The Altman brothers have certainly demonstrated their skill in the venture capital world. On Tuesday, this was particularly true for Jack Altman, the co-founder of HR tech company Lattice, which is valued at $3 billion, and sibling to OpenAI CEO Sam Altman.
Jack Altman has now revealed a second fund of $275 million for his solo venture, Alt Capital. According to what he shared with The Wall Street Journal, the whole process took just one week from beginning to end.
His initial fund, which he secured in early 2024, totaled $150 million—making this latest round a significant increase. He used the first fund to back around 20 startups at the early stage, he mentioned, among them David AI (a Y Combinator graduate focused on speech model datasets) and Owner.com, a unicorn in the restaurant software space.
Jack is evidently well-connected and brings his own experience as a founder, though he stepped down as CEO of Lattice in 2024 (he still serves as chairman). Notably, Sam Altman was once the president of Y Combinator and continues to invest as an angel (though, per WSJ, he isn’t an LP in this new fund). Meanwhile, their brother Max Altman also co-founded Saga Ventures, which closed its own $125 million fund in 2024.
