Jack Altman joins Benchmark as GP

Jack Altman joins Benchmark as GP

Jack Altman and Benchmark announced today that he could be becoming a member of the agency as a common associate. 

This news is a big deal, particularly since Altman has been working his personal VC agency, Alt Capital, since at the very least 2024. The fund raised a $150 million Fund I in early 2024 and then, just last September, announced a $274 million Fund II, raised in just every week. On LinkedIn, Altman called the past two years working Alt Capital as an investor “the most rewarding” of his life, including that he beloved “new ideas and being part of a team with a mission.” 

Alt Capital invested in at the very least 52 corporations, according to PitchBook, including Rippling, Antares Nuclear, and CompLabs. It’s unclear what occurs to Alt Capital or whether or not Benchmark has acquired its portfolio, as Altman also announced that his teammates from the fund can be following him to Benchmark. (That’s also uncommon, given Benchmark has traditionally been structured as a flat agency with primarily GPs only, versus layers of traders.)

Altman also said he’ll retain the board seats at the corporations he backed while at Alt Capital. 

Altman didn’t reply to requests for remark earlier today; Benchmark declined to remark.

Altman, a youthful brother of OpenAI co-founder Sam, is also the founding father of the HR platform Lattice, which he still chairs, per his LinkedIn profile. 

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