Alt Capital Raises $150 Million Fund, Extending Altman Brothers’ Funding Spree

Sam Altman’s younger brother Jack has raised a $150 million venture fund to invest in early-stage startups through his VC firm Alt Capital, the younger Altman said in an interview. The fund plans to lead or co-lead investments in startups right after they incorporate, with a focus on enterprise software, including artificial intelligence startups.

The fundraising comes weeks after Jack Altman said he would step down as CEO of HR startup Lattice, which he co-founded, to become executive chairman. The fund, Alt Capital’s third, is nearly double the size of its previous one in 2021 and extends a fundraising streak by the three Altman brothers, including Max, who previously worked as an investor in Alt Capital and is separately raising his own venture fund.