Alt Capital Secures $275 Million for Early-Stage Fund II

Jack Altman, co-founder of the HR software firm Lattice, has announced the successful close of Alt Cap II, a new $275 million early-stage venture fund. The fund, which significantly surpasses Alt Cap I's $150 million, will continue to focus on Seed and Series A investments, targeting approximately 20 companies with a similar structure but slightly larger check sizes.

Altman shared his philosophy behind the fund on social media, stating, > "My goal when I became a full time investor was to be the type of partner I would have most wanted during my time building a company: someone who had done the work I was doing before, who had the network to help me reach my goals faster, and who had my back no matter what." This approach emphasizes a founder-friendly, experienced partnership model.

The new fund was reportedly raised in a remarkably short period, with some sources indicating it took only a week from start to finish. This rapid fundraising highlights strong investor confidence in Altman's investment thesis and his track record, building on the success of Alt Cap I, which backed around 20 early-stage companies including David AI and Owner.com.

Altman, who remains chairman of Lattice after stepping down as CEO in 2024, brings significant operational experience to his investing role. His firm, Alt Capital, is known for its sector-agnostic approach, backing innovative startups from inception through Series A across the United States. The firm aims to partner with entrepreneurs possessing unique insights and tapping into underserved market opportunities.

The venture capital landscape continues to see active participation from the Altman family, with Jack's brother, Sam Altman (OpenAI CEO), also a prominent figure in angel investing, and Max Altman co-founding Saga Ventures. Jack Altman expressed gratitude to the founders from Alt Cap I, noting, > "A special thanks to the founders that let us back them in Alt Cap I, you all are what it’s all about for me!" The firm’s strategy for Alt Cap II remains centered on partnering with inspiring entrepreneurs.