Jack Altman, Lattice co-founder, secures $275M for early-stage investments

The funding, completed in just one week, marks a sharp jump from his first $150 million fund launched in 2024, Altman told the Wall Street Journal (WSJ). 

Altman’s first fund backed around 20 start-ups, including Y Combinator alum David AI and restaurant software company Owner.com, now valued at over $1 billion. 

“I’m really happy to share that we’ve raised Alt Cap II, a $275M early stage fund. We backed ~20 companies at Seed and Series A in Alt Cap I. The new fund will be the same structure with a bit larger checks. But mostly we just want to be in business with people who inspire us,” Altman wrote on X.com (earlier known as Twitter.com). 

Altman said the new fund will continue to focus on early-stage technology investments, particularly in AI, software, and frontier tech, where he believes his founder experience provides an advantage. 

Altman launched Lattice in 2015 and grew it into a $3 billion HR software company. Though he stepped down as CEO of Lattice in 2024, Altman remains chairman. His venture into investing builds on his founder experience and Silicon Valley network. 

While his brother Sam Altman, is not an investor in the new fund, the Altman family’s presence in venture capital continues to expand, with Max Altman also running a $125 million growth fund at Saga Ventures. 

The rapid raise highlights strong confidence in Altman’s network and expertise, even as the broader venture capital market remains cautious.