The Altman brothers sure have a knack for being venture capitalists. On Tuesday, this especially applied to Jack Altman, co-founder of $3 billion-valuation HR software startup Lattice[1] and brother to OpenAI CEO Sam Altman.
Jack Altman just announced[2] a second $275 million fund for his solo-run firm Alt Capital. And from start to finish, it took him a week[3], he told The Wall Street Journal.
His first fund, raised in early 2024[4], was $150 million, so this is a big step up. He used it to invest in about 20 early-stage companies, he said, including David AI (a YC-alum that does data sets for speech models) and unicorn restaurant software maker Owner.com[5].
Jack is, clearly, well-connected and has founder experience, although he left the CEO role at Lattice in 2024 (he remains chairman). Of course, Sam was famously president of Y Combinator and is still an active angel investor (but not an LP in this new fund, the WSJ reports). Meanwhile, brother Max Altman is a co-founder of Saga Ventures, which raised a $125 million fund[6] of its own in 2024.
References
- ^ $3 billion-valuation HR software startup Lattice (techcrunch.com)
- ^ announced (x.com)
- ^ it took him a week (www.wsj.com)
- ^ raised in early 2024 (www.sec.gov)
- ^ Owner.com (www.owner.com)
- ^ a $125 million fund (www.youtube.com)