- Fusion Fund was founded in 2015
- Lu Zhang is the founder and managing partner
- Investments include EdgeQ, Otter.ai, Mojo Vision and Macrometa
Palo Alto, California-based venture firm Fusion Fund has closed its third fund at $120 million. The fund will be used to back technical, data-driven founders aiming to build transformative and lasting businesses in healthcare, enterprise AI, and industrial automation.
The deep tech investor previously raised $85 million for vintage 2017 Fusion Fund II and $17 million for vintage-2015 Fusion Fund I, according to PitchBook.
Fusion Fund’s investments include Otter.ai, Mojo Vision, Mission Bio, EdgeQ, and Macrometa.
“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,” Lu Zhang, founder and managing partner of Fusion Fund, said in a statement.
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.
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.
Wall is the former CTO of Hewlett Packard, a member of the White House National Science and Technology Council, and a founding member of Intel Capital. Mottl has been a leader in the institutional finance sector for more than 20 years. And, Bhullar was previously senior manager at Amgen’s Digital Health & Innovation group.