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Kevin Hartz’s A* just closed its third fund with $450 million

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Early-stage venture firm A* on Tuesday announced a $450 million Fund III. The firm takes a generalist approach, backing companies across categories including AI applications, fintech, healthcare, and security.
The average check size for this fund will be between $3 million and $5 million, with the aim to back at least 30 startups. The capital will be deployed over the next two to three years, as with the firm’s previous funds. Limited partners include nonprofits, foundations, and endowments; Carnegie Mellon University is among the publicly named backers.

A*, founded in 2020 and run by Kevin Hartz and Bennet Siegel, previously raised a $315 million Fund II in 2024 and a $300 million Fund I in 2021. Hartz is a serial entrepreneur best known for co-founding Xoom, the international money-transfer service PayPal later acquired for $1.1 billion in 2015, and Eventbrite, the event-ticketing platform that went public in 2018.

The firm has also drawn attention for backing unusually young founders, even as the practice has become more common since. Hartz told TechCrunch last fall that close to 20% of the firm’s current portfolio involve teenage entrepreneurs. Among others of its investments, it has backed the fintech company Ramp and the AI firm Mercor.

This story was updated to clarify the name of the firm.

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2027: SDP leaders join APC in Oyo

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The Social Democratic Party, SDP, candidate in Oluyole State Constituency in Oyo State during the 2023 general elections, Mogaji Saheed Oyewale, the party’s chairmanship candidate in the 2024 local government election, Mr David Arowolo and other notable chieftains of the party have dumped the party.

DAILY POST reports that they have joined the All Progressives Congress, APC.

Other SDP chieftains who joined the APC are the party’s Chairman in Oluyole Local Government Area, Mr Ganiyu Lawal, Secretary, Adetunji Adewale, Women Leader, Mrs Taiwo Lasisi; Youth Leader, Muritala Jeje, and the Public Relations Officer, Afeez Agbongbon.

Others are all the local government and ward executive committee members from the 10 electoral wards in the local government area.

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The former SDP chieftains announced their defection when they visited the APC state secretariat on Tuesday in Ibadan, the state capital.

They were received by the APC Chairman in the state, Chief Moses Adeyemo.

Oyewale, who led the former SDP chieftains, disclosed that their decision to join the APC was informed by their desire to be part of the realisation of President Bola Tinubu’s dream for a better Nigeria.

He said, “We decided to join the APC because we appreciate the good work of President Tinubu and, as patriots, we cannot afford to stay away when we can be part of the success story.

“Virtually all the people who matter in the SDP will join the APC in a matter of weeks, and I can assure you that we will all work for our new party to win big in 2027.”

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Plateau JNI denies establishment of Hisbah 

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Plateau State chapter of Jama’atu Nasril Islam, JNI, has debunked allegations that an unnamed Muslim organisation has established a religious and moral enforcement group operating under the umbrella of the Hisbah Corps in Jos North Local Government Area of the state.

The JNI made the denial in a statement on Tuesday following outrage over allegations that members of the group had been involved in intimidation, harassment, extortion and the imposition of unauthorised rules and restrictions on residents in the affected areas.

Governor Caleb Mutfwang had also issued a statement rejecting the establishment of the Hisbah group, and ordered an immediate halt to its activities.

He directed security agencies to identify and investigate individuals involved in the reported activities.

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Following the public outcry, the JNI, in a statement issued by the state secretary, Dr Salim Musa Umar, said it was not aware of any Islamic organisation planning to establish the Hisbah Corps in any part of Plateau State.

Umar said the group was aware of the controversy which originated on social media platforms, where some individuals allegedly used images generated by artificial intelligence to create the impression that a Hisbah organisation had been established in Jos North.

Umar, however, debunked the claims, saying no Islamic organisation had any plans to establish the Corps in the state. He clarified that an organisation such as Hisbah could not be legally established without enabling legislation passed by the State House of Assembly.

“I want to assure the people that no Islamic organisation in Plateau has come out to say it wants to establish Hisbah. There is nothing like that. It has never been discussed, and it is not part of what is being considered,” Umar said.

“The matter started on social media when some people appeared in uniforms created with the help of artificial intelligence, claiming that they had established Hisbah in Jos North. The information gained traction, and people began sharing it widely.

“Hisbah cannot be established without a law from the State House of Assembly, and the government has not done that. Therefore, people cannot simply come out and claim that they have established Hisbah,” he added.

The JNI secretary also appealed to social media users to refrain from creating or circulating content capable of causing misunderstanding and disrupting peaceful coexistence in the state.

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