invest in industry-transforming deep tech and enterprise startups led by technical founders. The firm differentiates itself through founder Lu Zhang's engineering PhD, strategic corporate LP network including Fortune 500 companies, and technical due diligence expertise across enterprise applications.

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Manager's Experience

Founded in 2015 by Lu Zhang (Founder and Managing Partner, engineering PhD, former founder of medical device company Acetone which was acquired). Team includes Michele Bettencourt (Board Partner), Shane Wall (Partner), and other investment professionals. Manages Fund III totaling over $250M AUM across three funds. Backed by Fortune 500 corporations, institutional investors, and strategic LPs including Salesforce Ventures. Portfolio includes Zoox (acquired by Amazon), Boom Supersonic, Espresso Displays, Owlet Baby Care, Reali, Automat, Vise, Notarize, and other enterprise AI and deep tech companies. The firm leverages Lu Zhang's technical background and strategic corporate LP network to provide portfolio companies with unique access to Fortune 500 pilot opportunities, hiring pipelines, and industry expertise across enterprise AI, healthcare, industrial technology, and deep tech sectors.