Venture capital firm A* has announced the successful closing of its third fund, totaling $450 million. The firm intends to maintain its generalist investment strategy, targeting early-stage opportunities in high-growth sectors such as artificial intelligence, fintech, healthcare, and security. This latest capital injection follows a rapid growth trajectory for the firm, which previously raised $300 million in 2021 and $315 million in 2024.

Over the next two to three years, A* plans to deploy the new capital into at least 30 startups. The firm’s strategy involves providing check sizes typically ranging from $3 million to $5 million per investment. The fund is backed by a diverse group of limited partners, including various foundations, endowments, and nonprofits, with Carnegie Mellon University among the prominent supporters.

Established in 2020, A* is led by co-founders Kevin Hartz and Bennett Siegel. Hartz is a well-known entrepreneur whose previous ventures include the money-transfer service Xoom, which was acquired by PayPal, and the event-ticketing platform Eventbrite. Siegel brings deep industry expertise to the firm, having held significant roles at Boston Consulting Group, Altamont Capital Partners, and Coatue Management.

Beyond its sector focus, A* has gained recognition for its unique approach to founder demographics, frequently backing exceptionally young entrepreneurs. Nearly 20% of the firm’s current portfolio consists of teenage founders. The firm’s successful track record includes investments in notable companies such as the fintech enterprise Ramp and the artificial intelligence firm Mercor.