A* Raises $450M for Third Fund
Silicon Valley venture capital firm A*, co-founded by Eventbrite co-founder Kevin Hartz, has officially closed its third fund at $450 million — a substantial raise that signals continued investor appetite for early-stage bets even amid broader market uncertainty.
The firm, which takes a generalist approach rather than focusing narrowly on a single sector, plans to deploy the capital across AI applications, fintech, healthcare, and security startups. Each deal from the new fund will carry an average check size of between $3 million and $5 million, with A* aiming to back at least 30 companies over the fund's life.
Generalist Strategy in a Specialist World
In an era where many venture firms have pivoted to laser-focused thesis investing — betting exclusively on AI infrastructure or climate tech, for example — A*'s broad mandate is something of a contrarian stance. The firm argues that the best opportunities don't always arrive in predictable categories, and that a generalist lens allows it to move quickly when founders with strong fundamentals show up in unexpected places.
The $3M–$5M average check size positions A* firmly in the early-stage camp, competing for deals at the Series A and late seed end of the market — rounds where product-market fit is beginning to emerge but growth capital is still scarce relative to later stages.
Kevin Hartz's Track Record
Hartz brings significant founder credibility to the table. He co-founded Eventbrite, the ticketing and event management platform that went public in 2018, and was an early investor in companies including Airbnb, Lyft, and Pinterest. That founder-to-investor pipeline has long been a calling card for A*, which markets itself as a firm that understands the pressures of building from the inside.
The third fund at $450 million represents meaningful growth for the firm, continuing momentum from its earlier vehicles and suggesting LPs remain confident in its deal-selection ability despite a venture market that has been significantly more selective since the highs of 2021.
What's Driving the Raise
The timing isn't accidental. AI applications have dominated venture headlines for the past two years, and healthcare tech — accelerated by pandemic-era digitization — continues to draw significant capital. Security, meanwhile, has become a near-mandatory budget line for enterprise customers, making it one of the more recession-resistant corners of the startup market.
By staying generalist across these four verticals, A* is essentially hedging: if one category cools, the portfolio has exposure to others that may still be running hot.
For founders, a fund this size from a firm with Hartz's profile represents a meaningful potential partner — one with both the capital to lead early rounds and the operational experience to help navigate the chaos of the early years.
The full fund close was reported by TechCrunch on May 12, 2026.
Source: TechCrunch
