Fusion Fund

Fusion Fund was founded in 2015 by Lu Zhang and is now in its tenth year, with Fund IV at $190m closed oversubscribed in under six months. Total AUM exceeds $500m. The Palo Alto firm backs technical founders in healthcare, enterprise AI and industrial technology and automation, investing pre-seed through Series A across the US and Canada. The 104-company portfolio includes three unicorns and generates $2.5bn-plus in collective revenue. Holdings include Paradromics, Element Biosciences, Proscia and EdgeQ.