Jack Altman Closes $275 Million AI Fund in Record Time

Jack Altman, the former CEO of Lattice, has successfully raised $275 million for a new venture-capital fund at his firm, Alt Capital. This fund, known as Alt Capital II, was closed in a remarkably short period of just one week. The fund aims to support artificial intelligence startups that are set to replace current enterprise software with next-generation technology.

This new fund represents a significant increase from Alt Capital's first fund, which closed at $150 million in early 2024. The larger fund will enable Altman to lead more Series A investment rounds, a stage where his expertise is particularly beneficial.

Jack Altman has leveraged his experience and connections in the tech industry to achieve this rapid fundraising success. His previous fund was invested in approximately 20 early-stage companies, including notable names like David AI and Owner.com. The swift closure of this fund highlights the strong investor interest in AI-focused ventures and Altman's proven track record in the industry.