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Venture Capital
fusionfund.com

Investments

85

Portfolio Exits

6

Funds

5

About Fusion Fund

Fusion Fund, formerly NewGen Capital, is an early-stage venture capital firm supporting entrepreneurs who build globally disruptive, platform technologies and business models with potential to drive systemic change.

Headquarters Location

624 University Avenue

Palo Alto, California, 94301,

United States

650-391-6271

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Latest Fusion Fund News

Fusion Fund Continues Focus on Deep Tech and Healthcare with a Third $120 Million Fund

Dec 15, 2022

Palo Alto, California--(Newsfile Corp. - December 15, 2022) - Early-stage venture capital investments firm, Fusion Fund, announces prioritized focus on deep tech and healthcare start-ups through its most recent funding commitment. Fusion Fund III represents an oversubscribed $120 million to invest in seed and early-stage startups across the United States and Canada. (Fusion Fund's team from left to right. Shane Wall, Trevor Mottl, Homan Yuen, Lu Zhang, Ivneet Bhullar, Ryan JB Taylor, and Auguste Fagniez. view an enhanced version of this graphic, please visit: Founded by Lu Zhang in 2015, the fund enables data-driven entrepreneurs to build transformative businesses in healthcare, enterprise AI, and industrial automation. Zhang sees opportunities for AI in growing industries. "We are excited about the role that AI can play in solving some of the world's toughest problems, including, for example, powering clinical mental health applications," she says, referring to technology that enables early diagnosis and personalized treatment of anxiety, depression, dementia, Alzheimer's disease, and more. Another key area of interest for Fusion Fund is edge computing, computing that occurs close to a source of data. "Traditional industries like logistics and manufacturing are increasingly looking to edge computing as a way to become more efficient, have lower data latency, and reduce cloud computing spend," Zhang explains. The fund also aims to catalyze digital transformation in large corporations by funding technology like No-code AI, which allows enterprises to easily harness the potential of AI to drive greater automation and efficiencies. Despite the challenges of today's economy, Zhang and her team remain bullish about the opportunities in deep tech and healthcare. "We have invested in more than 10 companies with Fund III so far, many of which have seen additional investor interest and valuation increases as a result of their growing revenues," Zhang explains. With six successful M&A exits over the past 18 months, several breakout companies in its portfolio valued over a billion dollars, and a ranking in the top decile in investment performance, there are many reasons to keep an eye on what projects Fusion Fund III funds next. ###

Fusion Fund Investments

85 Investments

Fusion Fund has made 85 investments. Their latest investment was in Mojo Vision as part of their Series D on April 4, 2023.

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Fusion Fund Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/5/2023

Series D

Mojo Vision

$22.4M

No

5

4/4/2023

Seed VC

Nimble Science

$2.01M

Yes

1

11/1/2022

Seed VC

Volur

$3.02M

Yes

1

10/26/2022

Unattributed VC - II

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$99M

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10

5/2/2022

Series B

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$99M

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10

Date

4/5/2023

4/4/2023

11/1/2022

10/26/2022

5/2/2022

Round

Series D

Seed VC

Seed VC

Unattributed VC - II

Series B

Company

Mojo Vision

Nimble Science

Volur

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Amount

$22.4M

$2.01M

$3.02M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

5

1

1

10

10

Fusion Fund Portfolio Exits

6 Portfolio Exits

Fusion Fund has 6 portfolio exits. Their latest portfolio exit was Popular Pays on March 23, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

3/23/2022

Acquired

$99M

1

2/15/2022

Acquired

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$99M

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10

2/8/2022

Acquired

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$99M

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10

10/28/2021

Acquired

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$99M

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10

8/24/2021

Acquired

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$99M

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10

Date

3/23/2022

2/15/2022

2/8/2022

10/28/2021

8/24/2021

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

10

10

10

10

Fusion Fund Fund History

5 Fund Histories

Fusion Fund has 5 funds, including Fusion Fund III.

Closing Date

Fund

Fund Type

Status

Amount

Sources

8/2/2022

Fusion Fund III

$120M

2

2/19/2016

NewGen Silicon Valley Fund

$99M

10

NewGen Capital II

10

Fusion Fund

10

Fusion Artesian Fund I

10

Closing Date

8/2/2022

2/19/2016

Fund

Fusion Fund III

NewGen Silicon Valley Fund

NewGen Capital II

Fusion Fund

Fusion Artesian Fund I

Fund Type

Status

Amount

$120M

$99M

Sources

2

10

10

10

10

Fusion Fund Team

3 Team Members

Fusion Fund has 3 team members, including current Founder, Managing Partner, Lu Zhang.

Name

Work History

Title

Status

Lu Zhang

Founder, Managing Partner

Current

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Name

Lu Zhang

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Work History

Title

Founder, Managing Partner

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Status

Current

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