Fusion Fund is an early-stage venture capital firm based in Palo Alto, California, founded in 2015 by Managing Partner Lu Zhang. The firm invests in pre-seed, seed, and Series A startups leveraging technical or data advantages, with a focus on healthcare, enterprise AI, and industrial technology.
Deal activity decreased year-over-year (4 deals in the last 12 months vs 8 prior). Their most common stage is seed (45% of deals). Average disclosed round size is $19.6M (across 69 rounds with reported amounts).
Portfolio
62
Fund Size
$190M
Top Stage
Seed
Last 12 Mo
4
Team
Sanjeev Kumar
Venture Partner
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
80 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 CVector | Seed | $5M | Jan 2026 |
 AgileRL | Seed | $7.5M | Jan 2026 |
 Autonomous Technologies Group | Pre-Seed | $15M | Jan 2026 |
 Eridu AI | Unknown | $200M | Jan 2026 |
| NNo Barrier | Seed | $2.7M | Jan 2026 |
 Portal26 | Series A | $9M | Nov 2025 |
 Memoriesai | Seed | $8M | Jul 2025 |
 Rhino Federated Computing | Series A | $15M | May 2025 |
 Somite | Series A | $47M | May 2025 |
 Blumind | Series A | — | Apr 2025 |
 Reality Defender | Unknown | — | Apr 2025 |
 Proscia | Unknown | $50M | Mar 2025 |
 Palona | Seed | — | Jan 2025 |
 Memories.ai | Seed | $8M | Jan 2025 |
| Proscia | Unknown | $50M | Jan 2025 |
| Portal26 | Series A | $9M | Jan 2025 |
| Rhino Federated Computing | Unknown | $15M | Jan 2025 |
 Voyage AI | Series A | $20M | Oct 2024 |
 Starpath Robotics | Seed | $12M | Aug 2024 |
 Subtle Medical | Series B | $10M | Jul 2024 |
 Niobium | Seed | $5.5M | May 2024 |
 Loft | Series A | $24M | Apr 2024 |
 Nexusflow | Seed | $10.6M | Sep 2023 |
 Scout | Seed | — | Jun 2023 |
 Mojo Vision | Series A | $22.4M | Apr 2023 |
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Top Co-Investors
DNX Ventures7 shared
Khosla Ventures6 shared
Y Combinator5 shared
GGV Capital5 shared
Shasta Ventures5 shared
Gaingels4 shared
Susa Ventures4 shared
J-Ventures4 shared
Incubate Fund4 shared
Evolution Equity Partners4 shared
Bessemer Venture Partners3 shared
AMD Ventures3 shared
Stanford's StartX Fund3 shared
University Growth Fund3 shared
WI Harper Group3 shared
Digital Garage, Inc.3 shared
Plug and Play Tech Center3 shared
Samsung Next3 shared
Ohio Innovation Fund3 shared
New Enterprise Associates3 shared
Last updated: 7 October 2026