Alt Capital
Alt Capital is an early-stage venture capital firm founded by Jack Altman (Lattice co-founder, brother of OpenAI CEO Sam Altman) that invests in AI-focused startups across security, developer tools, healthtech, defense, and enterprise software, managing over $425 million across two funds.
- Company typePrivate
- Founded-
- Headquarters—
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Alt Capital does
Alt Capital is a privately held, early-stage venture capital firm that invests in AI-focused startups. The firm was founded and is led by Jack Altman, co-founder of Lattice and brother of OpenAI CEO Sam Altman, who serves as managing partner. Headcount is reported in the 1-10 range, and the firm operates from altcap.com with no public listing or ticker. Alt Capital's stated focus is on AI-focused early-stage deals sourced through proven operators with strong ecosystem connections, leveraging Jack Altman's operating track record and family proximity to OpenAI to attract limited partners seeking exposure to enterprise AI winners.
The firm's deployed capital is concentrated in artificial intelligence applications across a wide range of verticals, with documented investments in AI security (depthfirst, Series A and B totaling $120M raised), developer tools (Dify, Span), personal AI assistants (Town), agentic sales (Jeeva AI), AI marketing workflows (AirOps), healthtech (Alleviate Health, Biogenesis), government and civic tech (Pursuit), AI deal intelligence (Centari), and AI-relevant defense and nuclear energy (Antares Nuclear). Alt Capital typically participates as a minority co-investor alongside lead investors such as Andreessen Horowitz, Accel, Meritech Capital, Unusual Ventures, Benchmark, and Forerunner Ventures. Check sizes have ranged from $4.3M seed rounds to participation in a $96M Series B round.
Alt Capital's revenue model is standard asset management: it raises capital from limited partners in multi-year funds and generates revenue through management fees and, on eventual exits, carried interest on portfolio gains. The firm closed its debut $150M fund in early 2024 and followed with a $275M second fund in October 2025, closed in roughly seven days. Management-fee rates, carried-interest terms, and the identities of limited partners are not publicly disclosed, and the firm has no product or subscription revenue beyond fund management.
Alt Capital firmographics
Firmographics- Name
- Alt Capital
- Website
- https://www.altcap.com
- Company type
- Private
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Alt Capital is an early-stage venture capital firm founded by Jack Altman (Lattice co-founder, brother of OpenAI CEO Sam Altman) that invests in AI-focused startups across security, developer tools, healthtech, defense, and enterprise software, managing over $425 million across two funds.
- Ownership category
- akta.pro rank
Alt Capital industry classification
Industry- Product category
- Venture Capital
- NAICS
- Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239)
- SIC
- Investment Advice (6282), Finance Services (6199)
- akta.pro primary industry
- Micro-VC & Angel Funds (FSANAAAI)
Keywords
Alt Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Alt Capital product offering
Product offeringCore offering
Alt Capital is an early-stage venture capital firm that invests institutional capital in AI-focused startups across seed, Series A, and Series B rounds. The firm raised a $150M debut fund in early 2024 and a $275M second fund in 2025, deploying capital into companies such as depthfirst, Antares Nuclear, Jeeva AI, Span, Town, Pursuit, Centari, AirOps, Dify, Biogenesis, and Alleviate Health. It generates returns through minority equity stakes in portfolio companies rather than by selling a product or service.
Product overview
Alt Capital is a venture capital firm that invests in early-stage technology startups. Based on the source data, Alt Capital operates as an investor rather than a product company, deploying capital into AI, developer tools, healthtech, and enterprise software startups. No specific product platform, module architecture, or service offering is documented in the available sources.
Differentiator
Problem solved
Functional benefit
Products and services
- Alt Capital Debut Fund (Fund I) A $150 million venture capital fund that invests institutional LP capital in early-stage, AI-focused startups as a minority equity participant in priced rounds. Aimed at institutional limited partners seeking thematic exposure to enterprise AI.
- Alt Capital Fund II A $275 million venture capital fund closed in 2025, investing in AI-focused seed, Series A, and Series B rounds. Targets institutional LPs seeking concentrated exposure to early-stage AI winners.
Companies that use Alt Capital
Customer profileIdeal customer profiles2 records
Alt Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Alt Capital partnerships and signals
Strategic signalScale indicators1 record
Recent moves5 records
Expansion highlights5 records
Alt Capital competitors and assessment
Company assessmentDirect peers
- Conviction: Sarah Guo's early-stage, AI-focused venture firm built around an operator-investor thesis. Highly comparable in stage, AI focus, and "founder of founder" brand positioning to Alt Capital.
- Unusual Ventures: Operator-led early-stage fund (Jyoti Bansal) investing in enterprise and AI startups, often co-investing alongside Alt Capital (e.g., AirOps Series A). Same stage, similar operator-LP model.
- South Park Commons: Operator-led community and early-stage fund focused on technical founders building AI and frontier-tech companies. Comparable stage, operator-LP model, and overlapping portfolio (e.g., Centari).
- Forerunner Ventures: Early-stage consumer and software investor (Kirsten Green) frequently co-investing with Alt Capital (Town, depthfirst). Comparable stage and thematic overlap.
- Homebrew: Operator-led (Satya Patel, Hunter Walk) early-stage fund with comparable size, "venture assistance" model, and concentration on infrastructure and applied AI deals.
- Mantis VC: Operator-led micro/seed-stage fund writing concentrated checks in AI startups, co-investing with Alt Capital (depthfirst Series A). Comparable stage and AI concentration.
- Caffeinated Capital: Early-stage, thesis-driven fund (Ray Tonsing) investing in technical and AI founders; co-invested with Alt Capital in Antares Nuclear. Comparable check size and stage.
Broad incumbents
- Andreessen Horowitz (a16z): Large multi-stage venture firm leading rounds Alt Capital participates in (Town, Alleviate). Much broader portfolio and check size, but a key co-investor and the most visible "smart money" anchor for Alt Capital's deals.
- Accel: Long-tenured multi-stage venture firm that led depthfirst's Series A with Alt Capital on the cap table. Operates broadly across stages, but a frequent anchor for the same AI deals Alt Capital pursues.
- Benchmark: Long-tenured early-stage venture firm that co-invested with Alt Capital in Pursuit's Series A. Broader portfolio and stage, but a benchmark "smart money" peer for early-stage AI participation.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Alt Capital social profiles
Digital presenceAlt Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Alt Capital leadership team
Management profileNumber of profiles
Profiles1 record
Alt Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Alt Capital M&A and investment
M&A and investmentM&A
Investments31 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Alt Capital
What does Alt Capital do?
Alt Capital is an early-stage venture capital firm that invests institutional capital in AI-focused startups across seed, Series A, and Series B rounds. The firm raised a $150M debut fund in early 2024 and a $275M second fund in 2025, deploying capital into companies such as depthfirst, Antares Nuclear, Jeeva AI, Span, Town, Pursuit, Centari, AirOps, Dify, Biogenesis, and Alleviate Health. It generates returns through minority equity stakes in portfolio companies rather than by selling a product or service.
Is Alt Capital a public or private company?
Alt Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Alt Capital founded?
Alt Capital was founded in -1. It employs 1 to 10 people.
Who are Alt Capital's main competitors?
Direct peers on record are Conviction, Unusual Ventures, South Park Commons, Forerunner Ventures, Homebrew, Mantis VC and Caffeinated Capital. Broad incumbents are Andreessen Horowitz (a16z), Accel and Benchmark.
Does Alt Capital have an API?
No public API is recorded for Alt Capital.
What industry is Alt Capital in?
Alt Capital's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAI, Micro-VC & Angel Funds. Its NAICS code is 523940 and its SIC code is 6282.