Early-stage venture firm A* Capital announced Tuesday $450 million Fund III. The company takes a generalist approach, supporting companies across a variety of categories including AI applications, fintech, healthcare and security.
The average check size for this fund will be between $3 million to $5 million, which aims to support at least 30 startups. Like the company’s previous funds, the capital will be deployed over the next two to three years. Limited partners include nonprofit organizations, foundations, and endowments; Carnegie Mellon University is one of the publicly named supporters.
A* Capital, founded in 2020 and run by Kevin Hartz and Bennett Siegel, previously raised a $315 million Fund II Fund I in 2024 and $300 million in 2021. Hertz is a serial entrepreneur, best known for co-founding Xoom, the international money-transfer service PayPal later acquired for $1.1 billion in 2015, and Eventbrite, the event-ticketing platform that went public in 2018.
The firm has also attracted attention for unusually supporting young founders, even as this practice has become more common. heartz last told TechCrunch The company’s current portfolio comprises approximately 20% teen entrepreneurs. Among its other investments, it has backed fintech company Ramp and AI firm Mercor.
