A* Closes $450M Fund III to Back 30 Startups
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- A* announced a $450 million Fund III on Tuesday, its third fund since 2020.
- A* plans to write $3‑$5 million checks to back at least 30 startups over the next two to three years.
- Limited partners include nonprofits, foundations, endowments, and Carnegie Mellon University.
- Kevin Hartz co‑founded Xoom and Eventbrite before launching A* with Bennett Siegel in 2020.
- A* has a reputation for backing teenage founders, with about 20% of its portfolio involving entrepreneurs under 20, and has invested in firms such as Ramp and Mercor.
Why it matters: Startups gain a fresh $3‑$5 M injection, accelerating growth in AI, fintech, health and security, while LPs—including Carnegie Mellon—see exposure to a fund that backs youthful founders and diverse sectors.
