Alt Capital closes $275 million second fund
Jack Altman’s second institutional vehicle targeted early-stage enterprise AI investments, particularly Series A rounds.
Alt Capital announced a $275 million second fund on September 16, 2025. The San Francisco-based firm, led by Lattice co-founder Jack Altman, planned to use the larger vehicle to lead more Series A investments in enterprise AI companies.
The fund’s limited partners included the University of Michigan, TrueBridge Capital Partners and Cendana Capital, according to contemporary reports. Its September filing listed 58 investors and the full $275 million offering as sold.
The investment thesis focused on startups replacing established corporate software with AI-based products. The second vehicle followed a $150 million first fund, whose portfolio included restaurant software company Owner.com and legal technology business Legora.
Use of funds
Back early-stage enterprise AI companies with a focus on Series A