A* Ventures Leads with $315 Million for Fund II

A* Ventures, led by former Eventbrite founder Kevin Hartz, former Coatue partner Bennett Siegel, and former Opendoor and Uber operator Gautam Gupta, has raised $315 million for its oversubscribed Fund II. The firm intends to maintain its focus on leading seed rounds, strengthening its portfolio companies at the Series A stage, and making selective new investments at the Series B stage.

The fund will continue to pursue a generalist approach and invest across various industries.  Notably, Fund II's LP base consists entirely of institutional investors, a shift from Fund I, which had significant backing from well-known VCs and former operators such as Max Levchin, David Sacks, and Peter Thiel.