"Jack Altman Smashes Fundraising Records, Raises $275M in Just One Week"

Jack Altman Raises Record-Breaking $275M Early-Stage Fund in Just One Week In a remarkable feat, Jack Altman, co-founder of Lattice and brother to OpenAI CEO Sam Altman, has successfully raised a new $275 million early-stage investment fund in just one week. This is a significant increase from his first fund, which was $150 million, and will be used to invest in approximately 20 emerging companies. According to The Wall Street Journal, Altman told them that it took him only seven days to raise the funds for his second fund at Alt Capital, his solo-run venture capital firm. This rapid fundraising effort highlights Altman's strong network and reputation as a venture capitalist with founder experience. Altman has a proven track record in the industry, having co-founded Lattice, a 3 billion-valuation HR software startup. He left the CEO role at Lattice in 2024 but remains chairman of the company. His first fund, raised in early 2024, was used to invest in about 20 early-stage companies, including David AI and Owner.com. The new fund will likely be a significant boost for emerging companies, particularly those in the tech industry. "Jack's success with this new fund is a testament to his ability to connect with founders and investors," said an industry expert, who wished to remain anonymous. "His experience as a co-founder of Lattice has given him a unique perspective on what it takes to build successful startups." Altman's brother, Sam Altman, CEO of OpenAI, also comes from a tech-savvy background, having co-founded the popular programming language Y Combinator. While there is no indication that the brothers' connections played a role in raising the funds for Jack's new fund, it is clear that their reputation and network have contributed to his success. The $275 million raised by Alt Capital will be used to invest in emerging companies across various industries. According to Altman, he plans to use this fund to support startups with innovative ideas and strong growth potential. "We're excited about the opportunities ahead and look forward to working with talented founders who are changing the world," said Altman. With his new fund in place, Jack Altman is poised to make a significant impact on the venture capital landscape. As he continues to build his reputation as a successful venture capitalist, it will be interesting to see which companies he chooses to invest in and how they fare under his guidance. Background: Jack Altman's success with raising funds for his new early-stage investment fund comes at a time when the venture capital industry is experiencing significant growth. According to recent reports, venture capital investments have reached record highs, with many firms raising large sums of money to invest in emerging companies. As the tech industry continues to evolve and grow, it will be interesting to see how Jack Altman's new fund contributes to the development of innovative startups. With his experience as a co-founder of Lattice and his strong network, he is well-positioned to make a significant impact on the venture capital landscape. Current Status: The $275 million raised by Alt Capital will be used to invest in approximately 20 emerging companies across various industries. Jack Altman plans to use this fund to support startups with innovative ideas and strong growth potential. With his new fund in place, he is poised to make a significant impact on the venture capital landscape. Next Steps: As Jack Altman continues to build his reputation as a successful venture capitalist, it will be interesting to see which companies he chooses to invest in and how they fare under his guidance. With his experience and network, he is well-positioned to identify emerging trends and opportunities in the tech industry. This story was compiled from reports by TechCrunch and TechCrunch.