Kevin Hartz’s A* exact kind closed its third fund with $450 million

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Early-stage enterprise agency A* on Tuesday announced a $450 million Fund III. The agency takes a generalist means, backing corporations at some level of categories including AI capabilities, fintech, healthcare, and security.
The frequent check dimension for this fund will be between $3 million and $5 million, as a plan to help no longer less than 30 startups. The capital will be deployed over the following two to three years, as with the agency’s previous funds. Restricted partners encompass nonprofits, foundations, and endowments; Carnegie Mellon University is amongst the publicly named backers.

A*, founded in 2020 and gallop by Kevin Hartz and Bennet Siegel, beforehand raised a $315 million Fund II in 2024 and a $300 million Fund I in 2021. Hartz is a serial entrepreneur simplest known for co-founding Xoom, the realm money-switch carrier PayPal later bought for $1.1 billion in 2015, and Eventbrite, the match-ticketing platform that went public in 2018. Siegel came up thru Boston Consulting Crew and Altamont Capital Partners before spending four years as a accomplice at Coatue Management.

The agency has moreover drawn attention for backing strangely young founders, whilst the note has change into more overall since. Hartz told TechCrunch closing drop that conclude to twenty% of the agency’s present portfolio involve teenage entrepreneurs. Among others of its investments, it has backed the fintech firm Ramp and the AI agency Mercor.

This memoir became once up to this level to account for the title of the agency.

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