Kevin Hartz’s A* just closed its third fund with $450 million, signaling strong confidence in early-stage startups across tech’s hottest sectors. The firm plans to write checks between $3 million and $5 million for at least 30 companies, a scale that puts it in the conversation with top-tier venture firms. Unlike many of its peers, A* isn’t locking itself into a single thesis. It’s backing everything from AI applications to fintech tools to healthcare innovations to security startups, a strategy that reflects Hartz’s belief in broad-based disruption rather than niche bets.

Hartz isn’t new to the game. He co-founded Eventbrite in 2006 and led it through its IPO in 2018 before stepping back from day-to-day operations. After selling his stake, he turned to venture capital, launching A* in 2020 with a $200 million first fund. The second fund, closed in 2022 at $300 million, already shows signs of traction, with portfolio companies like AI infrastructure startup Crusoe Energy and fintech player Pipe raising significant rounds on their own. This third fund’s size and scope suggest the firm is doubling down on its generalist approach, betting that the best opportunities aren’t confined to one industry.

The average check size between $3 million and $5 million puts A* in the sweet spot for startups that have moved past the seed stage but aren’t yet raising massive Series B rounds. This aligns with a broader trend in venture capital, where firms are writing larger checks to fewer companies to maintain ownership stakes in competitive rounds. Hartz has said he’s looking for startups with clear traction—whether that’s revenue growth, user adoption, or technical breakthroughs—that can scale quickly. The firm’s focus on AI applications alone is telling. With generative AI still dominating headlines, A* is placing bets on companies building tools for enterprises, developers, and consumers, not just research labs.

Healthcare and security are the other two pillars of A’s strategy. In healthcare, the firm is backing companies working on everything from AI-driven diagnostics to personalized medicine platforms. One portfolio company, Hippo Technologies, is building AI tools to reduce hospital readmissions, a problem that costs the U.S. healthcare system billions annually. In security, A is focusing on startups tackling modern threats like ransomware, supply chain attacks, and cloud security gaps. This reflects a reality where cyber threats are evolving faster than most companies can keep up.

Fintech remains a core focus, too. A* has backed companies like Pipe, a revenue-based financing platform that lets businesses access capital without giving up equity. With interest rates high and banks tightening lending, fintech startups that offer alternative financing solutions are in high demand. Hartz’s bet here is that the next generation of financial infrastructure won’t be built by traditional banks but by nimble, tech-driven platforms.

So what’s next for A? With $450 million to deploy, the firm will likely move quickly. Hartz has hinted that the firm will lean into later-stage seed and early Series A rounds, where competition is fierce but valuations are still reasonable. The firm’s generalist approach means it’s not just chasing the latest AI hype cycle—it’s looking for startups that solve real problems, regardless of the sector. For founders, that could mean a clearer path to backing than with firms that have hyper-specific theses. For investors, it’s a vote of confidence in Hartz’s ability to pick winners across multiple industries. One thing’s certain: A is betting big that the next decade of tech innovation won’t be siloed by category, but shaped by founders who can blend expertise across fields.

What You Need to Know

  • Source: TechCrunch
  • Published: May 12, 2026 at 18:45 UTC
  • Category: Startups
  • Topics: #techcrunch · #startups · #venture-capital · #kevin-hartz · #a-fund-$450m · #kevin-hartz-a-third-fund

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Curated by GlobalBR News · May 12, 2026

🇧🇷 Resumo em Português

O mercado de venture capital no Brasil e na América Latina acaba de receber um impulso significativo com o anúncio do fechamento do terceiro fundo da A*, liderada por Kevin Hartz, que captou impressionantes US$ 450 milhões. A iniciativa reforça a aposta agressiva em startups promissoras nos setores de IA, fintech e saúde, com investimentos que variam de US$ 3 milhões a US$ 5 milhões por rodada, sinalizando uma estratégia ousada para impulsionar a inovação na região.

A relevância dessa movimentação transcende fronteiras, especialmente para o Brasil, que já se consolidou como um dos principais hubs de startups da América Latina. A A*, conhecida por seu histórico de investimentos em empresas como Slack e Airbnb, chega com uma proposta clara: não apenas injetar capital, mas também oferecer suporte estratégico para escalar negócios em setores críticos para o desenvolvimento econômico e social do país. Para os empreendedores brasileiros, isso representa uma oportunidade valiosa de acesso a recursos e mentoria de alto nível, além de um sinal de que o ecossistema local está cada vez mais atraente para fundos internacionais.

Com 30+ startups na mira e um foco em tecnologias disruptivas, a A* deve acelerar ainda mais a transformação digital no Brasil nos próximos anos.