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.
The Nigeria Hydrological Services Agency (NIHSA) has issued a seven-day flood advisory, warning of a medium flood risk in 17 states between July 21 and July 27.
The agency said the alert followed rising water levels at key river monitoring stations, increasing the likelihood of localised flooding along river channels and floodplains.
NIHSA Director-General, Umar Mohammed, disclosed this in National Flood Advisory (Alert No. NFA-2026-200) issued on Tuesday.
He said the affected states are Adamawa, Bauchi, Benue, Borno, Edo, Gombe, Imo, Jigawa, Kaduna, Kano, Kebbi, Nasarawa, Niger, Plateau, Taraba, Yobe and Zamfara.
According to Mohammed, river levels at Saminara on the Karam River, Waya Dam Site on the Waya River and Amber on the Amber River had exceeded watch and warning thresholds.
He said 16 gauging stations nationwide were recording elevated river stages, placing nearby communities at risk of localised flooding.
Mohammed urged state governments, local authorities and residents of flood-prone communities to take precautionary measures immediately.
NIHSA said Bauchi had the highest exposure, with 1,841 communities, 145 schools, 101 health facilities and eight markets identified as vulnerable.
The agency also identified vulnerable communities and public facilities in Edo, Imo, Kaduna, Plateau and Benue states.
Mohammed urged the National Emergency Management Agency (NEMA), State Emergency Management Agencies (SEMAs), local governments and community leaders to activate emergency response plans.
He recommended relocating residents, livestock and valuables from floodplains to safer locations.
He also advised emergency agencies to pre-position food, medical supplies and water treatment materials in areas likely to be affected.
The NIHSA boss called for community mobilisation through early warning volunteers and local communication channels to ensure timely dissemination of flood alerts.
He cautioned residents against walking, driving or riding through flooded roads, bridges and fast-flowing waterways.
Mohammed further urged authorities to clear blocked drains, culverts and waterways to improve water flow and reduce flooding.
He advised the public and relevant agencies to monitor daily flood updates and advisories issued by NIHSA. (NAN)
The Federal Government has issued a fresh flood warning, alerting residents in 17 states to the risk of flooding over the next seven days as rising water levels continue to threaten communities across the country.
The warning was issued by the Nigeria Hydrological Services Agency (NIHSA) in its National Flood Advisory (Alert No. NFA-2026-200), covering the period from July 21 to July 27.
According to the Director-General of NIHSA, Umar Mohammed, the alert followed a steady rise in water levels at key river monitoring stations, increasing the likelihood of localised flooding along river channels and floodplains.
The states identified as being at medium flood risk are Adamawa, Bauchi, Benue, Borno, Edo, Gombe, Imo, Jigawa, Kaduna, Kano, Kebbi, Nasarawa, Niger, Plateau, Taraba, Yobe and Zamfara.
Mohammed said river levels at several critical locations had already exceeded warning thresholds, raising concerns about possible flooding in surrounding communities.
File Photo: Flooding in Nigeria
He said, “River levels at Saminaka on the Karam River, Waya Dam site on the Waya River and Amber on the Amber River had exceeded watch and warning thresholds.”
The NIHSA boss added that no fewer than 16 river gauging stations across the country were currently recording elevated water levels, placing nearby communities at risk of localised flooding if heavy rainfall continues.
He urged state governments, local authorities and residents living in flood-prone areas to begin taking precautionary measures immediately to minimise the impact of possible flooding.
Bauchi State was identified as the most vulnerable, with the agency revealing that about 1,841 communities, 145 schools, 101 health facilities and eight markets are exposed to flood risks. The agency also listed several vulnerable communities and public facilities in Edo, Imo, Kaduna, Plateau and Benue states.
Mohammed called on the National Emergency Management Agency (NEMA), State Emergency Management Agencies (SEMAs), local government authorities and community leaders to activate emergency preparedness and response plans without delay.
He recommended that residents living on floodplains relocate to safer areas, taking along their families, livestock and valuables before floodwaters rise.
The NIHSA Director-General also advised emergency agencies to pre-position food supplies, medical materials and water treatment equipment in communities likely to be affected to ensure a quicker response if flooding occurs.
He stressed the need for early warning systems to reach vulnerable communities, urging authorities to mobilise local volunteers and utilise community communication channels to spread flood alerts promptly.
Mohammed also warned residents against attempting to walk, drive or ride through flooded roads, bridges and fast-flowing waterways, noting that such actions could result in avoidable loss of lives.
He further urged relevant authorities to clear blocked drains, culverts and waterways to improve the free flow of water and reduce the risk of flooding during the rainy season.
The latest advisory comes as Nigeria continues to experience heavy rainfall across several parts of the country, with recent flooding affecting communities in Lagos and other states. According to data from the National Emergency Management Agency, floods in 2025 claimed 232 lives, injured more than 600 people, affected over 315,000 residents, displaced more than 113,000 people and destroyed thousands of homes and hectares of farmland.
Mohammed advised both government agencies and members of the public to continue monitoring daily flood forecasts and advisories issued by NIHSA throughout the rainy season.