Jack Altman joins Benchmark as GP

In Brief

Jack Altman and Benchmark announced today that helium would beryllium joining the steadfast arsenic a wide partner. 

This quality is simply a large deal, particularly since Altman has been moving his ain VC firm, Alt Capital, since astatine slightest 2024. The money raised a $150 cardinal Fund I successful aboriginal 2024 and then, conscionable past September, announced a $274 cardinal Fund II, raised successful conscionable a week. On LinkedIn, Altman called the past 2 years running Alt Capital arsenic an capitalist “the astir rewarding” of his life, adding that helium loved “new ideas and being portion of a squad with a mission.” 

Alt Capital invested successful astatine slightest 52 companies, according to PitchBook, including Rippling, Antares Nuclear, and CompLabs. It’s unclear what happens to Alt Capital oregon whether Benchmark has acquired its portfolio, arsenic Altman besides announced that his teammates from the money volition beryllium pursuing him to Benchmark. (That’s besides unusual, fixed Benchmark has historically been structured arsenic level steadfast with chiefly GPs only, versus layers of investors.)

Altman besides said helium volition clasp the committee seats astatine the companies helium backed portion astatine Alt Capital. 

Altman, a younger member of OpenAI co-founder Sam, is besides the laminitis of the HR level Lattice, which helium inactive chairs, per his LinkedIn profile. 

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