Jack Altman joins Benchmark as GP

Source: TechCrunch

Announcement

Jack Altman and Benchmark announced today that he would be joining the firm as a general partner.

Image Credits: Lattice

Alt Capital Background

Altman has been running his own VC firm, Alt Capital, since at least 2024. The fund raised a $150 million Fund I in early 2024 and, just last September, announced a $274 million Fund II, raised in just a week.

On LinkedIn, Altman called the past two years of running Alt Capital “the most rewarding” of his life, adding that he loved “new ideas and being part of a team with a mission.”

Alt Capital has invested in at least 52 companies, according to PitchBook, including Rippling, Antares Nuclear, and CompLabs.

Transition to Benchmark

It is unclear what will happen to Alt Capital or whether Benchmark will acquire its portfolio. Altman announced that his teammates from the fund will be following him to Benchmark, which is unusual because Benchmark has historically been structured as a flat firm with primarily GPs only, rather than layers of investors.

Altman also said he will retain the board seats at the companies he backed while at Alt Capital.

Comments

• Altman did not respond to requests for comment earlier today.
• Benchmark declined to comment.

Other Roles

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