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Jack Altman Launches $275 Million Fund via Alt Capital, Rapidly Expanding Venture Portfolio

Jack Altman Launches $275 Million Fund via Alt Capital, Rapidly Expanding Venture Portfolio
source: gettyimages
September 16, 2025

The Altman brothers continue to make waves in the venture capital space. Most recently, Jack Altman, co-founder of the $3 billion HR software startup Lattice and brother to OpenAI CEO Sam Altman, announced the launch of his second fund, raising $275 million through his solo venture firm, Alt Capital. Remarkably, he completed the fundraise in just one week, according to The Wall Street Journal.

This new fund significantly surpasses his initial $150 million raise in early 2024, which invested in approximately 20 early-stage startups, including David AI — a YC-backed company specializing in datasets for speech models — and the unicorn restaurant software platform Owner.com.

Jack Altman’s strong connections and entrepreneurial experience bolster his venture efforts. After stepping down as CEO of Lattice in 2024 (remaining as chairman), he leverages his extensive network. His brother, Sam Altman, is well-known for his tenure as president of Y Combinator and active angel investing, though he is not an LP in Jack’s new fund. Meanwhile, another brother, Max Altman, co-founded Saga Ventures, which raised a $125 million fund in 2024.

Stay tuned for more updates on the latest industry developments in venture capital.

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