Jack Altman, co-founder of HR software unicorn Lattice and brother of OpenAI CEO Sam Altman, has closed a massive new fund in record time. His solo-run venture firm, Alt Capital, has raised $275 million for its second early-stage fund — and it took him just one week to get commitments, he told The Wall Street Journal.
This marks a big leap from Altman’s first fund, a $150 million vehicle launched in early 2024, which he deployed across roughly 20 early-stage startups. Notable investments from that fund include:
- David AI, a Y Combinator-backed company providing data sets for speech models.
- Owner.com, a fast-growing restaurant software platform that has since reached unicorn status.
Although Jack stepped down as CEO of Lattice in 2024, he continues to serve as the company’s chairman, maintaining strong founder credibility and deep ties across Silicon Valley.
A family of Venture Capitalists
The Altman brothers have become a rare case of a family deeply entrenched in the venture world. Sam Altman, famously the former president of Y Combinator, remains a prolific angel investor (though not an LP in this new fund). Meanwhile, Max Altman, another brother, co-founded Saga Ventures, which raised a $125 million fund in 2024.
Why it matters
Raising $275 million in just a week is no small feat — and it underscores Jack Altman’s reputation, network, and proven founder-investor track record. With this fresh capital, Alt Capital is poised to back a new generation of early-stage companies, adding to the Altman family’s growing influence in tech and venture capital.
