USA – Fusion Fund, a Palo Alto, CA-based venture capital firm, closed its third fund, at $120m.
Fusion Fund III will support technical, data-driven founders aiming to build transformative and lasting businesses in healthcare, enterprise AI, and industrial automation. Led by Lu Zhang, founder and managing partner, Fusion Fund backs early-stage entrepreneurs developing forward-thinking companies with technical and data advantages in their business models, with companies like Otter.ai, Mojo Vision, Mission Bio, EdgeQ, and Macrometa in its portfolio.The firm was founded in 2015 after Zhang sold her own medical technology company that utilized thin-film sensors for highly sensitive diabetes detection. After building an angel investment portfolio with several large M&A and IPO exits, she started the firm to continue supporting technical founders, many of whom come from immigrant and diverse backgrounds.Since then, Zhang has built a team of former technical entrepreneurs, operators, executives, and investors, including: Homan Yuen, partner; Shane Wall, president of CXO Network and investment partner; Trevor Mottl, venture partner; and Ivneet Bhullar, principal.02/08/2022
