Alt Capital
Solo-GP venture firm founded by Jack Altman. Notable portfolio: Figma, Rippling, Flexport, Opendoor, Finch, Durable.
Status (Feb 2026): effectively wound down. Jack Altman joined Benchmark as a General Partner; Alt Capital announced it would make no new investments, and Fund II did not draw capital from its investors ^[single-source]. Altman retained the board seats from companies he had already backed, and other Alt Capital partners followed him to Benchmark.
- Fund I: $150M (closed early 2024)
- Fund II: $275M (closed Sep 2025; raised in roughly one week)
Founder
Jack Altman — Managing Partner. Younger brother of OpenAI CEO Sam Altman. Co-founder and former CEO of Lattice (HR/people-management platform; built to unicorn status). Became a General Partner at Benchmark in Feb 2026.
Serval Relevance
- Participated in Serval’s $47M Series A (Oct 2025).
- Confirmed verbatim in Alex McLeod’s Series A LinkedIn post as a participating fund alongside Redpoint, First Round, GC, BoxGroup, Bessemer, Chemistry, Sunflower, Strike, Operator Partners. McLeod personally thanked Jack Altman by name.
- Alt Capital is a distinct entity from Operator Partners — earlier wiki entries had conflated them.