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

In Brief

Early-stage task steadfast A* Capital connected Tuesday announced a $450 cardinal Fund III. The steadfast takes a generalist approach, backing companies crossed categories including AI applications, fintech, healthcare, and security.
The mean cheque size for this money volition beryllium betwixt $3 cardinal and $5 million, with the purpose to backmost astatine slightest 30 startups. The superior volition beryllium deployed implicit the adjacent 2 to 3 years, arsenic with the firm’s erstwhile funds. Limited partners see nonprofits, foundations, and endowments; Carnegie Mellon University is among the publically named backers.

A* Capital, founded successful 2020 and tally by Kevin Hartz and Bennet Siegel, antecedently raised a $315 cardinal Fund II in 2024 and a $300 cardinal Fund I successful 2021. Hartz is simply a serial entrepreneur champion known for co-founding Xoom, the planetary money-transfer work PayPal aboriginal acquired for $1.1 cardinal successful 2015, and Eventbrite, the event-ticketing level that went nationalist successful 2018.

The steadfast has besides drawn attraction for backing unusually young founders, adjacent arsenic the signifier has go much communal since. Hartz told TechCrunch past fall that adjacent to 20% of the firm’s existent portfolio impact teenage entrepreneurs. Among others of its investments, it has backed the fintech institution Ramp and the AI steadfast Mercor.

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