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

On Tuesday, startup A* Capital announced… The third fund is worth $450 million. The company takes a generic approach, supporting companies across categories including AI applications, fintech, healthcare and security.
The average check size for this fund will be between $3 million and $5 million, with the goal of supporting at least 30 startups. The capital will be distributed over the next two or three years, as is the case with the company’s previous funds. Limited partners include non-profit organizations, foundations and endowments; Carnegie Mellon University is among the announced supporters.

A* Capital, founded in 2020 and managed by Kevin Hartz and Bennett Siegel, previously raised A The second fund is worth $315 million in 2024 and the first $300 million fund in 2021. Hartz is a serial entrepreneur best known for co-founding Xoom, an international money transfer service that PayPal later acquired for $1.1 billion in 2015, and Eventbrite, an event ticketing platform that went public in 2018.

The company also drew attention for unusually supporting young founders, even though the practice has since become more common. hartz He told TechCrunch last fall Nearly 20% of the company’s current portfolio includes teen entrepreneurs. Among its other investments, it has backed fintech company Ramp and artificial intelligence company Mercor.