Altimeter Capital Management, a major backer of OpenAI and ANTHROPIC, is seeking
to raise just over $3bn for private-market funds, according to securities
filings and people familiar with the matter. The firm plans a $2.5bn late-stage
VC fund targeting late-stage, pre-IPO companies and is discussing a separate
$800-900m fund aimed at a more diversified cohort of younger startups. Sources
said Altimeter previously deployed into late-stage financings via a $1.6bn
growth fund closed last year and a $1.5bn expansion fund, including investments
in OpenAI and ANTHROPIC.