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.
Their most common stage is seed (45% of deals). Average disclosed round size is $19.8M (across 76 rounds with reported amounts).
Portfolio
65
Fund Size
$190M
Top Stage
Seed
Last 12 Mo
8
Team
Sanjeev Kumar
Venture Partner
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
87 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Altis Labs | Series A | $25M | Sep 2026 |
 Palona | Series A | $20M | Aug 2026 |
 Subtle Medical | Series C | $33M | Jun 2026 |
 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 |
 Niobium | Seed | $23M | Dec 2025 |
 Portal26 | Series A | $9M | Nov 2025 |
 Memoriesai | Seed | $8M | Jul 2025 |
 Rhino Federated Computing | Series A | $15M | May 2025 |
 Rhino | 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 |
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Top Co-Investors
Khosla Ventures7 shared
DNX Ventures7 shared
Shasta Ventures6 shared
Y Combinator5 shared
GGV Capital5 shared
Gaingels5 shared
Ohio Innovation Fund5 shared
DCVC4 shared
Susa Ventures4 shared
J-Ventures4 shared
Incubate Fund4 shared
Evolution Equity Partners4 shared
New Enterprise Associates4 shared
Dolby Family Ventures4 shared
Qiming Venture Partners USA4 shared
Bessemer Venture Partners3 shared
AMD Ventures3 shared
Stanford's StartX Fund3 shared
University Growth Fund3 shared
WI Harper Group3 shared
Last updated: 20 October 2026