Fusion Fund Announces Fusion Fund III to Support Early-Stage Technical Founders
Lu Zhang, founder and managing partner, leads her team in closing $120 million in Fusion Fund III to invest in deep tech founders leveraging technology and data to build transformational businesses in healthcare, enterprise AI, and industrial automation.
PALO ALTO, Calif., Aug. 2, 2022 /PRNewswire/ -- With $120 million in committed capital, Fusion Fund has announced the closing of Fusion Fund III. Funds will be used to support technical, data-driven founders aiming to build transformative and lasting businesses in healthcare, enterprise AI, and industrial automation. 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 growing portfolio.
"I believe the best way to help technically driven founders is to have lived that journey and have hands-on experience working in those specific sectors," explains Lu Zhang, founder and managing partner of Fusion Fund.
As an immigrant woman, Zhang understands the specific challenges many entrepreneurs face in technical industries. Fusion Fund was founded in 2015 after Zhang successfully sold her own medical technology company that utilized thin-film sensors for highly sensitive diabetes detection. After building a successful angel investment portfolio with several large M&A and IPO exits, she started the Fusion Fund to continue supporting technical founders, many of whom come from immigrant and diverse backgrounds.
Since then, Zhang has built a well-rounded and impactful 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.
As the former CTO of Hewlett Packard, a member of the White House National Science and Technology Council, and a founding member of Intel Capital, Wall brings a deep corporate, technical, and operating background to the Fusion Fund portfolio. Mottl has been a leader in the institutional finance sector for more than 20 years, and his vast experience in bringing innovative technologies to large enterprises provides valuable insights to the portfolio. Bhullar was previously senior manager at Amgen's Digital Health & Innovation group, leading key strategy and B&D efforts. With an MBA from Harvard Business School and degrees in biomedical engineering from UCLA and UCSD, he brings extensive operational and technical healthcare experience. Together, the Fusion Fund team continues to support entrepreneurs with their vast knowledge, expertise, and network.
"While the financial and political situation around the world has brought about market uncertainty, the team at Fusion Fund believes that truly fundamental and transformative companies are constantly being created," explains Zhang. "We believe this is even more true during times of extreme volatility and disruption. We continue to identify, invest in, and support strong entrepreneurial talent who are looking to use technology to make the world a better place."
You can read more about Fusion Fund III and Lu Zhang's ongoing commitment to developing deep tech and healthcare here.
About Fusion Fund:
Fusion Fund is a venture capital firm in Palo Alto, Calif., that focuses on backing early-stage entrepreneurs in building forward-thinking companies with technical and data advantages in their business models. Fusion Fund supports businesses in the industrial, enterprise, and healthcare application sectors with a diverse team of partners and real-world experience.
For more information, please contact [email protected].
Contact: Chelsea McKee, Influence & Co.
Phone: (573) 999-0794 Ext. 725
Email: [email protected]
SOURCE Fusion Fund
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