Altimeter Capital

Reviewed Updated Jul 6, 2026

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Location Menlo Park, CA / Boston, MA
Founded 2008
Fund Size $10.7B AUM (Q4 2025 SEC filing); seventh private venture fund
Website https://www.altimeter.com
Stage Focus
growth late-stage crossover
Sector Focus
enterprise cloud ai fintech defense data-infrastructure consumer-internet

Team

Brad Gerstner Founder & CEO
Jamin Ball Partner
Ram Woo Partner
Pauline Yang Partner
Thomas Reiner Partner
Erik Kriessmann Partner
John Kiernan CFO & Partner

About

Altimeter Capital is a technology-focused investment firm founded by Brad Gerstner in 2008 in Boston, Massachusetts, during the global financial crisis 12. Gerstner launched the firm with less than $3 million raised from friends and family 13. The firm describes itself as “a technology-focused investment firm built by a founder for founders” and aims to “help visionary entrepreneurs build iconic companies, disrupt markets and improve lives through all stages of growth” 4.

Altimeter operates a crossover model, managing both a long/short public equity hedge fund and private growth equity funds, allowing the firm to invest in technology companies across both public and private markets 12. As of Q4 2025, Altimeter had approximately $10.7 billion in assets under management, with 18 public equity positions valued at $6.66 billion 56. The firm is currently investing out of its seventh private venture fund 7.

The firm maintains offices at 2550 Sand Hill Road in Menlo Park, California, and at One International Place in Boston, Massachusetts 4. Gerstner’s first major trade was investing nearly half the fund into Priceline (now Booking Holdings) at approximately $45-50 per share, which returned over 24x as the stock rose past $1,000 within five years 13.

By 2013, Altimeter had grown AUM to over $1 billion and launched its first $75 million private fund focused on internet and software companies 1. The public equity fund has averaged annual returns of approximately 30% from 2011 to 2020 18. In 2020 and 2021, Altimeter launched two SPACs: Altimeter Growth Corp (AGC), which raised $450 million on the Nasdaq and merged with Singapore’s Grab in a $40 billion deal 910, and Altimeter Growth Corp 2 (AGCB), which raised $400 million on the NYSE but was terminated in December 2022 without completing a merger 1112.

As of February 2026, Altimeter has invested in 82 companies across its private funds, with 36 unicorns, 12 IPOs, and 14 acquisitions in its portfolio 13. The firm maintains a highly concentrated investment approach, typically holding 75% of its portfolio in its top 4-5 ideas 1.

Stated Thesis

Altimeter publicly describes its mission as helping “visionary entrepreneurs build iconic companies” and serving as “an expert long-term partner to companies as they enter the public markets” 4.

Brad Gerstner has articulated his investment philosophy around several core themes:

Supercycles and concentration: Gerstner focuses on identifying major technology “supercycles” — long-duration innovation waves like the internet, mobile, cloud computing, and artificial intelligence — and concentrating capital in the platform companies best positioned to dominate each cycle 1415. He has stated: “First, there are not hundreds of big outcomes. And so if you have a diversified portfolio across hundreds of investments, you will have an index like return” 15. He further explained: “I want maximum dollars behind our best ideas. Why the hell would I put an incremental dollar in my 10th best idea or my 15th best idea when I can put more money in my best idea?” 15.

Crossover model: The firm positions its competitive advantage as bringing public market knowledge and analytical rigor to private company investing, and vice versa. Gerstner has described this as reminiscent of “the throwback partnerships that Buffett & Munger had” 1.

Founder partnership: Gerstner emphasizes his own entrepreneurial background and states that Altimeter brings a “founder’s mentality” with “the empathy of an early stage, founder or venture capitalist, but we have the scalability of capital” 3. He has said: “We usually take the handoff right when they discover product market fit” 16.

AI conviction: On the AI supercycle specifically, Gerstner has stated: “The platform disruption around augmented intelligence is gonna be bigger than the internet itself” and that “80% of the benefits of AI over the next three to four years will inure to the benefit of the incumbents” 16.

Inferred Thesis

Based on 42 verified private investments and 18 public equity positions (Q4 2025 13F):

Stage distribution: Altimeter operates primarily as a growth-stage and crossover investor. Among verified private investments, the firm typically invests at Series B and later stages, with check sizes ranging from $15M-$25M at Series A to $50M-$250M for growth rounds 7. The firm rarely participates at seed stage; its private portfolio skews heavily toward growth equity and pre-IPO rounds, with many positions held through and after IPO via the public fund.

Sector breakdown (private portfolio, 42 verified investments): - Enterprise software / cloud / data infrastructure: 15 of 42 (36%) — Snowflake, Confluent, Cockroach Labs, MongoDB, GitLab, Hammerspace, Clumio, Sigma, Parloa, HubSpot, Okta, AppDynamics, Twilio, CoreWeave, LiveKit - AI / frontier tech: 7 of 42 (17%) — OpenAI, Anthropic, Cerebras, Profluent, Nexthop AI, Unlearn, Roblox - Defense / aerospace / energy: 5 of 42 (12%) — Anduril, SpaceX, K2 Space, Castelion, Boom Supersonic - Fintech / payments: 4 of 42 (10%) — Plaid, Pine Labs, Bridge, StockX - Consumer internet / mobility: 6 of 42 (14%) — Grab, Uber, Airbnb, ByteDance, Coupang, MercadoLibre - Energy / infrastructure: 2 of 42 (5%) — Base Power, Bloom Energy - Other: 3 of 42 (7%) — Modern Treasury, Shopify, Boom Supersonic (energy division)

Public portfolio concentration (Q4 2025): The top 3 positions (NVIDIA at 22.7%, Meta at 18.3%, Microsoft at 9.3%) represent over 50% of the $6.66 billion public portfolio 6. The full public portfolio of 18 holdings is dominated by mega-cap technology platforms and AI infrastructure plays.

Geographic focus: Overwhelmingly US-based portfolio, with notable exceptions in Southeast Asia (Grab, Coupang), Latin America (MercadoLibre), India (Pine Labs), Europe (Parloa in Germany), and China (ByteDance). The public portfolio exited all direct China positions (Alibaba, PDD Holdings) in Q4 2025 6.

Investment philosophy patterns: Altimeter practices extreme concentration — approximately 90% of the public portfolio is in the top 10 positions 6. The private fund of $400M typically contains roughly 10 investments 1. This is consistent with Gerstner’s stated “essentialism” philosophy.

Co-investor patterns: Frequently appears alongside Coatue, Sequoia Capital, Benchmark, Index Ventures, ARK Invest, and Fidelity across growth-stage rounds. In the AI space, Altimeter has invested in both OpenAI and Anthropic — an unusual pattern of backing competing companies 17.

Notable gap between stated and inferred thesis: While Altimeter positions itself as a “founder-first” firm that takes the handoff at product-market fit, its public portfolio is dominated by mega-cap incumbents (NVIDIA, Meta, Microsoft, Amazon), suggesting the firm’s primary capital deployment is in large, established technology platforms rather than earlier-stage founders.

Portfolio

Private Investments

Company Stage Year Sector Status Source
Snowflake Series C (lead, $45M announced / $79M total) 2015 Cloud / Data Public (IPO 2020) 382627
AppDynamics Series F ($158M, co-led with General Atlantic) 2015 Enterprise Software Acquired by Cisco (2017) 182829
Cockroach Labs Series C (co-led, $55M) 2019 Database / Infrastructure Active 193031
Cockroach Labs Series D (lead) 2020 Database / Infrastructure Active 19
Cockroach Labs Series E (lead) 2021 Database / Infrastructure Active 19
Roblox Series H (co-lead) 2021 Gaming / Metaverse Public (DPO 2021) 20
Grab SPAC merger 2021 Mobility / Fintech Public (2021) 910
Plaid Series D (lead) 2021 Fintech Active 21
Modern Treasury Series C (lead) 2021 Fintech Active 22
Confluent Pre-IPO ~2020 Data Streaming Public (IPO 2021); acquired by IBM (2025) 23
Pine Labs Series B 2018 Payments / Fintech Public (IPO 2025) 24
CoreWeave Series C (participated; Coatue led) 2024-05-01 AI Infrastructure Public (IPO 2025) 252633
OpenAI Growth ($6.6B at $157B post-money) 2024-10-02 AI Active 174546
Anthropic Series F (2025); Series H (co-led, $65B at $965B post-money) 2026-05-28 2025; 2026-05-28 AI / Frontier Models Active 1738
Anduril Series F ($1.5B round; Sands Capital + Founders Fund co-led at $14B val; Altimeter listed as existing investor — first-check date not publicly disclosed) 2024-08-07 Defense Tech Active 74748
SpaceX Secondary/Growth ~2023 Aerospace Active 7
K2 Space Series B ($110M; co-led with Lightspeed Venture Partners) 2025-02-13 Aerospace Active 74950
K2 Space Series C ($250M at $3B post-money; Redpoint led; participated) 2025-12-11 Aerospace Active 5152
Hammerspace Series B (lead, $100M at $500M+ valuation) 2025-04-16 AI Data Infrastructure Active 273435
Profluent Series B (co-lead with Bezos Expeditions, $106M) 2025-11-19 AI / Biotech Active 283637
Boom Supersonic Series B (participated; Darsana led) 2025-12-09 Aerospace / Energy Active 2932
Castelion Series B (co-lead, $350M with Lightspeed) 2025-12-05 Defense Tech / Hypersonics Active 13394041
Parloa Series B (led, $66M / €62M; EQT Ventures, Newion, Senovo, Mosaic Ventures, La Familia Growth participated) 2024-04-24 AI / Customer Service Active 305354
Parloa Series C (co-led with Durable Capital Partners + General Catalyst, $120M at $1B val — Unicorn; EQT Ventures, RPT Capital, Senovo, Mosaic Ventures participated) 2025-05-06 AI / Customer Service Active 305556
Parloa Series D ($350M at $3B val; General Catalyst led) 2026-01 AI / Customer Service Active 30
Cerebras Series H (USD 1B at USD 23B post-money; Tiger Global led; participated alongside Benchmark, Fidelity Management & Research Company, Atreides Management, Alpha Wave Global, AMD, Coatue, and 1789 Capital) 2026-02-03 AI Chips Active 13616263
LiveKit Series C (participated, $100M led by Index at $1B val) 2026-01-22 AI / Real-time Infrastructure Active 13424344
Nexthop AI Series B (USD 500M at USD 4.2B post-money; Lightspeed Venture Partners led; Andreessen Horowitz participated; Altimeter participated) 2026-03-10 AI Networking Active 13646572
ByteDance Secondary/Growth ~2020 Consumer Internet Active 7
Bridge Seed ~2022 Fintech Acquired by Stripe (2024) 7
Base Power Series A (participated; USD 68M; Thrive Capital, Valor Equity Partners, Trust Ventures, Terrain, and MCJ also participated) 2024-05-07 Energy Active 777879
Base Power Series B (participated; USD 200M co-led by Addition, a16z, Lightspeed, Valor; Thrive, Altimeter, Terrain, Trust participated) 2025-04-08 Energy Active 5758
Base Power Series C (participated as returning investor; USD 1B at USD 4B post-money; Addition led; CapitalG, Ribbit, Spark, BOND, Lowercarbon new) 2025-10-08 Energy Active 5960
Unlearn Series C (led, $50M; Radical Ventures + Wittington Ventures + Mubadala Capital + Epic Ventures + Necessary Venture Capital returned) 2024-02-06 AI / Healthcare Active 13666768
Sigma Series D (participated as returning investor; $200M at $1.5B val; Spark Capital + Avenir Growth Capital co-led; NewView Capital new; Snowflake Ventures + Sutter Hill Ventures + D1 Capital Partners + XN returned) 2024-05-16 Data Analytics Active 13697071
Clumio Series D (participated as existing investor; $75M; Sutter Hill Ventures led; Index Ventures returned; NewView Capital new; brings total to $261M) 2024-02-21 Data Protection Acquired (Commvault, ~$47M, announced 2024-09-24) 1373747576
StockX Growth ~2021 E-commerce Active 7

Public Portfolio (Q4 2025 13F)

Company Value % of Portfolio Source
NVIDIA $1.51B 22.7% 6
Meta Platforms $1.22B 18.3% 6
Microsoft $618M 9.3% 6
Amazon $511M 7.7% 6
Uber $457M 6.9% 6
Snowflake $445M 6.7% 6
Taiwan Semiconductor $371M 5.6% 6
Coupang $370M 5.6% 6
CoreWeave $230M 3.5% 6
Confluent $210M 3.2% 6
Shopify $92M 1.4% 6
MercadoLibre $64M+ ~1.3% 6
Alphabet $59M+ ~1.2% 6
Bloom Energy $27M ~0.4% 6

In Their Own Words

On supercycles and concentration: “First, there are not hundreds of big outcomes. And so if you have a diversified portfolio across hundreds of investments, you will have an index like return.” — Brad Gerstner, The Twenty Minute VC podcast, 2022 15

“I want maximum dollars behind our best ideas. Why the hell would I put an incremental dollar in my 10th best idea or my 15th best idea when I can put more money in my best idea?” — Brad Gerstner, The Twenty Minute VC podcast, 2022 15

On conviction investing: “It wasn’t that we had a strong conviction on the data warehouse market. What we had conviction in was that all the world’s storage and compute was going to move into the cloud.” — Brad Gerstner, on the Snowflake investment, The Twenty Minute VC podcast, 2022 15

On working with founders: “Being willing to tell the truth, as I would have wanted as a founder.” — Brad Gerstner, The Twenty Minute VC podcast, 2022 15

On AI: “The platform disruption around augmented intelligence is gonna be bigger than the internet itself.” — Brad Gerstner, Masters in Business with Barry Ritholtz, November 2023 16

“80% of the benefits of AI over the next three to four years will inure to the benefit of the incumbents.” — Brad Gerstner, Masters in Business with Barry Ritholtz, November 2023 16

On technology investing: “Technology by its very essence is about disruption. If you ever think you can go to sleep on a technology company, it’s a sure way to get carried out on a stretcher.” — Brad Gerstner, Masters in Business with Barry Ritholtz, November 2023 16

“Don’t give me this craziness about efficient markets.” — Brad Gerstner, Masters in Business with Barry Ritholtz, November 2023 16

On organizational philosophy: “Our cultural North Star at Altimeter is essentialism. It’s kind of an operating roadmap for me in life.” — Brad Gerstner, The Twenty Minute VC podcast, 2022 15

“We have an incredibly flat organization. We have 13 or 14 analysts. We all call ourselves analysts.” — Brad Gerstner, The Twenty Minute VC podcast, 2022 15

On the Grab SPAC: “Southeast Asia is one of the fastest growing digital economies in the world, with a population approximately twice the size of the United States. Yet online penetration for food delivery, on-demand mobility and electronic transactions are a fraction of the U.S. and China.” — Brad Gerstner, on the Grab SPAC merger, April 2021 10

On talent and team building: “The team you build is the company you build.” — Erik Kriessmann, Partner at Altimeter Capital 7

What Founders Say

No independently sourced founder testimonials found. Brad Gerstner has described Altimeter’s relationships with portfolio company CEOs — including Snowflake’s leadership team of Mike Speiser, Bob Muglia, Frank Slootman, and Mike Scarpelli — as “deep relationships that become really important friends” as they work through challenges together 3. Gerstner has also noted that Modern Treasury’s founders value being able to tell customers they are backed by Altimeter 3. However, these are Gerstner’s own characterizations rather than independent founder statements.

Sources

  1. Workweek, “Altimeter Capital: From $3M to $1B in 5 years,” July 28, 2022. https://workweek.com/2022/07/28/altimeter-capital/↩↩↩↩↩↩↩↩↩

  2. Altimeter Capital Wikipedia article, accessed March 2026. https://en.wikipedia.org/wiki/Altimeter_Capital↩↩

  3. Acquired podcast, “Altimeter (with Brad Gerstner): The Complete History and Strategy,” accessed March 2026. https://www.acquired.fm/episodes/altimeter-with-brad-gerstner↩↩↩↩↩↩

  4. Altimeter Capital website, “Home,” accessed March 2026. https://www.altimeter.com/home↩↩↩

  5. Insider Monkey, “Brad Gerstner - Altimeter Capital Management - 2026 13F Holdings, Performance, and AUM,” accessed March 2026. https://www.insidermonkey.com/hedge-fund/altimeter+capital+management/509/↩

  6. Gainify, “Brad Gerstner Portfolio Q4 2025: Altimeter Capital Holdings, Recent Trades, and Strategy Update,” accessed March 2026. https://www.gainify.io/blog/brad-gerstner-portfolio↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩

  7. Sourcery VC, “How Altimeter Is Investing $100M+ Checks | Anduril, SpaceX, K2 Space,” accessed March 2026. https://www.sourcery.vc/p/how-altimeter-is-investing-100m-checks↩↩↩↩↩↩↩↩↩

  8. WhaleWisdom Alpha, “Brad Gerstner’s Altimeter Capital has an $8B profit on Snowflake. A new $450M tech SPAC. And annual 13F returns of 30% since 2011,” accessed March 2026. https://whalewisdomalpha.com/brad-gerstners-altimeter-capital-13f-returns/↩↩

  9. Nasdaq, “Altimeter Capital’s tech SPAC Altimeter Growth Corp. prices $450 million IPO at $10,” October 2020. https://www.nasdaq.com/articles/altimeter-capitals-tech-spac-altimeter-growth-corp.-prices-$450-million-ipo-at-$10-2020-↩↩

  10. CNN Business, “Grab is going public in $40 billion SPAC deal, the biggest on record,” April 13, 2021. https://www.cnn.com/2021/04/13/investing/grab-altimeter-us-spac-ipo-intl-hnk↩↩↩

  11. Nasdaq, “Tech SPAC Altimeter Growth Corp. 2 prices further upsized $400 million IPO at $10,” January 2021. https://www.nasdaq.com/articles/tech-spac-altimeter-growth-corp.-2-prices-further-upsized-$400-million-ipo-at-$10-2021-↩

  12. Renaissance Capital, “Altimeter Growth Corp. 2: AGCB IPO, SPAC,” accessed March 2026. https://www.renaissancecapital.com/Profile/AGCB/Altimeter-Growth-Corp.-2/IPO↩

  13. Tracxn, “Altimeter Capital - 2026 Investor Profile, Portfolio, Team & Investment Trends,” accessed March 2026. https://tracxn.com/d/venture-capital/altimetercapital/__Bt7EBXow2fEqz83MGuujvRq7H1PZ3QOgR3iKS86rs6g↩↩↩↩↩↩↩↩

  14. Venture Unlocked (Samir Kaji), “Brad Gerstner of Altimeter Capital,” accessed March 2026. https://ventureunlocked.substack.com/p/brad-gerstner-on-ai-tech-supercycles↩

  15. Deciphr, “20VC Altimeter’s Brad Gerstner on Why Supercycles and the Powerlaw is the Most Important Thing In Investing,” 2022. https://www.deciphr.ai/podcast/20vc-altimeters-brad-gerstner-on-why-supercycles-and-the-powerlaw-is-the-most-important-thing-in-investing-why-portfolio-diversification-is-the-opposite-of-risk-mitigation-and-the-1-question-brad-asks-all-new-recruits↩↩↩↩↩↩↩↩↩

  16. Ritholtz, “Transcript: Brad Gerstner,” Masters in Business, November 2023. https://ritholtz.com/2023/11/transcript-brad-gerstner/↩↩↩↩↩↩

  17. Bloomberg, “VCs Break Taboo by Backing Both Anthropic, OpenAI in AI Battle,” February 11, 2026. https://www.bloomberg.com/news/articles/2026-02-11/vcs-rush-to-back-rivals-openai-and-anthropic-as-ai-frenzy-mounts↩↩↩

  18. Aurigin, “AppDynamics raises $158 million led by General Atlantic,” November 2015. https://www.aurigininc.com/newsfeed/appdynamics-raises-158-million-led-by-general-atlantic/00000000Qq↩

  19. Cockroach Labs / Street Insider, “Cockroach Labs caps two years of exceptional growth by raising $86.6M of new investment,” May 2020. https://www.streetinsider.com/PRNewswire/Cockroach+Labs+caps+two+years+of+exceptional+growth+by+raising+$86.6M+of+new+investment/16833322.html↩↩↩

  20. BusinessWire, “Roblox Raises $520M led by Altimeter Capital and Dragoneer Investment Group,” January 6, 2021. https://www.businesswire.com/news/home/20210106005891/en/Roblox-Raises-$520M-led-by-Altimeter-Capital-and-Dragoneer-Investment-Group↩

  21. Crunchbase, “Altimeter Capital - Investments, Portfolio & Company Exits,” accessed March 2026. https://www.crunchbase.com/organization/altimeter-capital/recent_investments↩

  22. Bloomberg, “Modern Treasury’s Valuation Tops $2 Billion After Altimeter Financing,” October 2021. https://www.bloomberg.com/news/articles/2021-10-06/modern-treasury-s-valuation-tops-2-billion-after-new-financing↩

  23. Crunchbase, “Altimeter Capital - Crunchbase Company Profile & Funding,” accessed March 2026. https://www.crunchbase.com/organization/altimeter-capital↩

  24. Tracxn, “Pine Labs - 2026 Funding Rounds & List of Investors,” accessed March 2026. https://tracxn.com/d/companies/pine-labs/__B_uT5mdkziCxRVGPrKBFMXE5NIJjBKHPWKDFLsjo4XQ/funding-and-investors↩

  25. CoreWeave investor relations, “CoreWeave Secures $1.1 Billion in Series C Funding,” May 2024. https://investors.coreweave.com/news/news-details/2024/CoreWeave-Secures-1-1-Billion-in-Series-C-Funding-to-Drive-the-Next-Generation-of-Cloud-Computing-for-the-Future-of-AI/default.aspx↩

  26. TechCrunch, “CoreWeave’s $1.1B raise shows the market for alternative clouds is booming,” May 5, 2024. https://techcrunch.com/2024/05/05/coreweaves-1-1b-raise-shows-the-market-for-alternative-clouds-is-booming/↩↩

  27. Hammerspace press release, “Strategic Investors Back Hammerspace as New Standard for AI Data Performance,” April 2025. https://hammerspace.com/strategic-investors-back-hammerspace/↩↩

  28. BusinessWire, “Profluent Raises $106M to Scale Frontier AI Models for Programmable Biology,” November 2025. https://www.businesswire.com/news/home/20251119356889/en/Profluent-Raises-$106M-to-Scale-Frontier-AI-Models-for-Programmable-Biology↩↩

  29. BusinessWire, “Boom Supersonic to Power AI Data Centers With Superpower Natural Gas Turbines; Adds $300 Million in New Funding,” December 2025. https://www.businesswire.com/news/home/20251209195489/en/Boom-Supersonic-to-Power-AI-Data-Centers-With-Superpower-Natural-Gas-Turbines-Adds-$300-Million-in-New-Funding↩↩

  30. Parloa, “Parloa Valued at $3 Billion with $350M Series D to Lead Agentic AI for Customer Experience,” January 2026. https://www.parloa.com/parloa-in-the-press/parloa-valued-at-3-billion-with-350m-series-d/↩↩↩↩

  31. PR Newswire, “Cockroach Labs Raises $55 Million in Series C Financing,” August 6, 2019. Confirms lead investors and amount. https://www.prnewswire.com/news-releases/cockroach-labs-raises-55-million-in-series-c-financing-to-enable-cloud-native-global-applications-and-services-for-modern-enterprises-300897143.html↩

  32. TechCrunch, “Boom Supersonic raises $300M to build natural gas turbines for Crusoe data centers,” December 9, 2025. https://techcrunch.com/2025/12/09/boom-supersonic-raises-300m-to-build-natural-gas-turbines-for-crusoe-data-centers/ — Confirms Series B led by Darsana Capital Partners with Altimeter Capital, ARK Invest, Bessemer Venture Partners, Robinhood Ventures, and Y Combinator participating. ↩

  33. PR Newswire, “CoreWeave Secures $1.1 Billion in Series C Funding to Drive the Next Generation of Cloud Computing for the Future of AI,” May 1, 2024. https://www.prnewswire.com/news-releases/coreweave-secures-1-1-billion-in-series-c-funding-to-drive-the-next-generation-of-cloud-computing-for-the-future-of-ai-302133328.html — Confirms Coatue led; Altimeter Capital participated alongside Magnetar, Fidelity, and Lykos Global Management. Post-money valuation $19B per CNBC, May 1, 2024 (https://www.cnbc.com/2024/05/01/nvidia-backed-gpu-cloud-provider-coreweave-is-worth-19-billion.html). ↩

  34. TechCrunch, “Hammerspace, an unstructured data wrangler used by Meta, raises $100M at $500M+ valuation,” April 16, 2025, accessed April 2026. https://techcrunch.com/2025/04/16/hammerspace-an-unstructured-data-wrangler-100m/ — Confirms Series B announcement date of April 16, 2025; $100M raised at $500M+ valuation; Altimeter Capital led with ARK Invest participating. ↩

  35. SiliconANGLE, “Hammerspace nabs $100M for its Linux-powered data management platform,” April 16, 2025, accessed April 2026. https://siliconangle.com/2025/04/16/hammerspace-nabs-100m-linux-powered-data-management-platform/ — Confirms April 16, 2025 Series B announcement, $100M led by Altimeter with ARK Invest participating. ↩

  36. SiliconANGLE, “Profluent Bio raises $106M from Jeff Bezos and others to accelerate protein design with AI,” November 20, 2025, accessed April 2026. https://siliconangle.com/2025/11/20/profluent-bio-raises-106m-jeff-bezos-others-accelerate-protein-design-ai/ — Confirms Series B co-led by Altimeter Capital and Bezos Expeditions; Spark Capital, Insight Partners, and Air Street Capital participated. ↩

  37. CRISPR Medicine News press release service, “Profluent Raises $106M to Scale Frontier AI Models for Programmable Biology,” November 19, 2025, accessed April 2026. https://crisprmedicinenews.com/press-release-service/card/profluent-raises-106m-to-scale-frontier-ai-models-for-programmable-biology/ — Confirms November 19, 2025 announcement date; Altimeter Capital and Bezos Expeditions co-led; total funding to date $150M. ↩

  38. TechCrunch, “Anthropic raises $65 billion, nears $1T valuation ahead of IPO,” May 28, 2026. Accessed May 2026. https://techcrunch.com/2026/05/28/anthropic-raises-65-billion-nears-1t-valuation-ahead-of-ipo/ — Confirms Altimeter Capital co-led Anthropic’s Series H on May 28, 2026 at $965B post-money with Dragoneer, Greenoaks, and Sequoia Capital; Capital Group, Coatue, D1 Capital Partners, Baillie Gifford, Blackstone, Brookfield, D.E. Shaw Ventures, DST Global, Fidelity, Samsung, SK Hynix, and Micron participated; round incorporates $15B in previously committed hyperscaler investments including Amazon’s $5B pledge. ↩

  39. Castelion press release, “Castelion Closes $350 Million Series B to Mass Produce U.S. Hypersonic Weapons,” December 5, 2025, accessed June 2026. https://www.castelion.com/news/series-b/ — Primary source. Confirms $350M Series B co-led by Altimeter Capital and Lightspeed Venture Partners with Lavrock Ventures, Andreessen Horowitz, General Catalyst, First In, Space VC, Cantos, BlueYard, Avenir, Champion Hill, and Interlagos participating. ↩

  40. PR Newswire, “Castelion Closes $350 Million Series B to Mass Produce U.S. Hypersonic Weapons,” December 5, 2025, accessed June 2026. https://www.prnewswire.com/news-releases/castelion-closes-350-million-series-b-to-mass-produce-us-hypersonic-weapons-302633732.html — Confirms December 5, 2025 announcement, $350M Series B, Altimeter Capital and Lightspeed co-leading. ↩

  41. SpaceNews, “Castelion raises $350 million to scale hypersonic missile production,” December 2025, accessed June 2026. https://spacenews.com/castelion-raises-350-million-to-scale-hypersonic-missile-production/ — Independent press confirmation of Castelion $350M Series B led by Altimeter and Lightspeed. ↩

  42. LiveKit blog, “LiveKit’s Series C: Towards the voice-driven era of computing,” January 22, 2026, accessed June 2026. https://livekit.com/blog/livekit-series-c — Primary source. Confirms $100M Series C at $1B valuation led by Index Ventures with Salesforce Ventures, Hanabi Capital, Altimeter, and Redpoint Ventures participating. ↩

  43. SiliconANGLE, “LiveKit raises $100M at $1B valuation to scale real-time AI and media platform,” January 22, 2026, accessed June 2026. https://siliconangle.com/2026/01/22/livekit-raises-100m-1b-valuation-scale-real-time-ai-media-platform/ — Confirms January 22, 2026 announcement, $100M at $1B valuation, Index Ventures led; Salesforce Ventures, Hanabi Capital, Altimeter Capital, and Redpoint Ventures participated. ↩

  44. FinSMEs, “LiveKit Raises $100M in Series C Funding at a $1 Billion Valuation,” January 22, 2026, accessed June 2026. https://www.finsmes.com/2026/01/livekit-raises-100m-in-series-c-funding-at-a-1-billion-valuation.html — Independent press confirmation of LiveKit $100M Series C at $1B valuation; Index Ventures led with Altimeter participating as returning investor. ↩

  45. Fortune, “OpenAI has raised $6.6 billion in a mega-funding deal that values the ChatGPT maker at $157 billion,” October 2, 2024, accessed June 2026. https://fortune.com/2024/10/02/openai-officially-raises-6-6-billion-funding-deal-157-billion-valuation-sam-altman-thrive-capital/ — Confirms October 2, 2024 announcement; $6.6B round led by Thrive Capital at $157B post-money valuation; participants include Altimeter Capital, Microsoft, Nvidia, SoftBank, Khosla Ventures, Fidelity, Tiger Global, and MGX. ↩

  46. SiliconANGLE, “OpenAI closes record $6.6B funding round at $157B valuation, plus $4B line of credit,” October 2, 2024, accessed June 2026. https://siliconangle.com/2024/10/02/openai-closes-record-6-6b-funding-round-157b-valuation/ — Independent press confirmation of October 2, 2024 announcement; $6.6B at $157B post-money; Altimeter Capital named as participant alongside Microsoft, Nvidia, SoftBank, Khosla Ventures, Fidelity, Tiger Global, and MGX. ↩

  47. Cooley LLP legal advisor announcement, “Founders Fund Co-Leads Anduril’s $1.5 Billion Series F,” August 7, 2024, accessed July 2026. https://www.cooley.com/news/coverage/2024/2024-08-07-founders-fund-co-leads-andurils-1-5-billion-series-f — Primary legal advisor confirmation. Confirms August 7, 2024 announcement; $1.5B Series F at $14B valuation; Founders Fund + Sands Capital co-led; Fidelity Management & Research Co., Counterpoint Global, and Baillie Gifford as new investors; Altimeter and Franklin Venture Partners listed as “existing investors with major commitments.” ↩

  48. Crunchbase News, “Anduril Industries Valued At $14B After $1.5B Series F,” August 2024, accessed July 2026. https://news.crunchbase.com/ai/defense-tech-anduril-industries-series-f/ — Independent tier-1 press confirmation of $1.5B Series F at $14B valuation; Sands Capital and Founders Fund co-led with Fidelity Management & Research Co., Counterpoint Global, and Baillie Gifford as new investors; Altimeter Capital and Franklin Venture Partners listed as existing investors. ↩

  49. PR Newswire (K2 Space press release), “K2 Space announces $110M Series B and first successful in-space demonstration,” February 13, 2025, accessed July 2026. https://www.prnewswire.com/news-releases/k2-space-announces-110m-series-b-and-first-successful-in-space-demonstration-302375955.html — Primary source. Confirms $110M Series B co-led by Lightspeed Venture Partners and Altimeter Capital, with participation from Alpine Space Ventures and First Round Capital; announcement of 180,000 sq ft factory in Torrance, CA; K2 Space total equity raised $180M. ↩

  50. Via Satellite, “K2 Space Raises $110M in Series B Funding,” February 14, 2025, accessed July 2026. https://www.satellitetoday.com/finance/2025/02/14/k2-space-raises-110m-in-series-b-funding/ — Independent press confirmation of $110M Series B co-led by Altimeter Capital and Lightspeed Venture Partners on February 13, 2025. ↩

  51. PR Newswire (K2 Space press release), “K2 Space Raises $250M at $3B Valuation to Roll Out a New Class of High-Capability Satellites,” December 11, 2025, accessed July 2026. https://www.prnewswire.com/news-releases/k2-space-raises-250m-at-3b-valuation-to-roll-out-a-new-class-of-high-capability-satellites-302638936.html — Primary source. Confirms $250M Series C at $3B post-money valuation on December 11, 2025; Redpoint led; T. Rowe Price Associates (via advised accounts), Hedosophia, Altimeter Capital, Lightspeed, and Alpine Space Ventures participated; K2 Space total raised >$450M; co-founders Karan Kunjur (CEO) and Neel Kunjur (CTO). ↩

  52. SpaceNews, “K2 Space raises $250 million to scale high-power satellite line,” December 11, 2025, accessed July 2026. https://spacenews.com/k2-space-raises-250-million-to-scale-high-power-satellite-line/ — Independent tier-1 space industry press confirmation of December 11, 2025 announcement; $250M Series C at $3B valuation; Redpoint led with Altimeter Capital, Lightspeed, T. Rowe Price, Hedosophia, and Alpine Space Ventures participating. ↩

  53. TechCrunch, “Parloa, a conversational AI platform for customer service, raises $66M,” April 24, 2024, accessed July 2026. https://techcrunch.com/2024/04/24/parloa-a-conversational-ai-platform-for-customer-service-raises-66m/ — Confirms April 24, 2024 announcement; $66M Series B led by Altimeter Capital; EQT Ventures, Newion, Senovo, Mosaic Ventures, and La Familia Growth participated; total capital raised $98M; co-founders Malte Kosub (CEO) and Stefan Ostwald (CTO). ↩

  54. EU-Startups, “Berlin-based Parloa bags €61.7 million Series B to scale and expand AI-powered customer service platform,” April 24, 2024, accessed July 2026. https://www.eu-startups.com/2024/04/berlin-based-parloa-bags-e61-7-million-series-b-to-scale-and-expand-ai-powered-customer-service-platform/ — Independent EU tech press confirmation of April 24, 2024 Series B; €61.7M (~$66M) led by Altimeter Capital; new record for European contact-center AI ecosystem. ↩

  55. Parloa press release, “Parloa raises $120M Series C to power AI in CX,” May 6, 2025, accessed July 2026. https://www.parloa.com/parloa-in-the-press/parloa-raises-120m-series-c-to-reinvent-customer-service-with-agentic-ai/ — Primary source. Confirms $120M Series C on May 6, 2025 at $1B valuation (Unicorn status); co-led by Durable Capital Partners, Altimeter Capital, and General Catalyst; EQT Ventures, RPT Capital, Senovo, and Mosaic Ventures participated; revenue quadrupled since Series B 12 months prior. ↩

  56. EQT Ventures, “Investor Perspective: Parloa Reaches Unicorn Status with $120M Series C,” May 2025, accessed July 2026. https://stories.eqtventures.com/articles/investor-perspective-parloa-reaches-unicorn-status-with-120m-series-c — Existing-investor perspective confirming May 6, 2025 Series C; $120M at $1B valuation; co-led by Durable Capital Partners, Altimeter Capital, and General Catalyst. ↩

  57. BusinessWire, “Base Power Raises $200M Series B to Reinforce the Texas Power Grid,” April 9, 2025 (dateline April 8, 2025). Names Altimeter among participating investors in $200M Series B co-led by Addition, Andreessen Horowitz, Lightspeed Venture Partners, and Valor Equity Partners; Thrive Capital, Altimeter, Terrain, and Trust also participated. Accessed July 8, 2026. https://www.businesswire.com/news/home/20250409624698/en/Base-Power-Raises-200M-Series-B-to-Reinforce-the-Texas-Power-Grid-Accelerate-National-Expansion-and-Build-American-Manufacturing-Capabilities↩

  58. Wilson Sonsini deal advisory, “Wilson Sonsini Advises Base Power on $200 Million Series B,” April 2025. Independent counsel confirmation of April 8, 2025 Series B; Altimeter named as participating investor. Accessed July 8, 2026. https://www.wsgr.com/en/insights/wilson-sonsini-advises-base-power-on-dollar200-million-series-b.html↩

  59. BusinessWire, “Base Power Raises $1 Billion Series C to Build the Future of American Power,” October 8, 2025. Names Altimeter among returning investors alongside Trust Ventures, Valor Equity, Thrive, Lightspeed, a16z, StepStone, Elad Gil, 137 Ventures, Terrain, Waybury; Addition led with CapitalG, Ribbit, Spark, BOND, Lowercarbon new. Accessed July 8, 2026. https://www.businesswire.com/news/home/20251008106005/en/Base-Power-Raises-1-Billion-Series-C-to-Build-the-Future-of-American-Power↩

  60. TechCrunch, “Base Power raises $1B to deploy home batteries everywhere,” October 8, 2025. Independent tech press confirmation of $1B Series C led by Addition; Altimeter confirmed as re-investing existing investor. Accessed July 8, 2026. https://techcrunch.com/2025/10/08/base-power-raises-1b-to-deploy-home-batteries-everywhere/↩

  61. Cerebras Systems press release, “Cerebras Systems Raises $1 Billion Series H,” February 3, 2026, accessed July 9, 2026. https://www.cerebras.ai/press-release/cerebras-systems-raises-usd1-billion-series-h — Primary source. Confirms February 3, 2026 announcement of $1B Series H at ~$23B post-money valuation; Tiger Global led; Benchmark, Fidelity Management & Research Company, Atreides Management, Alpha Wave Global, Altimeter, AMD, Coatue, and 1789 Capital participated. Follows previously announced $10B commercial agreement with OpenAI (750 MW compute capacity by 2028). ↩

  62. Data Center Dynamics, “Cerebras Systems raises $1bn at $23bn valuation,” February 5, 2026, accessed July 9, 2026. https://www.datacenterdynamics.com/en/news/cerebras-systems-raises-1bn-at-23bn-valuation/ — Independent industry press confirmation of $1B Series H led by Tiger Global at $23B valuation; Altimeter explicitly named among participants (Benchmark, Fidelity, Atreides, Alpha Wave, Altimeter, AMD, Coatue, 1789 Capital). ↩

  63. FNEX, “Cerebras Raises $1 Billion Series H at $23B Valuation,” February 10, 2026, accessed July 9, 2026. https://fnex.com/cerebras-raises-1-billion-series-h-at-23b-valuation/ — Independent press confirmation of $1B Series H at $23B valuation led by Tiger Global with Altimeter among participants. ↩

  64. Nexthop AI press release, “Nexthop AI accelerates into Hypergrowth with Oversubscribed $500M Series B Funding, catapulting the company’s valuation to $4.2 Billion,” March 10, 2026, accessed July 9, 2026. https://nexthop.ai/news-and-event/nexthop-ai-accelerates-into-hypergrowth-with-oversubscribed-500m-series-b-funding-catapulting-the-companys-valuation-to-4-2-billion/ — Primary source. Confirms March 10, 2026 announcement of $500M Series B at $4.2B post-investment valuation; Lightspeed Venture Partners led; Andreessen Horowitz joined as major investor; Altimeter participated. Includes Guru Chahal (Lightspeed Partner) quote: “The rapid growth of AI is forcing a fundamental rethink of data center network architecture.” ↩

  65. Pulse 2, “Nexthop AI: $500 Million Series B Raises Valuation To $4.2 Billion To Advance AI Data Center Networking,” March 10, 2026, accessed July 9, 2026. https://pulse2.com/nexthop-ai-500-million-series-b-raises-valuation-to-4-2-billion-to-advance-ai-data-center-networking/ — Independent press confirmation of March 10, 2026 announcement; $500M Series B at $4.2B valuation led by Lightspeed Venture Partners; Andreessen Horowitz (major participant) and Altimeter confirmed participants; Santa Clara-based AI/cloud data center networking infrastructure. ↩

  66. BusinessWire, “Unlearn Raises $50 Million Series C to Optimize Clinical Research With AI-Powered Digital Twin Technology,” February 6, 2024, accessed July 9, 2026. https://www.businesswire.com/news/home/20240206806844/en/Unlearn-Raises-$50-Million-Series-C-to-Optimize-Clinical-Research-With-AI-Powered-Digital-Twin-Technology — Primary source. Confirms February 6, 2024 announcement of $50M Series C led by Altimeter Capital; returning investors Radical Ventures, Wittington Ventures, Mubadala Capital, Epic Ventures, and Necessary Venture Capital participated; brings total raised to over $130M. ↩

  67. Latham & Watkins LLP legal advisor announcement, “Latham & Watkins Advises Unlearn in US$50 Million Series C Financing,” February 8, 2024, accessed July 9, 2026. https://www.lw.com/en/news/2024/02/latham-watkins-advises-unlearn-in-us50-million-series-c-financing — Primary legal advisor confirmation of $50M Series C led by Altimeter Capital with Radical Ventures, Wittington Ventures, Mubadala Capital, Epic Ventures, and Necessary Venture Capital as returning investors. ↩

  68. HITConsultant, “Unlearn Raises $50M to Accelerate AI-Powered Clinical Trials with Digital Twins,” February 8, 2024, accessed July 9, 2026. https://hitconsultant.net/2024/02/08/unlearn-raises-50m-to-accelerate-ai-powered-clinical-trials-with-digital-twins/ — Independent healthcare-IT press confirmation of $50M Series C led by Altimeter Capital; brings total capital raised to over $130M; TwinRCTs technology enabling smaller control groups. ↩

  69. Sigma Computing company announcement, “Sigma Raises $200 Million in Series D Funding,” May 16, 2024, accessed July 9, 2026. https://www.sigmacomputing.com/resources/announcements/sigma-raises-200-million-in-series-d-funding — Primary source. Confirms May 16, 2024 announcement of $200M Series D co-led by Spark Capital and Avenir Growth Capital with NewView Capital as new investor; all previous investors participated including Snowflake Ventures, Sutter Hill Ventures, D1 Capital Partners, XN, and Altimeter Capital; valuation 60% higher than Series C three years prior (~$1.5B total). ↩

  70. BusinessWire, “Sigma Raises $200 Million in Series D Funding,” May 16, 2024, accessed July 9, 2026. https://www.businesswire.com/news/home/20240516963033/en/Sigma-Raises-$200-Million-in-Series-D-Funding — Primary press release confirming May 16, 2024 Series D $200M co-led by Spark Capital and Avenir Growth Capital; Altimeter Capital confirmed as returning investor; total funding to $581.3M at ~$1.5B valuation. ↩

  71. HPCWire/BigDATAwire, “Sigma Secures $200M Round to Advance Its BI and Analytics Solutions,” May 23, 2024, accessed July 9, 2026. https://www.hpcwire.com/bigdatawire/2024/05/23/sigma-secures-200m-round-to-advance-its-bi-and-analytics-solutions/ — Independent tier-1 data/BI industry press confirmation of $200M Series D announcement on May 16, 2024, co-led by Spark Capital and Avenir Growth Capital, with Altimeter Capital among returning investors. ↩

  72. TAMradar Funding Rounds Signals, “Nexthop AI Raises $500M Series B for AI Networking,” March 10, 2026, accessed July 9, 2026. https://www.tamradar.com/funding-rounds/nexthop-ai-series-b-500m — Independent aggregator confirmation of March 10, 2026 announcement; $500M Series B at $4.2B valuation led by Lightspeed; Andreessen Horowitz, Altimeter Capital, and Kleiner Perkins participated. ↩

  73. TechCrunch (Frederic Lardinois), “Clumio raises $75M to automate cloud data backup and recovery,” February 21, 2024 (dateline 6:00 AM PST, February 21, 2024), accessed July 2026. https://techcrunch.com/2024/02/21/clumio-data-backups-series-d-raise-75-million/ — Primary tier-1 tech press confirmation of $75M Series D on February 21, 2024, led by Sutter Hill Ventures with Altimeter Capital and Index Ventures as returning investors and NewView Capital as new investor; brings total raised to $261M. ↩

  74. Data Center Dynamics, “Data backup company Clumio raises $75m in funding,” February 22, 2024, accessed July 2026. https://www.datacenterdynamics.com/en/news/data-backup-company-clumio-raises-75m-in-funding/ — Independent data-center industry press confirmation of $75M Series D led by Sutter Hill Ventures with Index Ventures, Altimeter Capital (existing investors) and NewView Capital (new) participating. ↩

  75. The SaaS News, “Clumio Secures $75 Million in Series D,” February 2024, accessed July 2026. https://www.thesaasnews.com/news/clumio-secures-75-million-in-series-d — Independent SaaS press confirmation of $75M Series D led by Sutter Hill Ventures with Index Ventures, Altimeter Capital, and NewView Capital participating. ↩

  76. PR Newswire, “Commvault Accelerates Cyber Resilience Capabilities for AWS with Acquisition of Clumio,” September 24, 2024, accessed July 2026. https://www.prnewswire.com/news-releases/commvault-accelerates-cyber-resilience-capabilities-for-aws-with-acquisition-of-clumio-302257641.html — Primary source (acquirer press release) confirming Commvault’s acquisition of Clumio announced September 24, 2024 (approximately $47M per contemporaneous industry press). ↩

  77. Not Boring by Packy McCormick, “Base Power Company,” May 7, 2024, accessed July 16, 2026. https://www.notboring.co/p/base-power-company — Contemporaneous long-form profile published the day Base Power announced its Series A; confirms Base Power “raised over $60 million from investors including Thrive Capital, Altimeter Capital, and Valor Equity Partners.” Also confirms Antonio Gracias (Valor) on board. ↩

  78. EnergyChoiceMatters.com, “Base Power, Start-up Retail Provider Led By Zach Dell, Officially Launches; Retail Pricing, VPP Strategy Revealed,” May 7, 2024, accessed July 16, 2026. https://www.energychoicematters.com/stories/20240507b.html — Independent industry press confirmation dated the launch/announcement date, May 7, 2024. Names capital providers: “Base has raised capital from Thrive Capital, Valor Equity Partners, Altimeter Capital, Trust Ventures, Terrain, and others.” Announces official launch as retail electricity provider in Texas. ↩

  79. Crunchbase News, “The Week’s Biggest Funding Rounds: Base Power Fuels Somewhat Quiet Week,” April 11, 2025, accessed July 16, 2026. https://news.crunchbase.com/venture/biggest-funding-rounds-base-power-caris/ — Tier-1 tech-press retrospective confirming Base Power total funding of $268M since 2023 founding (Series A $68M + Series B $200M = $268M), corroborating $68M Series A figure. Also see Sacra profile https://sacra.com/c/base-power/ which independently records Series A as $68M closed May 8, 2024. ↩