Fusion92

Matt Murphy, the founder and CEO, leads all investment decisions. He transitioned the firm from its marketing-agency origins into a venture platform and remains the central decision-maker on fund allocations and studio launches. The firm has not publicly named a separate CIO or investment committee.

92Labs is Fusion92's venture studio — an in-house team that identifies market opportunities and co-founds companies from scratch, providing product design, engineering, and initial operating leadership. The venture fund then invests in these studio-born startups and also in external early-stage companies. The studio acts as a proprietary sourcing engine, giving the fund access to deal flow that does not compete in broad auctions.

No. While the 92Labs studio generates a portion of the portfolio, Fusion92's venture fund also invests in external startups as a lead or co-investor. The studio pipeline is a sourcing advantage, but the firm evaluates outside opportunities and has publicly backed companies including Truss and Zero Hash, which were not internally founded.

Fusion92 focuses on the earliest stages — pre-seed, seed, and Series A. The venture studio arm creates companies at the concept stage, while the fund typically enters at seed or Series A. The firm has not publicly disclosed late-stage or growth-equity activity.

Fusion92's Chicago headquarters and Hoffman Estates office position it outside the concentrated coastal venture markets. The firm's studio model allows it to originate companies internally, bypassing traditional deal-flow auctions. For external deals, the firm leverages its Midwest network and domain-specific relationships in enterprise software, fintech, and digital health.