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FUSE is a venture capital organization founded in 2020 by Kellan Carter, Cameron Borumand, and Brendan Wales. Based in the United States, FUSE focuses on supporting early-stage startups across various sectors, including artificial intelligence and satellite infrastructure. The firm has established itself as a key player in the Pacific Northwest startup ecosystem.
FUSE has successfully raised over $420 million in committed capital across two funds. The inaugural fund, Fund I, raised $170 million, while Fund II, which closed in September 2023, was oversubscribed at $250 million. The firm currently manages a portfolio of over 31 companies, demonstrating its active engagement in the early-stage investment landscape.
FUSE's strategic limited partner base includes current and former executives from major corporations such as Microsoft, Amazon, Nike, Starbucks, Costco, T-Mobile, Avalara, DocuSign, Smartsheet, and Icertis. This diverse LP base enhances FUSE's ability to provide valuable insights and connections to its portfolio companies.
FUSE invests primarily in early-stage companies, targeting sectors such as artificial intelligence, software, space technology, healthcare, logistics, cybersecurity, commerce, and fintech. The firm focuses on Seed and Series A stages, typically leading rounds with check sizes ranging from $1 million to $10 million. FUSE emphasizes the importance of strategic guidance and operational expertise, aiming to help founders effectively scale their businesses.
The firm is particularly interested in startups that improve business processes through software and AI applications. FUSE's investment strategy includes a strong focus on vertical software and machine learning applications, reflecting its commitment to backing innovative technologies that can drive significant impact in their respective industries.
Geographically, FUSE concentrates on the Pacific Northwest, including Seattle and broader regions of western Canada. This regional focus allows the firm to leverage its local knowledge and connections to support startups in the area.
FUSE has built a diverse portfolio that spans various industries, including healthcare, logistics, cybersecurity, and e-commerce. Notable investments include:
In total, FUSE has invested in over 31 startups, with a strong emphasis on AI-driven healthcare solutions, satellite infrastructure, workflow automation, identity management, and fintech. The firm actively seeks out companies that demonstrate innovative approaches to solving complex problems within their sectors.
Kellan Carter - Founding Partner. Kellan has a background in venture capital and has led numerous successful investments in technology startups. He holds a degree from a prestigious university and has extensive experience in the tech industry.
Cameron Borumand - Founding Partner. Cameron brings a wealth of experience in software and AI investments, having previously worked with leading tech firms. His expertise lies in identifying high-potential startups and guiding them through early growth stages.
Brendan Wales - Founding Partner. Brendan has a strong background in operational roles within startups and has a keen eye for innovative business models. He is instrumental in providing strategic guidance to portfolio companies.
Zane Khatib - Principal. Zane focuses on sourcing and evaluating new investment opportunities, leveraging his analytical skills and industry knowledge.
Brooke Borseth - Senior Associate. Brooke supports the investment team in due diligence and portfolio management, contributing to the firm's operational support for founders.
Emily Harrison - Platform Lead. Emily is responsible for enhancing the firm's value-add to portfolio companies, ensuring they receive the necessary resources and support for growth.
To pitch to FUSE, founders should visit their website at fuse.vc. The firm prefers detailed pitch decks that outline the business model, market opportunity, and team qualifications. While FUSE does not specify a formal application form, they encourage thorough presentations that clearly convey the startup's vision and potential.
Response times may vary, but founders can expect to hear back within a few weeks after submission. Warm introductions are preferred, as they can facilitate a more favorable review process.
In September 2023, FUSE closed its second fund, Fund II, at $250 million, which was oversubscribed. This significant milestone reflects the firm's strong position in the venture capital landscape and its commitment to investing in Pacific Northwest startups.
FUSE has been actively deploying capital across Seed and Series A deals, with over 31 companies in its portfolio to date. The firm continues to focus on sectors such as AI, software, and healthcare, aligning with its investment thesis.
Recent coverage in TechCrunch and GeekWire highlights FUSE's role in the Pacific Northwest tech ecosystem, showcasing its investments and the impact of its strategic LP base.
What are FUSE's investment criteria?
FUSE invests in early-stage companies across sectors such as AI, software, healthcare, and fintech. The firm focuses on Seed and Series A stages, typically leading rounds with check sizes between $1 million and $10 million.
How can I apply or pitch to FUSE?
Founders can pitch to FUSE by visiting their website at fuse.vc. The firm encourages startups to provide detailed information about their business model, market opportunity, and team in their pitch decks.
What makes FUSE different from other venture capital firms?
FUSE differentiates itself through its strategic LP base, which includes executives from major companies like Microsoft and Amazon. This network provides portfolio companies with valuable insights and connections that can aid in their growth.
What is FUSE's geographic focus?
The firm primarily invests in the Pacific Northwest, including Seattle and western Canada, allowing it to leverage local market knowledge and relationships.
What level of post-investment involvement does FUSE have?
FUSE emphasizes strategic guidance and operational expertise, actively working with founders to help them scale their businesses effectively. This includes mentorship and access to their extensive network.
What is the size of FUSE's funds?
FUSE has raised over $420 million across two funds, with Fund I totaling $170 million and Fund II closing at $250 million in September 2023.
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