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Lu Zhang is Managing Partner at Fusion Fund, based in Palo Alto, CA, USA.
Lu Zhang is a Partner at Utility Ventures based in the San Francisco Bay Area, California. In this role, she oversees early-stage deep tech and climate tech investments for a firm managing over $100 million in assets. Prior to joining Utility Ventures in 2023, Zhang held investment positions at prominent venture capital firms including DCVC and Khosla Ventures. Her investment portfolio features frontier technology companies such as Commonwealth Fusion Systems and Quantum Systems, and she recently led a new climate materials transaction in the first quarter of 2025. She holds a Master of Science in Materials Science and Engineering from Stanford University, where she also spoke at a Graduate School of Business entrepreneurship event in March 2026. Zhang leverages her specialized academic training to identify and fund hardware and materials science innovations within the broader startup ecosystem.
