Initial venture firm A* announced Tuesday a $450 million Fund III. The company takes a generalist approach and supports companies in categories such as artificial intelligence applications, financial technology, healthcare and security.
The average check size for this fund will be between $3 million and $5 million, with the goal of backing at least 30 startups. The capital will be deployed over the next two to three years, much like the company’s previous funds. Limited partners include nonprofit organizations, foundations and endowments; Carnegie Mellon University is among the publicly named sponsors.
A*, founded in 2020 and led by Kevin Hartz and Bennett Siegel, previously raised a $315 million Fund II in 2024 and a $300 million Fund I in 2021. Hartz is a serial entrepreneur best known for co-founding Coatue Management.
The firm has also drawn attention for backing unusually young founders, even as the practice has since become more common. Hartz he told TechCrunch last fall that about 20% of the company’s current portfolio involves teenage entrepreneurs. Among its other investments, it has backed the fintech company Ramp and the artificial intelligence company Mercor.
This story has been updated to clarify the company name.
