Jack Altman Raises $275M for Alt Capital’s Second Early-Stage Fund

Team S · 2025-10-10T11:52:10.000Z

Jack Altman, co-founder of the HR software company Lattice and brother to OpenAI CEO Sam Altman, has successfully raised $275 million for his second early-stage venture fund, Alt Capital II . This new vehicle nearly doubles the size of his first fund, which closed at $150 million in early 2024. Altman serves as the general partner of Alt Capital II, and the fund is structured as a Delaware limited partnership. The fund closed remarkably quickly - he gathered commitments in about a week and completed the process in roughly a month. Among the known limited partners are institutions such as the University of Michigan , TrueBridge Capital Partners , and Cendana Capital (through its founder, Michael Kim). Altman has clarified that Sam Altman is not an LP in this fund. The fund will continue Alt Capital’s focus on early-stage companies (seed and Series A), with an emphasis on rebuilding enterprise software using AI. In Alt Capital’s prior fund, portfolio investments included Owner.com (restaurant software) and David AI (speech-model datasets), among others. While Alt Capital’s earlier fund has seen follow-on funding for some portfolio companies, it has not yet recorded any exits.

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Jack Altman Raises $275M for Alt Capital’s Second Early-Stage Fund | Newnex