Brief
Published:
Venture capital firm A* announced Tuesday a Fund III of $450 million. The company takes a generalist approach and supports businesses in categories such as AI applications, fintech, and health and safety.
The average check size for this fund will be between $3 million and $5 million, with a goal of supporting at least 30 startups. The capital will be deployed over the next two to three years, similar to the company’s previous funds. Sponsors include nonprofit organizations, foundations and endowments; Carnegie Mellon University is among the publicly named funders.
A*, founded in 2020 and led by Kevin Hartz and Bennett Siegel, has already raised a Fund II of $315 million in 2024 and a $300 million Fund I in 2021. Hartz is a serial entrepreneur best known for co-founding as a partner at Coatue Management.
The company has also drawn attention for backing unusually young founders, although the practice has since become more common. Hartz told TechCrunch last fall that nearly 20% of the company’s current portfolio involves teen entrepreneurs. Among other investments, she backed fintech company Ramp and AI company Mercor.
This story has been updated to clarify the company name.
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