⁠AirBnb and Ramp investor A-Star raises $450M as it looks to replicate previous success

▤ Summary

A-Star closed a $450 million third fund, its largest to date, and will deploy it over roughly three years. The firm doubles down on a concentrated seed-stage strategy, writing $3M–$5M checks into about 30–40 startups per fund and targeting at least 10% ownership before avoiding direct competitors. Founders Kevin Hartz and Bennett Siegel built A-Star to prioritize selective, conviction-led early investments rather than chasing mega late-stage rounds. The firm highlights growing interest in enterprise software, automation, and next-generation digital infrastructure, and already lists software category winners such as Airbnb, Notion, Ramp and Palantir in its portfolio.

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