Kevin Hartz's early-stage venture firm A* Capital has closed a $450 million Fund III, capitalizing on a track record of billion-dollar exits that distinguishes him among venture capitalists.
The generalist firm, co-run by Hartz and Bennet Siegel, will deploy capital across AI applications, fintech, healthcare, and security over the next two to three years. With average check sizes between $3 million and $5 million, A* plans at least 30 new startup investments. Hartz co-founded Eventbrite, which went public in 2018, and Xoom, the international money-transfer platform that PayPal acquired for $1.1 billion in 2015.
Limited partners backing the round include nonprofits, foundations, endowments, and Carnegie Mellon University. Hartz has become known for backing teenage entrepreneurs—roughly 20% of A*'s current portfolio involves founders still in high school. The firm has backed fintech company Ramp and AI startup Mercor.
This is A*'s third fund since its launch in 2020, following a $300 million fund in 2021 and a $315 million Fund II in 2024.
