Fusion Fund

Fusion Fund invests in early stage companies with technological and data advantages in industrial, enterprise, and healthcare applications.

ActiveVenture Capital

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Updated: Feb 17, 2026 ·

Financial History

Total Raised

N/A

Valuation

N/A

Investments Made

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Nov 1, 2025	Portal26	$9.0M Series A	—	Refinery Ventures, Shasta Ventures
Oct 1, 2025	SenseNet Inc.	$14.0M Series A	—	Day One Ventures, Hummingbird Ventures, Indicator Ventures, Valhalla Ventures, Matt Mickiewicz
Sep 1, 2025	Mojo Vision	$75.0M Series B	—	Flucas Ventures, HP Tech Ventures, Greg Papadopoulos, New Enterprise Associates, TDK Ventures, VanedgeCapital Partners, Wayne Chang
Jun 1, 2025	zeroRISC	$10.0M Seed	—	Accomplice VC, Alabaster, Amadeus Capital Partners, Fontinalis Partners, Founder Collective, Foundry Group, Playfair Capital, Primetime Partners, Scale Asia Ventures, SOSV, Stata Venture Partners, Tiger Global Management, Jason Haider, Joi Ito, Paul Veugen, Pete Hutton, Rajeev Surati, Scott Belsky
May 1, 2025	Rhino Federated Computing	$15.0M Series A	—	—
Apr 1, 2025	Blumind	$14.0M Series A	—	—
Apr 1, 2025	Tracera	$12.0M Series A	—	Accomplice VC, Alabaster, Founder Collective, Foundry Group, Primetime Partners, Scale Asia Ventures, SOSV, Stata Venture Partners, Tiger Global Management, Jason Haider, Joi Ito, Paul Veugen, Scott Belsky
Mar 1, 2025	Chef Robotics	$21.0M Series A	—	Alumni Ventures
Mar 1, 2025	GrubMarket	$50.0M Series G	—	AME Cloud Ventures, BITKRAFT Ventures, Brkfst Club, Kevin Ding, FJ Labs, Goodwater Capital, Great Oaks Venture Capital, Hardware Club, Jigsaw VC, KRM Interests LLC, Hans Tung, Pegasus Tech Ventures, Primitive Ventures, Tiger Global Management, UpHonest Capital, Nimit Maru
Mar 1, 2025	Proscia	$50.0M Series D	—	Alumni Ventures, Day One Ventures, Aniq Kassam, Hummingbird Ventures, Indicator Ventures, Insight Partners, Pareto Holdings, TSVC Capital, Valhalla Ventures, What If Ventures, Bradley Horowitz, Matt Mickiewicz
Feb 1, 2025	SAIF Autonomy	$1.0M Seed	—	Bessemer Venture Partners, James Hardiman, Jinlin Wang, Michael Jin, Xuhui Shao, FreeSky Capital, Insight Partners, Scale Asia Ventures
Jan 1, 2025	Netradyne	$90.0M Series D	—	Point72 Ventures
Dec 1, 2024	ISSEN	$500K Seed	—	Acrew Capital, BoxGroup, Homebrew, Kindred Ventures, Lightspeed Venture Partners, Liquid 2 Ventures, Signum Capital, Wilshire Lane Capital, Wonder Ventures, Y Combinator, Douglas Carlisle, Karine Hsu, Michael Ma, Stelian Balta
Nov 1, 2024	Wordware	$30.0M Seed	—	10100, 6th Man Ventures, Acton Capital Partners, Adjacent, Albion VC, Alumni Ventures, Amplify Partners, Angel investor, Atomico, Audrey Capital, Blossom Capital, BlueRun Ventures, Broadway Angels, Chalfen Ventures, Climate Capital, Color Capital, Cool Climate Collective, Craft Ventures, Day One Ventures, Decibel Partners, Divergent Capital, DocuSign, Double Down, DST Global, Embedded Ventures, Emergence Capital, Essence VC, Aniq Kassam, Felicis Ventures, Felix Capital, FirstMark Capital, Flexcap, Flex Capital, Flybridge Capital Partners, Friends & Family Capital, Frontline Ventures, Ganas Ventures, General Catalyst, Global Founders Capital, Gradient Ventures, Great Oaks Venture Capital, Greenoaks Capital, Hummingbird Ventures, ICONIQ Capital, Indicator Ventures, Insight Partners, IVP, Kohala Ventures, La Famiglia, Lakestar, Lightspeed Venture Partners, Listen, Lockheed Martin Ventures, Matrix, Menlo Ventures, Meritech Capital Partners, Moxxie Ventures, Jonathan Golden, OpenCapital.vc, Openspace Ventures, Otherwise Fund, Paradigm, Paradox Capital, Partners Resolute, Pioneer Fund, Polymath Capital Partners, Prototype Capital, Radical Ventures, Red Beard Ventures, Runa Capital, Scribble Ventures, Seed Club Ventures, Seven Seven Six, Sherpalo Ventures, Shrug Capital, Spark Capital, Summit Partners, SV Angel, Web Smith, Techstars, The Hit Forge, Theory Forge Ventures, Todd and Rahul's Angel Fund, Trammell Venture Partners, Treble Capital, Tribe Capital, Unlock Venture Partners, Untapped Capital, Valhalla Ventures, Vibe Capital, Y Combinator, Adam D'Angelo, Alex Pattis, Amjad Masad, Andrew Gazdecki, Andrew Gluck, Andrew Steinwold, Azeem Azhar, Balaji Srinivasan, Ben Lang, Ben Tossell, Bob Young, Casey Neistat, David Peterson, Dharmesh Shah, Doug Monro, Elad Gil, Eric Ries, Gina Bianchini, Girish Mathrubootham, Gokul Rajaram, Jaime Schmidt, James Isilay, James Meekings, Jean Charles Samuelian, Jeff Hammerbacher, Jen Rubio Butterfield, Julia DeWahl, Kevin Stumpf, Kevin Weil, Kulveer Taggar, Kyle Vogt, Ligaya Tichy, Mark Chou, Mark Pincus, Mathilde Collin, Matt Mickiewicz, Moshe Lifschitz, Nkechi Iregbulem, Noah Sidman-Gale, Paul Graham, Paul Stahura, Peter Hunn, Peter Kazanjy, Ran Makavy, Sahin Boydas, Sam Corcos, Scott Belsky, Sergei Anikin, Sherry Coutu, Siqi Chen, Spencer Kimball, Stephen Cole, Thijn Lamers, Tim Ferriss, Tony Jamous, Vishal Rao, Will Brooks, Will Martin, Yann LeCun, Zachary Sims, Zach Segal
Oct 1, 2024	Reality Defender	$33.0M Series A	—	DCVC (Data Collective), Illuminate Financial Management, Jump Crypto, New North Ventures, Team8, Austin Ogilvie, Sohila Zadran
Sep 1, 2024	Benchify	$500K Seed	—	Bessemer Venture Partners, James Hardiman, Jinlin Wang, Michael Jin, Xuhui Shao, FreeSky Capital, Insight Partners, Scale Asia Ventures, Y Combinator
Aug 1, 2024	Butlr	$38.0M Series B	—	20VC, Accomplice VC, Alabaster, Blockchain Capital, Buckley Ventures, Matt Ocko, DX Ventures, Family Office, Founder Collective, Foundry Group, Gradient Ventures, Haun Ventures, Hemi Ventures, KAAN Ventures, Oak HC/FT, Overtly Covert, Pantera Capital, Pareto Holdings, Pioneer Fund, Polychain Capital, Primetime Partners, Robot Ventures, Scale Asia Ventures, SOSV, Stata Venture Partners, Summit Partners, Tiger Global Management, Winklevoss Capital, Aymerik Renard, Cameron Teitelman, David Hoffman, Joi Ito, Paul Veugen, Peter Bell, PhD, Rain Cui, PhD, MBA, Scott Belsky, Stani Kulechov
Aug 1, 2024	Starpath Robotics	$12.0M Seed	—	Dawn Capital, Day One Ventures, f7 Ventures, Friends & Family Capital, Gaingels, Hummingbird Ventures, Indicator Ventures, Insight Partners, Original Capital, Pareto Holdings, Point72 Ventures, Polygon, Soma Capital, UpHonest Capital, Valhalla Ventures, Vast Ventures, Brad Garlinghouse, Gokul Rajaram, Jonathan Wasserstrum, Matt Mickiewicz, Nitay Joffe, Paul Holland, Yahya Mokhtarzada
Jul 1, 2024	Monto	$9.0M Seed	—	Flybridge, Insight Partners, MizMaa Ventures, Scale Venture Partners
May 1, 2024	cside	$2.0M Seed	—	20VC, Accel, Benhamou Global Ventures, DNX Ventures, Exponent Founders Capital, iNovia Capital, Lego Ventures, Mantis VC, Mohr Davidow Ventures, Not Boring Capital, Otherwise Fund, Partech Ventures, Pelion Venture Partners, Redpoint Ventures, Zain Rizavi, Ridge Ventures, Scheinman Angel Fund, Scribble Ventures, TQ Ventures, Uncork Capital, Annelies Gamble, Ariel Maislos, Chris Cooper, Jeremy Cai, Karim Atiyeh, Kevin Weil, Lior Shiff, Mario Gabriele, Mario Götze, Riccardo Zacconi, Ron Pragides, Scott Belsky, Sohail Prasad, Yair Weinberger
May 1, 2024	Niobium Microsystems	$6.0M Seed	—	—
May 1, 2024	Subtle Medical	$10.0M Series B	—	Altalurra Ventures, Caixa Capital, Next Level Ventures, Scale Asia Ventures
Apr 1, 2024	Noda	$13.0M Series B	—	A/O PropTech, BoxOne Ventures, EQT Ventures, FinTech Collective, Heartcore Capital, ICONIQ Capital, Merck Global Health Innovation Fund, Northzone, The Venture Collective (TVC)
Mar 1, 2024	Observe	$150.0M Series B	—	1984 Ventures, Alumni Ventures, Cisco Investments, Congruent Ventures, Ali Tamaseb, Giant Ventures, Initialized Capital, Madrona Ventures, Snowflake Ventures, SNR, Sutter Hill Ventures, Touchdown Ventures, Michael Dell, Oded Hermoni, Oleg Rogynskyy
Mar 1, 2024	Blockus	$4.0M Seed	—	Acrew Capital, Andreessen Horowitz, BoxGroup, Homebrew, iNovia Capital, Jude Gomila Rolling Fund, Kindred Ventures, Lightspeed Venture Partners, Liquid 2 Ventures, Northside Ventures, Signum Capital, Weekend Fund, Wilshire Lane Capital, Wonder Ventures, Y Combinator, Douglas Carlisle, Ed Baker, Karine Hsu, Stelian Balta

Financial History

Total Raised

N/A

Valuation

N/A

Leadership Team

Key people at Fusion Fund.

Leadership Team

Key people at Fusion Fund.

Deep Dive

Fusion Fund is an early-stage venture capital firm that invests in startups leveraging technological and data advantages, primarily in industrial, enterprise, and healthcare sectors. Their mission is to back technically driven entrepreneurs building globally disruptive companies with strong technical barriers and advantages, focusing on areas like connected industry, AI, and health technology. Fusion Fund supports founders through capital, expertise, and a broad network, aiming to accelerate innovation and systemic change in established and emerging markets[1][2][5].

Founded in 2015 by Lu Zhang, Fusion Fund has evolved by consistently targeting startups at the intersection of technology and data, particularly in healthcare, enterprise AI, and industrial automation. The firm has raised multiple funds, including a $190 million Fund IV in 2025, underscoring its growth and commitment to shaping the future of technology. Fusion Fund’s portfolio companies include innovators like You.com and Paradromics, which address complex problems such as AI-powered search and brain-computer interfaces, demonstrating strong growth momentum and industry impact[3][5].

Core Differentiators

Unique Investment Model: Fusion Fund focuses on early-stage investments (Pre-Seed to Series A) in startups with technical or data-driven moats, emphasizing foundational innovation and systemic impact[1][3].
Network Strength: The firm leverages a proprietary Fusion Super Founder Network of serial entrepreneurs and a CXO Network of 44 C-level executives from Global 1000 companies, providing portfolio companies with valuable insights, partnerships, and customer connections[3][5].
Track Record: Over a decade, Fusion Fund has built a strong portfolio with companies achieving significant funding rounds and industry recognition, such as You.com’s $50M Series B and Paradromics’ FDA-approaching brain implant technology[3][5].
Operating Support: Beyond capital, Fusion Fund offers market analysis, diligence support, and hands-on assistance from former technical operators who understand startup challenges[2][5].

Role in the Broader Tech Landscape

Fusion Fund rides the wave of rapid digital transformation across healthcare, enterprise AI, and industrial automation. The timing is critical as industries demand scalable, efficient, and intelligent solutions powered by AI and data. By focusing on startups with deep technical expertise and data advantages, Fusion Fund influences the broader ecosystem by accelerating innovation in foundational technologies that underpin the next generation of industrial and healthcare advancements[1][3][6].

Quick Take & Future Outlook

Looking ahead, Fusion Fund is poised to continue expanding its influence by investing in frontier technologies that address complex industry challenges. Trends such as AI integration, automation, and healthcare digitization will shape their portfolio’s trajectory. With its strong network, research-driven sourcing, and operational expertise, Fusion Fund is likely to remain a key catalyst for early-stage innovation, helping founders build transformative companies that redefine their sectors[3][5].

In summary, Fusion Fund’s strategic focus on technical and data-driven startups in industrial, enterprise, and healthcare domains positions it as a vital player in fostering the next wave of technological breakthroughs.

Sources

Core Differentiators

Unique Investment Model: Fusion Fund focuses on early-stage investments (Pre-Seed to Series A) in startups with technical or data-driven moats, emphasizing foundational innovation and systemic impact[1][3].
Network Strength: The firm leverages a proprietary Fusion Super Founder Network of serial entrepreneurs and a CXO Network of 44 C-level executives from Global 1000 companies, providing portfolio companies with valuable insights, partnerships, and customer connections[3][5].
Track Record: Over a decade, Fusion Fund has built a strong portfolio with companies achieving significant funding rounds and industry recognition, such as You.com’s $50M Series B and Paradromics’ FDA-approaching brain implant technology[3][5].
Operating Support: Beyond capital, Fusion Fund offers market analysis, diligence support, and hands-on assistance from former technical operators who understand startup challenges[2][5].