DFX Intelligence
Venture Capital Intelligence
Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.
Firms / Fuse
Fuse
FUSE is a Seattle-based venture capital firm that invests $1-10M in early-stage technology companies.
corporate parent: Brighton
Importance
30
moderate
Active deployment
25
moderate
Emerging
0
low
Completeness
69
high
Freshness
100
high
Research priority
11
low
Identity and regulatory footprint
- Headquarters
- Bellevue, WAadviserinfo.sec.gov
- Office address
- 11100 NE 8TH ST, SUITE 200, Bellevue, WA, 98004adviserinfo.sec.gov
- Business phone
- 425-709-0772adviserinfo.sec.gov
- Website
- https://fuse.vc/
- SEC adviser type
- exempt reporting adviseradviserinfo.sec.gov
- SEC exemption claimed
- venture capital fund adviseradviserinfo.sec.govItem 2.B(1): advises solely venture capital funds
- Latest Form ADV
- Mar 30, 2026
- Private funds reported
- 7 (7 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $464Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Parent company
- BrightonFactfuse.vc
- Owners on Schedule A
- KC 1986 Inc. (Member), C; BW Mgmt Inc. (Member), C; CB Advisory Inc. (Member), C
- business email
- brooke@fuse.vcfuse.vcpublished by the subject
- business email
- cb@fuse.vcfuse.vcpublished by the subject
- business email
- info@fuse.vcfuse.vcpublished by the subject
- business email
- carmen@fuse.vcfuse.vcpublished by the subject
- business email
- brendan@fuse.vcfuse.vcpublished by the subject
- business email
- emily@fuse.vcfuse.vcpublished by the subject
- business phone
- 425-709-0772adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
no observed deals yet
Stated (the firm’s website)
- Sectors
- ai, enterprise software, fintech, healthcare, marketplaces, hardware, robotics, space, cybersecurity, logistics, industrial, media
- Stages
- early
- Geography
- worldwide
- Check size
- not stated; DFX does not estimate checks from round sizes
- Self-described
- corporate venture
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors: no observed deals yet
lead rate n/afollow-on rate n/anew logos, 12 months 0
Funds and vehicles
9 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| IFC, LLC | Fund | 2024 form d first sale | Newly closed | unknown | unknown | $2.9M of $2.9M | Oct 15, 2024 |
| Fuse Venture Partners Alpha II, LP | Fund | 2023 adv first reported | Active deployment | $234M Mar 28, 2024 | 348 | $0 of $250M | Jul 18, 2022 |
| Fuse Venture Partners II, LP | Fund | 2023 adv first reported | Active deployment | $13.9M Mar 28, 2024 | 46 | $0 of $250M | Jul 18, 2022 |
| Fuse Zuper I, LLC | Fund | 2023 form d first sale | Active deployment | $10.1M Mar 28, 2024 | 31 | $9.1M of $10.6M | Dec 14, 2023 |
| Fuse Owl I, LLC | Fund | 2021 form d first sale | Mature | $3.6M Mar 28, 2024 | 14 | $3.6M of $3.6M | Sep 24, 2021 |
| Fuse Venture Partners Alpha I, LP | Fund | 2020 form d first sale | Mature | $153M Mar 28, 2024 | 251 | $160M of $160M | Jan 25, 2022 |
| Fuse Venture Partners I, LP | Fund | 2020 form d first sale | Mature | $12.9M Mar 28, 2024 | 55 | $13.5M of $13.5M | Jan 25, 2022 |
| Fuse Venture Partners III, LP | Fund | unknown | Fundraising | unknown | unknown | $0 | Apr 22, 2026 |
| Fuse Venture Partners Alpha III, LP | Fund | unknown | Fundraising | unknown | unknown | $0 | Apr 22, 2026 |
GAV is the gross asset value the adviser reported on Form ADV for the vehicle, never the fund’s committed size and never dry powder. Form D sold is the amount sold as of the latest filing, never a final close.
Investment team
4 current, 0 departed
Brendan Michael Wales
PartnerManaging Director / Stockholder · since Apr 1, 2023
Cameron Borumand
PartnerManaging Director / Stockholder · since Apr 1, 2023
Kellan Robert Carter
PartnerManaging Director / Stockholder · since Apr 1, 2023
Ryan Kendall Baker
Platform and operationsCfo · since Mar 1, 2021
Investments on record
0 edges, 0 companies, 0 partner-attributed
No investment on record yet. Edges arrive from the firm’s portfolio page, financing announcements, and Form D board seats.
Co-investors
0 relationships from shared deals, counted for the whole firm
No co-investor relationship yet: these are derived only from rounds and portfolio listings the graph has seen both investors on.
Limited partners
0 disclosed
No LP commitment on record. An LP edge needs a public disclosure with a quote: a pension report (see Limited partners for the plans read), a fund announcement naming the LP, or a Form ADV owner. The fund page carries the LP’s reported performance.
Timeline
10 dated events
- Sep 15, 2026Fuse: INSTITUTIONAL_VC -> CORPORATE_VENTURE (corporate parent: Brighton)Classification changedClassificationInferenceno URL
- Mar 28, 2024Fuse Zuper I, LLC first reported on Form ADV by Fuse (Venture Capital Fund), GAV $10,100,000Fund first reported on Form ADVFundsFactFuse Zuper I, LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2023Fuse Venture Partners II, LP first reported on Form ADV by Fuse (Venture Capital Fund), GAV $5,500,000Fund first reported on Form ADVFundsFactFuse Venture Partners II, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2023Fuse Venture Partners Alpha II, LP first reported on Form ADV by Fuse (Venture Capital Fund), GAV $152,830,000Fund first reported on Form ADVFundsFactFuse Venture Partners Alpha II, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 27, 2022Fuse Owl I, LLC first reported on Form ADV by Fuse (Venture Capital Fund), GAV $3,630,000Fund first reported on Form ADVFundsFactFuse Owl I, LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2021Fuse Ventures Management first filed Form ADV (ERA, venture capital fund adviser exemption)First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2021Fuse Venture Partners Alpha I, LP first reported on Form ADV by Fuse Ventures Management (Venture Capital Fund), GAV $87,420,000Fund first reported on Form ADVFundsFactFuse Venture Partners Alpha I, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2021Fuse Venture Partners I, LP first reported on Form ADV by Fuse Ventures Management (Venture Capital Fund), GAV $9,790,000Fund first reported on Form ADVFundsFactFuse Venture Partners I, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 1, 2021Ryan Kendall Baker joined Schedule A of Fuse as Cfo
- Feb 1, 2021Brendan Michael Wales joined Schedule A of Fuse as Member/Manager
Classification history
- Sep 15, 2026Corporate venture (confirmed, 95%, cls-1)corporate parent: Brighton
- Sep 12, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $427M across 9 vehicles
- Sep 12, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $427M across 6 vehicles
Evidence
45 observations from 3 sources