Kevin Hartz's A* closes $450M third fund for early-stage investments
Original: Kevin Hartz’s A* just closed its third fund with $450M
Why This Matters
Demonstrates continued investor confidence in early-stage tech ventures amid market volatility
Early-stage venture firm A* announced closing its $450 million Fund III on Tuesday. The generalist firm, founded by Kevin Hartz and Bennett Siegel in 2020, will write $3-5 million checks to back at least 30 startups across AI, fintech, healthcare, and security sectors.
A*, the venture firm co-founded by serial entrepreneur Kevin Hartz, closed its third fund with $450 million in capital. The firm takes a generalist approach, investing across AI applications, fintech, healthcare, and security. Fund III will deploy capital over two to three years with average check sizes between $3-5 million, targeting at least 30 startups. Limited partners include nonprofits, foundations, endowments, and Carnegie Mellon University. Hartz previously co-founded Xoom, acquired by PayPal for $1.1 billion in 2015, and Eventbrite, which went public in 2018. The firm has gained attention for backing young founders, with nearly 20% of its portfolio involving teenage entrepreneurs. Previous funds included a $315 million Fund II in 2024 and $300 million Fund I in 2021. Portfolio companies include fintech firm Ramp and AI company Mercor.