Benchmark Hires Jack Altman, Sees Recent AI Bets Surge

Venture capitalist and entrepreneur Jack Altman has been hired by Benchmark as a general partner, just two years after he became a full-time investor and started his own firm, Alt Capital.

Altman had recently raised $275 million for his second fund at Alt Capital. While he had already started investing from that fund, a majority of that capital will not be collected from its investors, according to a person familiar with the matter, and the firm won’t make new investments. However, Altman will retain his board seats in startups he had backed, he said in a post on X.